MarketsFarm — With the rapeseed crop in the United Kingdom estimated at 66 per cent good to excellent, the U.S. Department of Agriculture attaché in London, forecast production for 2023-24 to be 1.38 million tonnes. That would make for a 1.4 per cent increase over the 2022-23 crop. While the attaché pegged planted and harvest […] Read more
U.K. to increase rapeseed, product output in 2023-24
Input costs seen down so far this year
Record U.S. corn, soybean crops for 2023-24, USDA says
U.S., worldwide wheat ending stocks expected down on year
MarketsFarm — The United States may be in the midst of growing record-breaking corn and soybean crops if the U.S. Department of Agriculture (USDA) is correct. USDA on Friday released its monthly world agricultural supply/demand estimates (WASDE), which included its first U.S. production estimates for 2023-24. The report also provided ending stocks projections for new […] Read more
CBOT weekly outlook: Traders, analysts anticipate WASDE report
El Nino also worth watching longer-term
MarketsFarm — While traders and analysts continue to keep an eye on weather conditions, their collective focus will momentarily shift on Friday when the U.S. Department of Agriculture (USDA) releases its monthly world agricultural supply/demand estimates (WASDE). This month’s report will be highly significant as it will announce the first U.S. crop production estimates for […] Read more
CBOT weekly outlook: U.S. rain, StatCan report biggest influences
Russia's sabre-rattling not yet swaying markets
MarketsFarm — The three to five inches of rain received Wednesday in Kansas and Oklahoma have put pressure on Kansas City and Chicago wheat prices on the Chicago Board of Trade (CBOT), according to broker Ryan Ettner of Allendale Inc. Added to that, Statistics Canada’s (StatCan) report on prospective plantings, also received Wednesday, has weighed […] Read more
More grain for European Union in 2023-24, USDA projects
Larger production seen reducing need for imports
MarketsFarm — The U.S. Department of Agriculture’s (USDA) attaché in Madrid is projecting an increase in grain production for the European Union (EU) in 2023-24. In USDA’s Global Agricultural Information Network (GAIN) report released Wednesday, the attaché pegged the EU’s 2023-24 grain production at 284.7 million tonnes, 17.9 million more than this year’s crop which […] Read more
Less wheat expected in Kazakhstan in 2023-24, despite same acres
Soil moisture loss expected in wheat-growing regions
MarketsFarm — As the 2022-23 crop year in Kazakhstan begins to wind down, the U.S. Department of Agriculture (USDA) attaché in the country’s capital of Astana estimated its wheat production at 16.4 million tonnes. Should that forecast hold, the attaché’s report noted it would be the largest wheat harvest since 2017-18. However, going into the […] Read more
India’s rapeseed output to be steady
El Nino may be a spoiler
MarketsFarm — Rapeseed production in India has been forecast to remain quite consistent, according to the U.S. Department of Agriculture (USDA) attaché in New Delhi. The attaché projected rapeseed production for 2023-24 to hold at 11.5 million tonnes, the same in 2022-23. USDA’s official numbers placed India as the world’s No. 4 producer of rapeseed, […] Read more
Argentina soybeans expected to go from horrible to great
El Nino expected to improve growing conditions
MarketsFarm — While Argentina is headed to one of its worst soybean harvests in decades, the U.S. Department of Agriculture (USDA) attaché in Buenos Aires projects a huge turnaround in 2023-24. Argentina is the world’s third-largest grower of soybeans — a fair amount less than Brazil and the U.S., but a lot more than other […] Read more
U.S. begins testing bird flu vaccines for poultry after record outbreak
Four vaccines to be tested
Chicago | Reuters — The U.S. government is testing four potential bird flu vaccines for poultry, officials said on Friday, after more than 58 million chickens, turkeys and other birds have died in the nation’s worst outbreak ever. The trials, conducted by the U.S. Department of Agriculture’s (USDA) Agricultural Research Service, are the first step […] Read more
ICE weekly outlook: New-crop November canola set to step back
StatCan not expected to sway futures much
MarketsFarm — There is presently little upside to new-crop November canola on ICE Futures, according to analyst Errol Anderson of ProMarket Communications in Calgary. Anderson pointed to losses in Malaysian palm oil and weakness in China’s soymeal market as weighing on ICE canola values, with more pressure coming out of South America. “The [soybean] production […] Read more
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