GFM Network News


Photo: iStock

Canadian canola crush running strong

Canada’s canola crush is running slightly ahead of the year ago level, according to updated data from Statistics Canada. With 917,992 tonnes of the oilseed crushed in November, the 2020/21 (Aug/Jul) crop-year-to-date total of 3.465 million tonnes compares with the 3.309 million tonnes processed during the same timeframe the previous year. The November canola crush […] Read more

You know supplies are tight when Brazil imports American soybeans. After selling so much of its crop to China this year, it is running short — hence this photo of U.S. soybeans being unloaded at the port of Paranagua, Brazil on Dec. 3. Tight soy supplies have pushed up demand and prices for canola, and should produce “attractive selling opportunities” for farmers here, says Thomas Mielke, executive director of Hamburg-based market analyst firm Oil World.

A deep market dive shows things are golden for canola

Top global authority on edible oil market sees strong demand continuing

Reading Time: 4 minutes Global prices for edible oil and meal have “virtually exploded” in recent weeks — good news for Canadian canola growers hoping to tap into the European market. “The average edible oil price, as well as the average oil meal price, are currently almost 40 per cent above the latest five-year average,” said Thomas Mielke, executive […] Read more


In this photo from Mike Cowbrough’s October 2019 Pest Patrol column in Country Guide, light-green waterhemp plants approach the top of a soybean canopy after two ineffective applications of glyphosate. (Supplied photo)

Group 27 herbicide resistance arrives in Canada

Mesotrione-resistant waterhemp confirmed in Quebec

A persistent and fiercely competitive weed that has developed resistance to several herbicide groups since its arrival in Canada is now the first in the country to fight off a Group 27 product. Quebec’s Reseau d’avertissement phytosanitaire (RAP) last Friday reported a patch of waterhemp with resistance to mesotrione herbicide in the Haut-Richelieu municipality, in […] Read more



(OceanFishing/iStock/Getty Images)

CBOT weekly outlook: Bullish USDA report sends soy, corn up sharply

MarketsFarm — Soybean and corn yields in the United States ended up much smaller than early expectations, according to updated supply and demand estimates released Tuesday by the U.S. Department of Agriculture. The resulting drop in production and ending stocks has sent futures rallying to new contract highs, with more gains likely. Average U.S. soybean […] Read more

(Dave Bedard photo)

Bunge lifts outlook as quarterly profit nearly doubles

Reuters — Agricultural commodities trader Bunge Ltd. raised its 2020 outlook after reporting a 91 per cent jump in adjusted third-quarter profit on Wednesday, as strong soy processing margins and robust demand for soy products boosted its core agribusiness segment. Bunge shares rose almost seven per cent to their highest level in more than a […] Read more


(Sakakawea7/iStock/Getty Images)

U.S. EPA approves XtendiMax use for five years

Court ruling had blocked dicamba sales

Chicago | Reuters — The U.S. Environmental Protection Agency will allow farmers for the next five years to spray crops with a Bayer herbicide whose sales were blocked by a U.S. appeals court in June, EPA administrator Andrew Wheeler said Tuesday. XtendiMax, a dicamba-based herbicide that is sprayed on soybeans and cotton genetically engineered to […] Read more

(Martin Farming photo courtesy Scoular Co.)

Southwestern Ontario elevator to handle Scoular grain

Martin Farming to take grain at new elevator

Scoular Co. has set up a new delivery point for southwestern Ontario growers from whom it buys grain. The Omaha-based, privately-held grain firm announced Thursday it has made a deal with Martin Farming — which operates at Paris, just northwest of Brantford — that will direct grain to Martin’s new 22,000-tonne-capacity elevator. The agreement “allows […] Read more


ICE November 2020 canola with 20-, 50- and 100-day moving averages. (Barchart)

ICE weekly outlook: Canola firm at midweek

MarketsFarm — ICE Futures canola contracts have steadied after slipping slightly following Canada’s Thanksgiving long weekend, with nearby attention on speculations rolling positions out of the front month. The nearby November contract closed Wednesday at $526.10 per tonne, gaining slightly after incurring losses the day prior. Market participants adjusting positions ahead of the November contract’s […] Read more

The USDA building in Washington, D.C. (Art Wager/iStock/Getty Images)

USDA’s WASDE bullish for soy, corn, wheat

MarketsFarm — The October world agricultural supply and demand estimates (WASDE) from the U.S. Department of Agriculture (USDA) shows lower U.S. ending stocks for soybeans, corn and wheat. Projected U.S. soybean ending stocks for 2020-21 were lowered to 290 million bushels from last month’s projection of 460 million. Last year, carryout stocks were at 523 […] Read more