Chicago | Reuters — Chicago Board of Trade corn futures sank by the daily limit on Tuesday as forecasts for cooler, wetter U.S. weather eased concerns about unfavourable crop conditions. Prices pulled back after climbing 12 per cent last week on lower-than-anticipated U.S. plantings estimates from the Department of Agriculture. The estimates made the market […] Read more
U.S. grains: Corn limit down as crop weather improves
Market retreats from rallies last week
A crystal ball to predict drought
Reading Time: < 1 minute Ag Canada says its new Drought Outlook tool can predict likely drought conditions one month into the future. The tool uses Drought Monitor assessments along with precipitation and temperature forecasts from Environment Canada. It features two side-by-side maps — one showing drought conditions as of a particular date and a linked one predicting the ‘drought […] Read more
B.C. presses for ranchers to register before wildfires hit
Premises ID helps protect livestock in emergencies, province says
British Columbia’s provincial ag ministry hopes to shore up ranchers’ participation in the Premises Identification program against the risk of further wildfires this year. About two-thirds, or 5,200, of B.C.’s non-supply managed livestock producers, and all the supply-managed dairy cattle and poultry premises in the province, are registered in the program, the province said Wednesday. […] Read more
Western Canada lightning strikes up tenfold, stoking fires
Vancouver | Reuters — Lightning strikes in Western Canada over the past two days soared nearly tenfold from the same time a year ago, triggered in part by a record-breaking heat wave, meteorologists said, warning of more strikes over the weekend that could further stoke forest fires fanned by high winds. Over 710,000 lightning events […] Read more
CBOT weekly outlook: Wet weather pressures markets ahead of USDA report
MarketsFarm — After hot and dry weather sent corn and soybean prices climbing higher in early June, much-needed rains brought bids down at the Chicago Board of Trade on Wednesday. Weather accounted for “90 per cent” of the pricing influence, according to Sean Lusk, vice-president of the commercial hedging division for Walsh Trading in Chicago. […] Read more
U.S. grains: Soybeans, corn ease on inflation fears
Stronger U.S. dollar also pressures prices
Chicago | Reuters — Chicago soybean and corn futures eased on Thursday, pressured by a firming dollar and fears of food price inflation, though concerns of hot, dry weather in growing areas offered support, traders said. The most-active soybean contract on the Chicago Board of Trade fell 13-1/4 cents to $15.49-1/4 per bushel, while new-crop […] Read more
ICE weekly outlook: Bare shelves keep all eyes on weather
MarketsFarm — Hot and dry Prairie growing conditions helped ICE Futures canola contracts move higher to start the month of June, with weather forecasts likely to dictate where values move over the next few weeks. “We’re going into some very hot temperatures, and we’ll need another dose of rain in a week or two to […] Read more
Hail fears lessens for growing projects
Reading Time: < 1 minute Hail will be a little less of a threat this year for Canadian Foodgrains Bank growing projects. Alberta Financial Services Corporation is donating the first $80 an acre of hail insurance for every growing project in the province. There are 35 growing projects in Alberta this year and having hail insurance “provides a great sense […] Read more
Forecast, flea beetles complicate canola timing
Dry conditions make ideal seeding time difficult to peg
Drought conditions, and the odds of more to come, have some Prairie canola growers pondering when to roll the dice on seeding, if they want to do more than feed the flea beetles. Small-seeded crops, such as canola, have garnered particular concern from agronomists and producers worried about germination, given power dry topsoil across much […] Read more
U.S. grains: Corn, soy extend multi-year highs
Tightening global supply picture supportive; CBOT wheat also up
Chicago | Reuters — U.S. corn and soybean futures closed firm on Friday after rocketing to multi-year highs this week on tightening domestic and global supplies, traders said. As stocks from the 2020 harvest dwindle, dryness in Brazil and a U.S. cold spell raised doubts about prospects for the 2021 corn crops in the world’s […] Read more
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