Chicago | Reuters — The Chicago Board of Trade’s most-active corn futures plunged sharply on Thursday after the government reported that U.S. farmers will produce the biggest-ever corn crop this year. The report’s forecast topped trade estimates. The most-active CBOT corn contract at one point dipped to $4.66-1/2, the lowest price since Dec. 30, 2020, […] Read more
U.S. grains: Chicago grain, soy futures drop after USDA forecasts
China buys over one million tonnes of U.S. soy
USDA’s WASDE report throws a few curveballs
Corn carryover up significantly
MarketsFarm — There were some surprises in the November world agricultural supply and demand estimates (WASDE) from the U.S. Department of Agriculture, released Thursday. USDA defied trade expectations when it came to 2023-24 ending stocks of U.S. corn, soybeans, and all wheat, with those being higher. As well, the department came in above what the […] Read more
Opinions divided ahead of StatCan production report
Agency's previous estimates model-based
MarketsFarm — Ahead of the crop production report from Statistics Canada (StatCan) due out Friday, trade expectations are above and below what the federal agency estimated in September. In August, and in September, StatCan issued production reports based on a satellite model and without any input from farmers filling out surveys. That has caused some […] Read more
Canadian crop production bounces back, StatCan reports
Wheat at higher end of trade projections
MarketsFarm — After 2021’s historic drought on the Prairies caused crop production to fall to historic lows, the 2022 harvest has mostly bounced back to pre-drought levels, according to Statistics Canada. StatCan on Monday released its July 2022 satellite image-based principal field crop production estimates, which confirmed analysts’ expectations that this year’s crop production would […] Read more
Canadian canola area likely above earlier projection
CNS Canada — Canadian farmers likely seeded more canola in 2018 than initial expectations, but industry participants generally expect to see only minor adjustments when Statistics Canada releases its latest acreage estimates on Friday. “Our idea is that the canola seeded area number is higher than initially reported,” said Jon Driedger of FarmLink Marketing Solutions. […] Read more
Grain trade skeptical of StatsCan’s acreage outlook
CNS Canada — After predictions of record canola area and a drop in pulse acres, traders and analysts are doubtful of Statistics Canada’s predictions for smaller canola acres, much larger wheat acres and only minor reductions in pulse acres. “It’s unusual for everybody to just be this out of whack on this report,” said Ken […] Read more
Trade sees Canadian farmers trimming wheat, canola acres
Winnipeg | Reuters — Soggy spring conditions in key crop-growing areas of the Canadian Prairies left farmers unable to plant as much as they intended, but canola seedings still look record-large, according to a Reuters survey of 16 traders and analysts ahead of a government report next week. Wet weather made fields sloppy in Alberta’s […] Read more
Industry bracing for potentially large StatsCan crop estimates
CNS Canada — Canadian farmers are sitting on large crops ahead of this year’s harvest, although just how large remains to be seen as industry participants await Statistics Canada’s first survey results of the crop year, set for release on Tuesday. Pre-report trade estimates on canola production range anywhere from 16 million to 20 million […] Read more
Next StatsCan survey expected to show larger canola, wheat crops
CNS Canada — Yields are generally beating earlier expectations as the harvest progresses across Western Canada, which should lead to upward revisions to canola and wheat when Statistics Canada releases its latest production survey results Friday. However, those numbers still may be underreported, and further revisions are expected in subsequent reports. “As the harvest is […] Read more
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