The country’s economic reopening following COVID-19 restrictions is expected to increase demand for the commodity
China is largely responsible for the current upticks in global crude oil prices, according to Tom Kloza, global head of energy analysis for Oil Price Information Services in Lakewood, New Jersey. He suggested that China’s economy will begin to pick up steam in 2023 after the government loosened its super-tight COVID-19 restrictions. “You can call […] Read more
Glen Hallick
Stories by Glen Hallick
Oats take a hit in first 2023-24 crop estimate
Agriculture Canada released its first crop projections for 2023-24, forecasting a very notable drop in oats. In the department’s January supply and demand estimates, released today, it cut oat production by almost 31 percent at 3.611 million tonnes when compared to 2022-23. The department chopped the carryout for oats by nearly 48 percent at 600,000 […] Read more
Canola production estimate reduced
Statistics Canada lowers its production forecast to 19.1 million tonnes from the previous estimate of 19.5 million tonnes
While Statistics Canada cut its projection for canola production in 2022-23 by 400,000 tonnes, FarmLink Marketing Solutions senior analyst Neil Townsend said the number could go lower. On Sept. 14, StatsCan issued its latest production estimates and lowered its call on canola from the 19.5 million tonnes forecast in its Aug. 29 report to 19.1 […] Read more
Churchill port to close for two years
The sight of grain vessels being loaded at the Port of Churchill in northern Manitoba won’t happen for two years, according to Sheldon Affleck, chief executive officer of the Arctic Gateway Group. AGG consists of 29 Indigenous and a dozen non-Indigenous communities that own and operate the rail line from The Pas to Churchill and […] Read more
Hemp sector prepares for a year of gains
Production is expected to increase 15 to 20 percent, and both conventional and organic prices have risen 20 percent
WINNIPEG — The hemp industry in Canada is set for a good year in 2021, according to Canadian Hemp Trade Association president Ted Haney. “It looks like we are looking at another 15 to 20 percent increase in seeded acres nationally, which should take us over the 100,000-acre level for sure,” Haney stated. He explained […] Read more
Argentine soybean production expected to rise
Soybean production in Argentina, the world’s third-largest supplier, is expected to push well above 50 million tonnes in 2021-22, according to Benjamin Boroughs, the United States Department of Agriculture attaché in Buenos Aires. Boroughs estimated that production would rise to 51.5 million tonnes in the coming marketing year, which would be an 8.4 percent increase […] Read more
Canadian canola acre estimate lower than expected
WINNIPEG — As the market grappled with the April 27 Statistics Canada planting projections, one thing was clear to MarketsFarm Pro analyst Mike Jubinville: the canola forecast isn’t enough to rectify tight ending stocks. In the survey-based principal field crop areas report, the federal agency pegged 2021-22 canola acres at 21.53 million, up 3.6 percent […] Read more
Wheat acres at record lows, increase for soybeans, corn: USDA
WINNIPEG, March 31 (MarketsFarm) – As with last year, total wheat acres in the United States are projected to remain at all-time lows, according to the U.S Department of Agriculture (USDA). The department issued its prospective plantings estimates on Tuesday. MarketsFarm Director of Markets and Weather Bruce Burnett called the USDA’s wheat and soybean estimates […] Read more
U.S. grain stocks down this March
WINNIPEG, March 31 (MarketsFarm) – Stocks of wheat in the United States are significantly lower as of March 1, according to the U.S. Department of Agriculture (USDA). The department issued its grain stocks as of March 1 report today. The USDA pegged total wheat stocks at 1.41 billion bushels, which is 11 per cent lower […] Read more
In midst of market turmoil feed prices mostly steady
WINNIPEG (MarketsFarm) — Despite all of the commotion in the markets due to the economic impact from the COVID-19 pandemic, feed grain prices have been steady, according to Nelson Neumann of Agfinity in Edmonton. Neumann said feed prices were in a steady decline since the cold snap around the beginning of January. “This week/last week, […] Read more
