Markets
SASKATOON — Canada’s chickpea crop is off to a good start. “I’m new to the area, but what I’m being told by those who are veterans here, this is a good year, and it could lead to a pretty good outcome from a yield perspective on everything,” said Jake Hansen, general manager of Mid-West Grain. […] Read more
Markets
China hopes GM crops will increase grain self-sufficiency
China’s government approved genetically modified wheat and corn varieties for domestic cultivation last week, marking a step forward in becoming a global advocate for crop genetic modification. In only a few years China shifted from a cautious approach to GMOs to solid support, with potential implications for the country’s self-sufficiency and for global attitudes about […] Read more
Bunge-Viterra deal sheds temporary light on grain system
There’s been renewed talk recently about grain company power and concentration. This is due to Bunge’s proposed takeover of Viterra, which has elicited concern from farm groups, brought alarming analysis from agricultural economists and provoked an investigation by the federal Competition Bureau. All grain farmers should read the bureau report. It lays out the elevator […] Read more
Canfax report
This cattle market information is selected from the weekly report from Canfax, a division of the Canadian Cattle Association. More market information, analysis and statistics are available by becoming a Canfax subscriber by calling 403-275-5110 or at www.canfax.ca. New highs for steers Western Canadian fed prices have been averaging in the upper $250s per hundredweight […] Read more
WP livestock report
Hogs The U.S. national live price average for barrows and gilts was $69.17 May 10. It was $69.36 May 3. U.S. hogs averaged $88.41 on a carcass basis May 10, down from $89.38 on May 3. The U.S. pork cutout was $99.77 per hundredweight May 10, up from $98.12 May 3. The estimated U.S. weekly […] Read more
Canada’s crush boom to benefit Aussie canola
A significant increase in domestic crush capacity is expected to lower exports and reduce competition for Australia
SASKATOON — The future looks bright for Australia’s canola sector, according to a leading agricultural bank. Commonwealth Bank of Australia is forecasting reduced competition from its main competitor and continued strong demand from its top export market. Related stories: Canada’s exports are forecast to decline due to rising domestic crush. Canada has 14 crush facilities […] Read more
Wheat price outlook hinges on Russia
The market has already begun to respond as dry conditions and now frost significantly threaten production this year
SASKATOON — The 2024-25 wheat market outlook hinges on one key question. “The bottom line is, it comes back to Russia. Are they going to be able to have a big enough crop again this year to dominate world exports and hold prices down, or not?” DTN lead analyst Todd Hultman said during a recent […] Read more
Soybean convergence bodes well for prices
Brazilian prices have almost caught up with the American crop, which is unexpected but welcome news for the market
SASKATOON — Todd Hultman is closely monitoring a potentially “very bullish” situation for the soybean market. Freight on board (f.o.b.) soybean prices for July have dramatically narrowed between Brazil and the United States. Related stories: Soybean prices in Paranagua that were US$1.75 per bushel lower than those in New Orleans in February are now a […] Read more
Tightening urea supply may see prices increase
The addition of global production capacity is expected to slow down due to companies' reluctance to build new plants
SASKATOON — The global urea market is expected to tighten up in the coming years, according to a leading manufacturer of the product. The peak of new capacity additions has passed and there is significantly lower supply growth from 2024 onward. Related stories: “This clearly indicates a tightening supply-demand balance longer term,” Yara International chief […] Read more
Canola feels there is room for improvement in U.S. SAF tax credit
The industry plans to continue lobbying the U.S. government for better access to the sustainable aviation fuel program
SASKATOON — Canada’s canola industry had a mixed reaction to new sustainable aviation fuel tax credit guidelines coming out of the United States. The good news is that canola-based SAF qualifies for the base blender’s credit of US$1.25 per gallon because it was previously approved by the U.S. Environmental Protection Agency as an eligible feedstock. […] Read more
