GFM Network News


CBOT weekly outlook: Soy, corn turn bearish

Traders keep an eye on South America

MarketsFarm — Soybean and corn futures backed away from multi-year highs during the week ended Wednesday, as investors took profits and weather conditions showed some improvement in South America. “The technicals are a little bearish for both corn and beans,” said Terry Reilly of Futures International in Chicago. The managed money long position in soybeans, […] Read more

This graphic from a new federal report shows the “most damaging extreme weather events” in terms of insured losses in 2018 dollars. However, it does not include last June’s hailstorm in Calgary ($1.3 billion in insured damage) and April’s flooding in Fort McMurray ($562 million in insured damage).

Climate change will bring drastic change here, say experts

Alberta has been hit hard by extreme weather in recent years, and a new report says more trouble lies ahead

Albertans can expect to see more extreme weather as climate change reshapes the landscape of the Prairies. “There’s quite a bit of strong scientific evidence that, in a warming climate, you can expect extreme weather events to occur with increased severity, in particular flooding and wildfire,” said Dave Sauchyn, director of the Prairie Adaptation Research […] Read more


Longer-range forecast points to warmer-than-normal winter

MarketsFarm — Warmer-than-normal temperatures are in the long-range forecast across all of Canada for the next three months, according to the latest outlook from Environment Canada. The latest seasonal forecast from the government agency, released Thursday, calls for a 40 to 70 per cent chance of above-normal temperatures from January through March for the western […] Read more

U.S. grains: Soy rally extends into 2021

South America soybean supply fears continue; corn ends mixed

Chicago | Reuters — U.S. soybean futures extended a rally to 6-1/2-year highs before trimming gains on Monday as dry crop weather and disruptions to exports in South America continued to unsettle investors at a time of brisk Chinese demand, analysts said. Wheat closed modestly higher, while corn ended mixed, as both commodities pared gains […] Read more


Extreme weather events were not hard to come by in 2020.

Alberta weather disasters make Top 10 in 2020

It’s an unwelcome honour, but Alberta has two of the top three spots in Environment Canada’s Top 10 weather stories of the year. The June 13 hailstorm in Calgary caused an estimated $1.3 billion in damage – $386 million in smashed or cracked windshields alone along with pummelling “hundreds of thousands of hectares” of grain […] Read more

Harvest conditions were largely excellent this year, especially when compared to 2019’s “harvest from hell.” But the flip side is that soil moisture levels in early November this year (on left) are quite a bit different from those a year earlier (at right).

Half the province on the dry side heading into winter

It’s a long time until spring, but soil moisture reserves are sharply lower compared to a year ago

Much of the province’s farmland is dry, according to the latest soil moisture update from Alberta Agriculture and Forestry. “Soil moisture reserves at freeze-up are highly variable across the province with about 50 per cent of the agricultural areas estimated to have below-average reserves at fall freeze-up,” said the Nov. 8 report. “Large areas that […] Read more


Seasonal forecast calls for more snow

MarketsFarm — Most of Canada should see above-normal snowfall over the next three months, according to updated seasonal forecasts released Monday from Environment Canada. Weather maps show a 40 to 60 per cent probability of more precipitation than normal across much of the country from December through February, with the heaviest accumulations expected in Quebec. […] Read more

ICE weekly outlook: Canola stronger at midweek

MarketsFarm — ICE Futures canola contracts were stronger on Wednesday, making up losses incurred earlier in the week. The nearby January contract closed Wednesday at $545.80 per tonne, gaining over $10 since closing at $534.90 on Monday. Record-high temperatures in parts of the Prairies were part of the reason behind canola’s rally. However, temperatures are […] Read more


U.S. grains: Corn declines on long liquidation

Soybeans lower, wheat rallies

Chicago | Reuters — U.S. corn futures declined on Monday as funds scaled back long positions ahead of the U.S. presidential election, and forecasts called for optimal weather in the Midwest, where farmers are wrapping up the harvest of corn and soybeans, analysts said. Wheat futures turned higher, rallying on bargain-buying after a five-session slide. […] Read more

U.S. grains: Wheat slides on profit-taking, weather

January soybeans up, December corn flat

Chicago | Reuters — Chicago wheat futures fell on Friday for a fifth straight session, retreating from multi-year highs set last week, on fund-driven long liquidation and improving crop prospects in the southern U.S. Plains, analysts said. Soybean futures firmed on export demand while corn settled narrowly mixed, with the front December contract losing relative […] Read more