The Bad: Canola futures were up today with the nearby July contract closing up by C$5.70 to settle at C$724.30 per tonne. The bad news is that the contract tested the 20 day moving average but failed to hold the gains during the session. The 20-day moving average lies above the C$731 per tonne level while today’s high managed to hit only C$729.10 per tonne. The bad news is that canola seems to be quite happy trading in the C$720 to C$725 per tonne trading range.

The Ugly: The oat exports to the U.S. remain disappointing according to recent data from the CGC. Exports in week 36 totaled 23,100 tonnes which brought exports to date to only 579,800 tonnes. This is 304, 500 tonnes behind last year’s pace and the slowest pace in the past 10 years. The drop in shipments were mostly to the U.S. according to the latest monthly data from the CGC. Shipments were down by 59,400 tonnes at the end of February with exports totaling 486,300 tonnes. Oat deliveries into the primary elevator system were 45,600 tonnes which compares favorably to last year at this time. The slow exports are ugly news for the oat markets this year with cash oats in Saskatchewan trading close to C$45 per tonne below last year at this time.

U.S. versus Canadian prices

The average price for Canadian cultivated farmland was $6,900 per acre in 2025 compared to $8,150 (all figures Cdn$) per acre in the U.S. However, comparing value is a complex calculation, FCC economist Justin Shepherd wrote in an April 15 report.

WHY IT MATTERS: Historically an advantage for Canadian crop producers, your land ownership costs per acre may not be the competitive edge they used to be.

For example, some U.S. farmland sits in zones with warmer climates and much longer cropping seasons, whereas some Canadian farmland stays snow-covered late into spring.

There are also variations in how Canadian farmland values are calculated.

To address this, Shepherd said, FCC calculated farmland value based on crop acres only and compared it to the equivalent U.S. value.

While U.S. cultivated farmland is more expensive, on average, than Canadian, the dollar per acre gap between the two countries has largely stayed similar since 2000.

Canadian land values have seen fairly consistent growth, averaging 8.7 per cent over the past decade, Shepherd said. U.S. growth rates have seen sharp spikes, such as between 2010 and 2015, followed by flat growth (2015 to 2020). The average growth rate for U.S. farmland was 5.6 per cent.

Since 2020, Canadian farmland values have risen faster than those in the U.S.

Canadian versus U.S. farmer revenue from land

Despite higher average land prices, U.S. farmers had a slight advantage over Canadians in ability to generate revenue from their land.

Using both countries’ agricultural balance sheets, Shepherd said FCC calculated the average farm is making mortgage payments on roughly 15 per cent of their farm’s real estate value.

Using the Saskatchewan Ministry of Agriculture’s formula for land investment cost, in 2025 newly-purchased Canadian farmland averaged a cost of $367 per acre. Owned land cost $143 per acre.

Using U.S. interest rates, newly-purchased U.S. farmland costs producers $381 per acre and owned land cost $127.

Last year, cultivated farmland payments accounted for 39 per cent of Canadian farmers’ grain and oilseed cash receipts.

“Meaning for every dollar earned, 39 cents went toward land payments,” Shepherd wrote.

The U.S. average was 33 cents per dollar of revenue.

“Although this calculation doesn’t include income from livestock or other sectors, it demonstrates that land costs as a percentage of grain revenues are comparable between Canadian and U.S. farmers,” Shepherd said.

OVERNIGHT GRAIN TRADE

ICE canola futures are trending $2 to $4/tonne higher so far this morning, supported by rising CBOT soyoil futures and modest energy market strength. But Chicago soybean futures are mixed…fractionally higher to almost 2 cents/bu lower…nearby contracts slightly lower with slippage in soymeal futures.

CBOT corn futures are narrowly mixed this morning…a penny or less either side of unchanged. Corn s solid price gains on Wednesday, if followed by decent gains today, might begin to suggest that market has put in a near-term bottom.

US wheat markets are posting solid gains…Minnie spring wheat futures are rallying 6 to 11 cents higher, HRW up 10 to 14 cents and SRW wheat rising 3 to 6 cents. Wheat futures are being led higher by HRW amid heightened concerns about dry weather key US growing regions. (See item below.)

Latest on the war in the Middle East

Pakistan has stepped up efforts to entice the US and Iran to prolong a ceasefire that s set to end next week, allowing more time for the warring sides to negotiate a lasting peace deal. Both countries are considering a two-week ceasefire extension, Bloomberg reported. Neither side desires a restart to fighting, with the war having devastated Iran s infrastructure and sent energy prices soaring globally.

Still, there are many contentious issues for the countries to resolve, including the reopening the Strait of Hormuz, Iran s nuclear and missile programs and sanctions relief for the Islamic Republic. For now, Washington and Tehran are saying they haven t agreed to any ceasefire that lasts beyond late Tuesday, said the Bloomberg report.

Be aware…the Financial Times on Wednesday reported that Iran secretly acquired a Chinese spy satellite that provided a capability to target US military bases across the Middle East. Bloomberg noted that China s President Xi on Tuesday broke a nearly seven-week silence on the Iran war, saying the world order is crumbling into disarray, while pledging to play a constructive role in the Middle East, while the nation s foreign ministry called the naval blockade dangerous and irresponsible.

In Other News

– US Plains drought intensifying… World Weather Inc. late Wednesday issued a special report saying drought is intensifying across the US central and southern Plains. A significant amount of the hard red winter wheat is rated poor or very poor and there is a pressing need for rain. USDA already rates crop conditions in Kansas (key HRW state) at only 32% good to excellent condition.

The High Plains region will remain mostly dry through the middle of next week, with temperatures often running above or well above normal for this time of year. Eastern sections of Oklahoma and Kansas will see periods of rain and thunderstorms that will alleviate some of the dryness, though not enough to completely fix the drought. Wheat conditions will likely deteriorate and the need for abundant rain will remain high heading into early May.

– March US soy crush strong but below expectations… The US soybean crush in March reached the second-highest level for any month on record and the loftiest ever for the third month of the year, but fell short of most analyst estimates, according to monthly National Oilseed Processors Association (NOPA) data issued on Wednesday. NOPA members, which account for nearly all soybeans processed in the United States, crushed 226.161 million bu of soybeans last month, up 8.3% from the 208.785 million bu processed in February and up 16.3% from the 194.551 million bu crushed in March 2025. The March 2026 total reflected a daily crush rate of 7.296 million bu/day, the third-strongest daily pace on record, after the average daily crush pace reached an all-time high in February, according to NOPA data.

US crush capacity has grown to record levels as strong demand for soyoil to make biofuel prompted processors to build new plants and expand existing ones in recent years. US soyoil stocks as of March 31 declined to 2.039 billion pounds, down 2.0% from 2.080 billion pounds at the end of February, but up 36.1% from the 1.498 billion pounds in stocks a year earlier. The total was below all trade estimates which averaged 2.173 billion pounds.

– UN pushing for safe fertilizer passage through Strait of Hormuz… The United Nations is ready to set up a corridor to allow fertilizer to move freely through the Strait of Hormuz and reach farmers for the planting season, but doing so hinges on a political agreement to go forward, Bloomberg reported. The UN is ready…we have the teams identified, we have the system prepared, we have the technical design of the mechanism. We just need a political and diplomatic solution that allows us to start, UN Undersecretary General Jorge Moreira da Silva, who is overseeing the initiative, said in an interview.

Talks with UN member states are underway in a bid to reach an international agreement, da Silva said. He didn t share who was involved, but said he s having extensive conversations with countries in the region, not only those that are more direct affected and involved in the conflict, but also globally.

– Baltic Dry Index rises to four-month high… A key gauge of bulk ocean shipping rates climbed to the highest since early December, driven by a surge in demand and tightening vessel supply. The Baltic Dry Index rose 5.5% to 2,484 points on Wednesday in London, extending its rally for a ninth straight session. The index tracks freight rates across Capesize, Panamax and Supermax vessels hauling raw materials including iron ore, coal and grains. Demand was concentrated in Capesize ships, the segment most exposed to iron ore.

– Manitoba Pork highlights trade uncertainty and industry shifts… Manitoba Pork s annual general meeting last week drew together producers, political leaders, and industry stakeholders for an important opportunity to discuss trade, market access, and the future of agriculture. Trade remains the number one issue for Manitoba pork producers given roughly 90% of pigs raised in Manitoba are exported, either live to the United States or as pork products shipped globally. Rising protectionism, tariffs in China, non-tariff barriers in Europe, US country-of-origin labelling, California s Proposition 12, and the upcoming CUSMA review are all adding uncertainty to the marketplace. That uncertainty complicates financial and investment decisions for producers.

A presentation at the AGM from futurist Todd Thurman highlighted longer-term changes facing agriculture. With global population growth slowing, future food demand may not expand at the same pace seen over the last 50 years. As a result, Canada must focus on quality, reliability, and reputation rather than simply moving volume at the lowest price.

– Algeria buys durum wheat... Algeria s state grains agency OAIC is believed to have purchased durum wheat in an international tender on Wednesday. The tonnage bought was unclear, although some traders estimated 400,000 tonnes were purchased. The tender sought a nominal 50,000 tonnes, but Algeria generally buys more than the nominal volume requested. Initial estimates of the purchase price came in at US $327/tonne cost and freight (c&f) for larger panamax shipments. For smaller handymax shipments, prices between $332.50 and $334/tonne c&f. Shipment was sought in three periods between May 16-31, June 1-15 and June 16-30.

Algeria does not disclose the results of its tenders and results reported are based on trader assessments. More detailed estimates of prices and volume are possible later. In its last reported durum tender on December 24, the OAIC was believed to have purchased around 500,000 tonnes at around $315/tonne c&f.

Outside Markets

The Dow Jones Industrial Average tipped 72.27 points lower on Wednesday to settle at 48,463.72, but the S&P 500 ended 55.57 points higher at 7,022.95. Canada s S&P/TSX composite stock index rose 53 points to 34,156. Early Thursday, the June Dow Jones Futures are up 126 points.

Global stock markets are on the rise this morning as optimism grew about a deal to end the Iran war, while traders digested a buffet of economic data and critical earnings reports. Wall Street futures are in positive territory after the S&P 500 and Nasdaq pushed to fresh record high closes yesterday as a wave of solid earnings allayed concerns about the economy.

Hopes are high that a US-Iran deal may be struck over the coming days, analysts from DBS in Singapore wrote in a research note. The Middle East conflict is no longer treated as a stress point by market participants, and we wonder if a US-Iran deal or ceasefire extension is already in the price. But uncertainty over peace prospects remains high.

Meanwhile, The International Monetary Fund warned the US on Wednesday that Treasuries are losing their “premium” status as global concerns mount over America s debt management. The US has been selling large volumes of debt because its budget deficit has averaged roughly 6% of gross domestic product over the past three years…a historically large shortfall outside of wartime or recession eras, a Bloomberg report noted, with the gap expected to stay around those levels throughout the coming decade.

The June US Dollar Index is up 0.144 at 97.995. The Canadian dollar steadied against its US counterpart…currently quoted at 72.92.

May crude oil futures are up $0.80 at US $92.09/barrel. Oil prices are edging higher on Thursday, reversing earlier declines, as the market questioned whether peace talks between the US and Iran would achieve a deal to end the war that has caused unprecedented disruption of Middle Eastern energy supplies.

While there are hopes for de-escalation, many investors remain skeptical, given that US-Iran talks have repeatedly broken down even after appearing to make progress, said Toshitaka Tazawa, an analyst at Fujitomi Securities.

Grain Markets

Chicago soybean futures are mixed this morning…trading fractionally higher to almost 2 cents/bu lower…nearby contracts are weakest. Bean futures were in rally mode on Wednesday, with contracts 9 to 11 cents higher at the close. Soymeal futures are down around $2/ton this morning after gaining $1 to $4/ton yesterday. Soyoil futures are showing gains of 50 to 76 points this morning after ending Wednesday steady to 116 points higher.

NOPA data from Wednesday morning showed March US soybean crush among members at 226.16 million bu, a record for the month but just shy of trade expectations. That was up 8.32% from February and 16.25% above the March 2025. US soyoil stocks were down 1.97% from the end of Feb at 2.04 billion lbs, which was still 36.11% above the same month last year.

USDA this morning reported weekly US soybean export sales of 247,900 tonnes for the week ended April 9…a marketing year low. That was down 16% from the previous week and 39% from the prior 4-week average. The trade was looking for a number between 200,000 and 700,000 tonnes.

It seems soybean traders have some renewed optimism about high-level US/China trade talks expected to happen in mid-May following a social media post by President Trump. The face-to-face meeting between Trump and President Xi was originally expected to occur either late last month or early this month, but was delayed by the military action in Iran and the Middle East. Iran is a key trading partner for China, and Beijing continues to largely rely on Brazil for its soybean needs…shunning the US when possible.

Chicago corn futures are narrowly mixed this morning, but leaning slightly weaker…down fractionally to a penny on the front month contracts. The corn market posted 4 to 8 cent gains across most contracts on Wednesday.

Some premium may have been put in the market as rain is expected over the next week in the central and eastern US Corn Belt following recent precip…though it s early to be talking major planting delays.

EIA data showed US ethanol production averaging 1.12 million barrels per day for the week ended April 10, a 4,000 bpd increase from the week prior. Stocks saw a build of 646,000 million barrels to 26.699 million barrels.

USDA this morning reported US corn export sales of 1.400 MMT for the week ended April 9…up 3% from the previous week and 14% from the prior 4-week average. The trade was looking for a number between 0.8-1.8 MMT.

Traders are keeping a close watch on any acreage shifts in the US due to fertilizer supply issues. Globally, all eyes are on Brazil’s dry corn crop with little rain in the forecast.

US wheat markets are posting solid gains this morning… Minnie spring wheat futures up 6 to 11 cents, HRW 10 to 14 cents higher and SRW wheat gaining 3 to 6 cents. The US wheat complex posted marginal gains on Wednesday with contracts higher across the three exchanges…spring wheat finishing 1 to 2 cents higher.

USDA this morning reported US wheat export sales of 100,300 tonnes for the week ended April 9…down 39% from the previous week and 48% from the prior 4-week average. The trade was looking for a number between 75,000 to 250,000 tonnes.

Near-term weather in most of the US Plains looks dry, but there could be some relief next week. However, there s still been at least some damage done to the US hard red winter crop and there s been notable chatter about a significant year-over-year increase in acreage abandonment. In contrast, US soft red winter conditions are generally good.

The large available global wheat supply limited the upside Wednesday, but global demand has been a little bit better than expected.

CANADIAN GRAIN MARKET

ICE canola futures closed a bit higher on Wednesday, though strength in the Canadian dollar limited spillover support from a higher Chicago soy complex.

Crude oil futures remained volatile, with US WTI futures trading around $90/barrel as the market watched developments in the Middle East war, including the potential for more peace talks between the US and Iran.

May canola futures finished $1.80 higher yesterday at $705.90/tonne, while November gained $1.90 to $718.90.

For today… canola futures are pushing $2 to $4/tonne higher this morning…pulling strength from rising CBOT soyoil and world energy markets. May canola futures are up $2.20 right now at $708.10/tonne, staying just above support at its 50-day moving average ($706)…but can t yet generate sustained upward price inertia from current levels.

The Middle East war is not the only thing affecting canola futures, with canola exports continuing to lurk in the background. Spec funds still maintain substantial length in canola futures…with attention now shifting from the May to the July contract as the lead.

Stay informed with our daily market videos. Each video quickly covers key futures moves, price trends, and market signals that matter to Canadian farmers. Get clear, timely insights in just a few minutes. Bookmark https://www.producer.com/markets-futures-prices/videos

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Temperatures this morning are cool with overnight lows mostly in the -5C to -10C range.  Highs today will struggle to reach the -2 to -5C range this afternoon. The temperatures are expected to remain cool on Friday with highs mostly in the -3 to-5C range. Temperatures are expected to warm on the weekend with highs moving up the low single digits. Much warmer weather is expected to push into the Prairies by early next week with highs moving up to the teens and low 20’s.

The long-term forecast continues to place a ridge on the west coast of North America which will create troughing conditions in the Prairies and Northern Plains. The positive news is that the weather pattern during the last week of April will result in normal temperatures through the region. This weather pattern will bring drier weather to the Prairies which will provide a break from the clipper systems that have dominated the weather picture over the past few weeks.

The Bad: Canola markets had a positive day that with the July contract closing up by C$2 per tonne to settle at C$718.60 per tonne. Support for canola came from a 10 cent per bushel gain in canola, while soybean oil futures were up by 1.65 per cent. European rapeseed futures closed the session up by 0.7 per cent which also provided support for canola markets. The bad news is that July canola continues to trade in a tight range and has not filled the gap created a week ago. This leaves canola in a technically weak position and will be subject to further declines in the coming weeks.

The Ugly: Recent rains in the U.S. Southern Plains have been very timely, but coverage has been limited to northcentral Texas and southwestern Oklahoma. The rains did not improve the long-term dryness. Over the past 60 days, most of the region received less than 25 per cent of normal precipitation. The driest conditions are reported in the Texas and Oklahoma panhandles along with southwestern Kansas. The dryness over the past two months is starting to impact crop conditions in Kansas with only 32 per cent of the crop in good to excellent condition. This situation is bound to get ugly with minimal amounts of precipitation expected over the next week.

At this point, conversations can become more difficult. This doesn’t mean that there will necessarily be conflict (although that can happen). However, the demanding nature of the topics can lead to common behavioural patterns that can cause progress to slow or stop altogether.

As mentioned in my article about the early stage of planning, understanding that these challenges are common and having a few tools to manage them can go a long way toward keeping your transition plan moving forward.

Let’s dive in.

Challenge: Planning drift (procrastination)

If planning drift sounds familiar, that’s because it is. (This challenge was also listed in my previous article.) This is one of the few challenges that can show up at any point in the process and often does.

Even after getting started and making some early progress, it is easy for transition planning to slip back down the priority list. As conversations become more complex or uncomfortable, families may begin to delay meetings or avoid making decisions altogether.

When too much time passes between discussions, it becomes difficult to maintain momentum. Families can forget what was decided, circumstances may change and, in some cases, it can feel like starting over.

The same tools that help in the early stages still apply here. Setting timelines, scheduling meetings in advance, and working toward a clear end-date can help keep things moving. Continued accountability discussions within the family or with the help of an advisor can be a useful tactic to remain on top of things and keep momentum going.

Challenge: Avoidance

As transition planning progresses, the conversations tend to shift toward more sensitive topics. Discussions around decision-making control, finances, fairness and future roles can be difficult for some individuals.

When that happens, avoidance can begin to show up. This might look like someone not attending meetings, staying quiet during discussions or simply putting off decisions.

While it may feel easier in the moment to avoid these conversations, doing so can create larger problems down the road. Transition planning is an emotional process and avoiding the difficult parts can slow progress or bring it to a stop.

One of the most effective ways to address avoidance is to acknowledge that these conversations are not easy. Creating an environment where everyone feels comfortable sharing their thoughts can make a significant difference. If needed, bringing in a third party to help facilitate can also help.

Challenge: Fair versus equal

At some point in the planning process most families will wrestle with the idea of what is “fair” versus what is “equal.” These two concepts are often used interchangeably, but in transition planning they can lead to very different outcomes.

Equal means treating everyone the same. Fair means taking into account factors such as involvement in the farm, contributions over time and future roles within the business.

Working through this challenge requires open discussion and a willingness to look at the bigger picture. The goal is not necessarily to make everything equal, but rather to arrive at an arrangement that makes sense for the family and the business. Most importantly, getting to a solution that everyone can understand and accept is the goal.

Challenge: Differing goals and values

Another challenge that often becomes more apparent in the middle stages of planning is the difference in goals and values between generations.

These differences are natural. The retiring generation is often focused on preserving what has been built, minimizing risk and ensuring financial security for retirement. On the other hand, the succeeding generation is typically more focused on growth, expansion and building the future of the farm. An underlying source of the disparity is the different generations’ approach to managing risk.

If these differences are not clearly understood, they can lead to disagreement and stalled decision-making.

A helpful starting point is to take the time to clearly identify and share individual goals and values. Once everyone has a better understanding of where others are coming from, it becomes much easier to find common ground and make decisions.

Transition planning is not a straight line from start to finish. The middle stages can be just as challenging as getting started.

By recognizing challenges, such as planning drift, avoidance, fair versus equal, and differing goals and values, farm families can be better prepared to identify when they are happening and navigate them.

Staying aware and maintaining communication can help ensure that the work already done in the early stages continues to be built on, leading to more successful outcomes.

Unfortunately, this is often because they don’t know how to manage their time more efficiently and they don’t realize that they may need some help to get there.

What’s more, time management coach Ram Savana, founder of Enable Ag, believes that the word “busy” is overused and that there is a false judgement around it.

“If a farmer says they’re not busy, they may be judged in the community as not being productive,” says Savana. “The mindset of the people in the farming sector (is) that busy means productive. No, not at all.”

Savana encourages farmers to break the association between being busy and being productive.

“Sit back, think, plan, allocate time to be proactive, then you become more productive,” he says.

Sharing tips based on his experiences

Growing up on a family farm in India is what eventually led Savana to time management consulting. His parents were organic farmers and worked long hours to make money to provide a good education for their three children, but that meant that Savana didn’t get to spend much time with them growing up.

After graduating with a master’s of biotechnology at Melbourne University, he worked in the medical devices sector for several years before moving to Tasmania, where he turned his attention back to agriculture. After working on a farm and learning about Australian farm production, he began coaching farmers on how to manage, plan and delegate their time more efficiently.

A sought-after speaker on time management, he established Enable Ag to help farmers find more time for themselves and their families.

“I began with processes and systems. I thought if I put enough systems in place, the farmer will have all the time in the world, but I notic(ed) that the farmers started going back to their old habits … once the consulting period was over,” says Savana.

“I realized it was not the systems that they needed, they needed to upgrade themselves, they needed to change their mindset because their relationship with time needed to be changed,” he says. “Now I focus on how they can build a beautiful relationship with time rather than a relationship where they fall back into old habits.”

That change of mindset begins by realizing no one is indispensable.

“The farmer needs to think this way: if you’re doing everything yourself, or you think that you are the only one who can do things, you’re limiting the growth of your business,” he says.

Savana has developed the following framework to help farmers manage their time more efficiently to be more productive and profitable.

Task and time audit

Savana begins the consultation process with what he calls a task and time audit. This looks at what tasks the farmer is doing, how much time they are spending on each task and, importantly, when they are doing them.

“They need to look at what time of the day they are doing tasks, because there is time and there is energy,” he says. “They need to know what the energy levels are when they are working on what kind of tasks. If they are in a strategy meeting always in the afternoon, for some farmers it is draining because they’ve already used the best part of (their energy) to drive a tractor in the morning. (S)trategically align the best use of energy with the time to do the tasks that are going to bring the best result to your farm.”

Proactive versus reactive

While there are things that happen in farming that can’t be predicted (e.g., weather), Savana believes that 60 to 80 per cent of what happens on the farm is reasonably predictable. He challenges farmers to think more proactively about that percentage.

“Humans react to various things; they don’t want to be in proactive mode. But if they train their brain to be as much as possible in proactive mode, they can plan things more effectively and will have a far more productive farm and a more composed life rather than always being in the rush of busy-ness,” he says.

Take a step aside

Savana says very few people know how to manage time effectively and farmers often have a mentality of “don’t complain, just get on with it.”

Many of the farmers he works with see their profitability increase year over year, even as they find more time to spend with their families. How are they doing it? They are taking a step aside, he says.

“They are stepping aside to assess where the time is being spent, where their energy is being spent, and are they being smart about where it’s being spent,” he says.

“Do they have the right people? Do they have the right systems? Do they have the right routines in their own life? Are they taking enough care of themselves? All these things are part of looking after yourself and upgrading yourself. The moment you step aside and see things from a different angle, then the domino effect starts, one change leads to another and another.”

Don’t be distracted by “shiny things”

Frequently, Savana comes across farmers who want to find new technology that will solve their time management issues and make them more productive immediately.

However, Savana emphasizes that while technology has its place, farmers need to focus on best practices first, which are characterized by three questions:

Why are we doing what we are doing? “You need to plan proactively before you talk to your team, so have an operations meeting before a staff meeting,” Savana says. “That’s when you talk about why you need to do what you do in the business.”

How should things be done? “Anything and everything that is repeated in the business should be in a systems list,” he says. “All the systems policies, processes, standards, flow charts, videos, everything in your business should all be listed and in one place, so when somebody needs to know how to do something, they are able to find it.”

What needs to be done? “The ‘what’ needs to be answered with a task management system, and this is where technology can come into play,” Savana says. There are many different platforms farmers can choose from. They can be as basic as a spreadsheet or as complicated as a dashboard system with custom reports.

Savana says trying to adopt technology before answering those three questions will simply be a distraction or, worse, an actual time-waster.

“People do need some tools to be able to know what’s going to happen in the next month, or six months or the whole year because every farm has a rhythm, there is a sequence of events happening (unless they are establishing a farm for the first time),” Savana says.

“You cannot put a system in place if it’s not optimized. It needs to have some rhythm. When there is a rhythm … then you want to put a system in place so that other people can follow it. If you try to optimize too early, you will be constantly trying to fix it because you’re putting the system in at the wrong time.”

Practice what you preach

Effective time management isn’t just about managing your own time but managing the time of staff and other members of the farm team.

But it’s not possible to teach what you don’t know.

“If you want to make the best use of somebody else’s time, you need to make (the best) use of your own time first,” says Savana. “They are going to look at you, so if you are delegating tasks, you show them how it needs to be done but document it so you don’t have to keep on doing it. Because if you are solving the same problem multiple times, there should have been a system in place so that you are avoiding the distraction.”

How to know you need help with time management

One of the biggest signals that farmers have hit an impasse on time management is when there is overdependence on their role and they can’t step away from their business without serious consequences.

“That means they don’t realize that someday, whether by choice or by force, they will have to let their farm be run by somebody else,” says Savana. “As much as possible, they want to be in a position to make choices. The main question is, are you able to run the farm without being there (and maintain) 80 per cent efficiency at least continuously for three months? If you are able to do that, you don’t need a time management expert.”

The reality is that only a handful of businesses can achieve this result. Many end up with the owner, or someone else in the business, becoming a bottleneck.

“You’re formatting a bad culture because you don’t have enough systems in place, and you continue to hang on to people who have the skills to perform the job rather than getting people with the right values into the business,” Savana says.

“Align them with the right systems and you can train anybody to the way that you want.”

You can find Enable Ag’s free, downloadable checklist called the Farmers’ Ultimate Freedom Checklist, here. It will walk you through the fundamentals of how to start improving your time management.

OVERNIGHT GRAIN TRADE

Ice canola futures are posting $3/tonne gains to start so far this morning after easing slightly lower yesterday. Chicago soybean futures are showing early gains of 5 to 8 cents/bu, with the products (meal/oil) also slightly higher.

CBOT corn futures are up 3 cents this morning, but wheat markets are mixed…spring wheat futures steady to 3 cents higher, but the winter wheats are mostly 2 to 4 cents lower. On Tuesday, wheat futures finished with double digits gains for a second consecutive session on drier US HRW crop conditions for the remainder of April. Corn benefited from the wheat rally.

US winter wheat growing weather and North American corn, soybean canola and spring wheat planting weather are taking center stage in the markets.

Latest on the war in the Middle East…

– Trump hints truce deal with Iran might be close
– Strait of Hormuz remains virtually closed
– China s Xi vows closer coordination with Russia as Iran war drags on
– North American stock markets hold near all-time highs on peace hopes
– Israel hails Lebanon talks despite slim odds of breakthrough

US President Donald Trump played down the prospect of renewed fighting in the war with Iran, even as questions remain over Tehran s nuclear program and access to the Strait of Hormuz. Speaking to ABC News on Tuesday and as reported by Bloomberg, Trump said extending a ceasefire that expires next week may not be necessary, hinting at near-term progress toward a deal to end the near seven-week conflict. In a Fox Business interview, he said the war is close to over.

An initial round of peace talks between the two sides ended in Pakistan on Sunday without a deal. A second meeting hasn t been agreed, though work has been ongoing this week to secure a new time and place, according to people familiar with the matter, who asked not to be identified discussing private deliberations, said Bloomberg. Talks might restart over the next two days, Trump told the New York Post, which would mean by Thursday.

In Other News

– Hormuz mission talks… Discussion led by Britain and France of steps to open the Strait of Hormuz will include possible financial sanctions on Iran if it keeps the waterway blocked, and steps to work with industry to resume shipping. Paris and London, who have sought to take leadership of the initiative after previous military and political meetings, are seeking to show their willingness to play a role in restoring freedom of navigation once the conflict ends. The offices of France’s President Emmanuel Macron and British Prime Minister Keir Starmer say they will co-chair a video conference on Friday of some 40 countries that are willing to contribute to the multilateral mission.

The meeting will reportedly center on four working groups: championing freedom of navigation and maritime security, pursuing economic measures against Iran if the strait stays closed, securing the release of seafarers and trapped ships, and working with industry to support their readiness to resume transit.

Iran has largely closed the strait to ships apart from its own since the start of US-Israeli air strikes on February 28. On Monday, Washington imposed a blockade of ships entering or exiting Iranian ports.

Trump has called on other countries to help impose the blockade. Britain, France and others say they will not do so, as this would mean joining the war, but they would be willing to help keep the strait open when fighting ends.

“The United States needs to get its act together. It’s paradoxical at the moment because the ones that are most unpredictable are the US,” said a senior European diplomat.

– IMF cuts growth outlook, warns of potential global recession… The International Monetary Fund cut its growth outlook on Tuesday due to Iran war-driven energy price spikes and supply disruptions and warned that the global economy would teeter on the brink of recession if the conflict worsened and oil stays above $100/barrel through 2027. With massive uncertainty over the Middle East conflict gripping finance officials gathering for IMF and World Bank spring meetings in Washington, the IMF presented three growth scenarios: weaker, worse and severe, depending on how the war unfolds.

The World Economic Outlook’s most optimistic “reference scenario” assumes a short-lived Iran war and forecasts 3.1% real GDP growth for 2026, down 0.2 percentage point from its previous forecast in January. Under this scenario, oil prices average $82/barrel for all of 2026, a decline from recent levels of around $100 for the Brent benchmark futures price.

Absent the Middle East conflict, the IMF said it would have upgraded its growth outlook by 0.1 percentage point to 3.4%, due to a continued technology investment boom, lower interest rates, less-severe US tariffs and fiscal support in some countries. But the war has created a far bigger risk to the global economy than President Donald Trump’s initial wave of steep tariffs did a year ago, IMF chief economist Pierre-Olivier Gourinchas said.

“What’s happening in the Gulf is potentially much, much larger, and that’s what our scenarios are kind of documenting,” he said.

Under an “adverse scenario” of a longer conflict that keeps oil prices around $100/barrel this year and $75 in 2027, the IMF predicts global GDP growth would fall to 2.5% this year. And the IMF’s worst-case “severe scenario” assumes an extended and deepening conflict and much higher oil prices that prompt major financial market dislocations and tighter financial conditions, slashing global growth to 2.0%.

“This would mean a close call for a global recession,” the IMF said, adding that growth has been below that level only four times since 1980…with the last two severe recessions in 2009, following the financial crisis, and in 2020 as the COVID-19 pandemic raged. Gourinchas said that a number of countries would be in outright recessions under this scenario, with oil prices averaging $110 per barrel in 2026 and $125 in 2027. Prices at this level for an extended time would also increase expectations “that inflation is here to stay,” prompting wider price increases and wage hike demands.

– Tensions between the US and China over the Iran war and President Trump s decision to impose a naval blockade on the Strait of Hormuz have been on the rise this week and are worth keeping an eye on ahead of a key mid-May summit meeting that s already been postponed once.

US Treasury Secretary Scott Bessent said on Tuesday that China had been an ?unreliable global partner during the Middle East war by hoarding oil supplies and limiting exports of certain goods, such as rare-earth minerals, Reuters reported. Bessent compared China s behavior to the country s hoarding of medical supplies during the pandemic. Bessent told reporters he had spoken with Chinese officials about the issue, the report said, and dodged a question about whether the dispute would derail Trump’s planned to visit ?Beijing. He reiterated that Trump and Chinese President Xi Jinping had a very good ?working relationship.

Meanwhile, China on Tuesday criticized the US blockade of Iranian ports as dangerous and irresponsible, the South China Morning Post reported. Foreign ministry spokesman Guo Jiakun told reporters at a daily briefing in Beijing on Tuesday that the US action would only inflame tensions, escalate the situation and undermine an already fragile ceasefire , and that would further jeopardize the safety of navigation in the strait, the report said.

Trump on Sunday threatened to impose a 50% tariff on China, after a news report said Beijing was preparing to deliver a shipment of air defense systems to Iran.

– Rice prices in Asia soaring… Rice prices in Asia surged the most in more than two years on concerns about the supply outlook after the cost of fuel and fertilizer jumped due to the Iran war, prompting some Thai farmers to leave their crop in the ground, Bloomberg reports. Thai white rice 5% broken, an Asian benchmark, jumped 10% to US $423/tonne in the week ended April 8, the biggest gain since August 2023…an early sign that rising input costs are starting to impact the market.

Some farmers in Thailand have suspended rice cultivation because their profits simply aren t enough to cover the ballooning costs, said Oscar Tjakra, a senior commodities analyst at Rabobank in Singapore. The challenging situation has been compounded by a long dry season, which has significantly reduced yields and tightened supplies of the current crop, he added.

– US Farm Bureau survey real impact of fertilizer availability and price … A survey by the US Farm Bureau shows fertilizer pre-booking rates varied significantly by region, with just 19% of Southern producers reporting fertilizer purchases secured ahead of the season, compared to 30% in the Northeast, 31% in the West and 67% in the Midwest, reflecting differences in planting decision timelines and exposure to recent price increases.

Fertilizer affordability challenges are most acute in the South and Northeast, but remain a concern for farmers across all regions. Around 70% of respondents report being unable to afford all the fertilizer they need. Farm diesel prices have increased 46% since the end of February, raising costs for fieldwork, fertilizer transport and irrigation during both planting and growing seasons. Nearly six in 10 farmers report worsening finances, reflecting rising fertilizer and fuel costs during spring planting and underscoring the urgent need for immediate economic assistance to keep farms gates open.

Rising input costs tied to the conflict in the Middle East are adding strain to an already challenging farm economy, said the survey. More than 5,700 farmers responded to the survey, which was conducted April 3 through April 11.

– Carney unveils temporary cut to gas, diesel taxes… After securing a majority in the House of Commons, Prime Minister Mark Carney announced a tax break on gas and diesel aimed at providing some relief for Canadians dealing with higher energy costs. The temporary tax break will begin April 20 and remain in place until Sept 7. The government said it is expected to shave 10 cents per litre from the cost of regular gasoline and reduce the price of diesel by four cents per litre.

The measure is being presented as a response to rising energy prices caused by the conflict in the Middle East that has dramatically reduced oil exports from the Strait of Hormuz.

However, the fuel tax break will not have a direct impact on Canadian farm operations, as farmers are already exempt from this tax on their own marked farm diesel. It ll help with fuelling the family car, but not on-farm equipment fuel usage. But others in the agricultural supply chain may benefit more. Seed deliveries, all the trucks on the road that are in and out of farmyards, commercial trucks will benefit from that tax exemption.

The Carney Liberals crossed the majority threshold Monday night thanks to three byelection wins that followed five floor-crossings in recent months, including one New Democrat and four Conservative MPs deciding to sit on the government side of the House of Commons.

Outside Markets

The Dow Jones Industrial Average rallied 317.74 points higher on Tuesday to settle at 48,535.99, and the S&P 500 up 81.14 points at 6,967.38. Canada s S&P/TSX composite index gained 223 points to 34,102. Early Wednesday, the June Dow Jones Futures are up 61 points.

Global markets are muted but turning higher this morning following yesterday s rally, as investors evaluated a ?range of corporate earnings reports while monitoring the evolving situation in the Middle East. Wall Street futures are narrowly mixed.

Analysts at Deutsche Bank wrote that the Middle East developments, including US President Donald Trump saying that talks with Iran could resume within the next two days, had eased investor fears about a stagflationary shock. They noted that investors continue to believe the conflict will be a temporary one. But putting much stock in Trump s daily erratic rantings can never be trusted.

The June US Dollar Index is up 0.067 at 97.975. The Canadian dollar is steady against its US counterpart…currently quoted at 72.72 US cents.

May crude oil futures are down a dime at US $91.18/barrel, but all other contracts are up less than $1/barrel. Oil prices are steady to edging higher this morning as investors assessed prospects for renewed US Iran talks and the potential for supply to be released from the Middle East, where exports remain constrained by the closure of the Strait of Hormuz.

The trajectory of oil prices will likely hinge less on battlefield developments and more on diplomatic momentum. ?Markets are increasingly reacting to headlines around negotiations rather than troop deployments, said Priyanka Sachdeva, ?senior market analyst at Phillip Nova. Each signal of renewed dialogue has been met with price declines, suggesting that traders are systematically unwinding the war premium embedded into crude earlier this month.

Grain Markets

Chicago soybean futures are trading 5 to 8 cents/bu higher this morning, with the nearby contracts leading. Bean futures were lower on Tuesday with contracts down 3 to 6 cents across most months. Soymeal futures are around $1 to $2/ton this morning after tipping 20 cents to $2.20/ton lower yesterday. Soyoil futures are 38 to 50 points higher right now after sliding 6 to 61 points lower on Tuesday.

Traders, while keeping an eye on the probabilities of a US-China trade meeting in a month, are also beginning to focus on US acreage shifts from corn to beans. US soy planting is ahead of average…and while some near-term rain delays are likely…it should be a long-term benefit.

China continues to favor soybeans from Brazil over the US due to price and the geopolitical tensions.

Brazil s soybean crop was estimated at a record large 179.15 MMT by CONAB, a 1.3 MMT hike from their previous number in March. Yield was hiked 0.36 bushel/acre to a record average of 54.96 bu/acre. Argentina’s soybean farmers, beginning harvest, will most likely face delays due to rain.

Chicago corn futures are rising 3 cents this morning. The corn market closed Tuesday s session on a mixed note, with front months up 1 to 2 cents, while other contracts ended fractionally lower.

On Tuesday, USDA reported private export sales of 316,000 tonnes to Mexico (65,000 for 2025/26, 139,000 MT for 2026/27, and 112,000 MT for 2027/28), with another 120,000 tonnes sold to unknown destinations for the current marketing year.

CONAB data pegged the Brazilian corn crop raised by 1.3 MMT to 139.57 MMT. The second crop was hiked by 0.68 MMT to 109.12 MMT, as the first crop was up 0.62 MMT to 27.35 MMT. Brazil s second crop is almost fully planted.

Though US corn planting is 5% completed and near normal levels at this time of the year, rain could delay fieldwork next week. But the rain is much needed for soil moisture. There s still some chance fertilizer availability issues due to the military action in Iran and the Middle East could change the 2026 US acreage mix…lessen corn acres in favor of soybeans.

US wheat markets are mixed this morning… Minnie spring wheat futures are steady to 3 cents higher, but HRW is down 2 to 3 cents and SRW is losing 2 to 4 cents. The US wheat complex posted strength across its three exchanges on Tuesday…spring wheat ended 11 to 13 cents higher on the day. Yesterday was a second consecutive session of good gains posted in spring wheat that lifted futures back above their respective 20-day moving averages.

The next 7 days are expected to remain dry from the western part of Kansas to the panhandle of Texas according to the NOAA 7-day forecast (HRW region). SRW area is still expected to see 1 to 3 inches. Fertilizer supply concerns and the drier forecast for the US HRW wheat belt through to the end of April are price supportive.

CANADIAN GRAIN MARKET

ICE canola futures ended modestly lower on Tuesday, pressured by declines in crude oil and strength in the Canadian dollar.

Crude prices moved lower amid the possibility of renewed US and Iran talks aimed at ending their Middle East conflict. The drop in oil weighed on the broader vegetable oil complex, including canola, given its link to biofuel demand. At the same time, a firmer Canadian dollar added additional pressure by making Canadian exports slightly less competitive on the global market.

May canola fell $1.20 yesterday to close at $704.10/tonne, and November eased 80 cents to $717.

For today… canola futures are rebounding $3/tonne so far this morning. Nearby May canola is currently up $3.20 at $707.30/tonne…trying to hold the line just above chart support at its 50-day moving average ($705).

A recent pull back in crude oil prices is limiting rally potential for world vegoil markets, and in turn our canola market. Talk of potential renewed US-Iran talks raised expectations of improved supply, dampening biodiesel demand. But talk is cheap…and words from either the White House or Iran cannot be trusted. Meanwhile, the Strait of Hormuz remains a traffic restricted area.

With ICE canola crush margins hitting record levels of $350/tonne last week, the canola market appears to be undervalued on a crush basis compared to the soybean product markets.

So far this morning… CBOT soy complex futures are slightly higher, while Malaysian palm oil is steady, coming off recent weak price action. EU rapeseed futures are steady, with a price chart pattern somewhat mirroring our canola.

Soyoil remains on the canola trader radar…recovering this morning after falling from its early April high. But the lingering potential for a large double top at 70 cents/pound remains a technical concern. It will take a close over the April 7 high of 70.49 cents to negate the formation, a move that an escalation with Iran would likely be able to inspire.

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Agriculture minister David Marit said the review will include both stakeholder and public consultations. It comes after an initial review by an appointed advisory committee.

That committee found no evidence of illegal land ownership, he said.

“However, they did point to potential opportunities to further strengthen the legislation and the regulatory framework. Based on their feedback, we will undertake an extensive review of ownership verification, penalty and enforcement tools, as well as reporting obligations and oversight of permanent residents,” he told a news conference.

The committee did not look at other parts of the act, such as foreclosure processes and home quarter protection, but the comprehensive review will.

He noted the last significant review was done 10 years ago.

Advisory committee chair Ken McDonald said members met with industry stakeholders who raised concerns about foreign farmland ownership several times.

“No names or evidence was brought forward to support this is actually happening,” he said.

McDonald said the Farm Land Security Board is doing a good job overseeing ownership, but some legislative and regulatory updates could streamline the process. He said stronger penalties are needed to reflect increased land values.

Board general manager Kim McLean said the home quarter and foreclosure provisions of the Farm Security Act have only seen small amendments since 1988, and things have changed since then. For example, corporate structures didn’t exist much then, she said.

Amendments could be introduced by spring 2027.

The Bad: July canola continues to trade in a channel that started last Wednesday with the contract trading in a raged that centers around the C$716 per tonne level. The bad news is that the July contract hasn’t tried to fill the gap created last Wednesday. The bad news is that canola closed down despite trading higher early in the session. The contract was pressured by lower soybean and soybean oil futures.

The Ugly: Oilseed markets closed lower today due to a drop in crude oil futures. The June contract traded down by US$4.37 per barrel to trade at US$88.59 per barrel. Although this is good news for users of crude oil, the oilseed markets were under pressure today. This pushed values lower across the oilseed complex. What was driving oil prices lower. It was on the news that the talks with Iran continue despite the recent escalation of hostilities. The closing of the Strait of Hormuz by the U.S. Navy seems to be “bullish” for crude oil but values have dropped anyway. This means that the crude oil market is not following any fundamentals and is all about money flows. These types of markets turn ugly in a hurry.