Markets
The country’s growers produced 92.77 million tonnes of winter and spring wheat last year, second only to 2022
REUTERS — Russia’s grain harvest in 2023 will amount to 142.6 million tonnes in net weight, down 9.5 percent from the record harvest of 2022 but still its second largest, according to state statistics published Dec. 25. The harvest of winter and spring wheat totalled 92.77 million tonnes, down from 104.23 million tonnes in 2022, […] Read more
Markets
China eyes boosting farm tech
REUTERS — China will use “all strengths” to accelerate the advancement and use of agricultural technology to secure higher productivity and a stable supply of crops, the agriculture ministry said Jan. 4. “It is necessary to intensify the application of research and development, leave no stone unturned to accelerate high-yield and high-oil soybeans, breakthrough in […] Read more
Commodity prices to stay high
REUTERS — HSBC said Jan. 2 that squeezed supply, improved Chinese demand and the global energy transition will keep commodity prices elevated in 2024 before falling in the following year. “We forecast commodity prices to rise by an average of two percent in 2024 and fall by four percent in 2025,” HSBC wrote in a […] Read more
WP livestock report
Hogs The U.S. national live price average for barrows and gilts was not available for Jan. 5 and Dec. 21. U.S. hogs averaged $$44.56 on a carcass basis Jan. 5, down from $47.96 Dec. 21. The U.S. pork cutout was $ 84.20 per hundredweight Jan. 5, up from $81.35 Dec. 21. The estimated U.S. weekly […] 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. Many cattle contracts Many feedlots say a large percentage of cattle for the first quarter year are […] Read more
Pulses seen as COP28 winner
SASKATOON — A recently concluded global meeting on climate change has created a huge opportunity for pulses, say industry officials. They contend that the 28th Conference of the Parties to the United Nations Framework on Climate Change (COP28) has paved the way for increased global attention and investment in crops such as peas, lentils, chickpeas […] Read more
Court remedy sought for unfulfilled contracts
Sask. company claims equipment breakdown at a third-party mill caused it to declare force majeure on contracted oats
REGINA — More than two dozen farmers are moving ahead with legal action against Purely Canada Foods after it failed to honour contracts for gluten-free oats. A Jan. 8 news release said the 27 farmers had completed mandatory mediation with Purely Canada, and its parent company Above Foods, in late 2023 but the matter had […] Read more
Low expectations could make 2024 a good year for ag
There’s nothing like missiles and drones being shot down over the Red Sea while streaking toward cargo ships to shake up the 2024 forecasts. But that’s the world we’re living in for this new year. Prognosticators’ markets, commodities and economic forecasts can be summed up as mostly dull, with a chance for explosions. For both […] Read more
Sustainable aviation fuel funded in Man.
WINNIPEG (MarketsFarm) — The Manitoba government signed an agreement Dec. 19 to provide $2.9 million over two years to Azure Sustainable Fuel Corp. for its front-end engineering design study toward sustainable aviation fuel. “The agriculture sector plays an important role in creating sustainable decarbonization solutions that add value to Manitoba by growing revenue and employment. […] Read more
Lentil carryout to be tight
WINNIPEG (MarketsFarm) — Lentil stocks are forecast to be extremely tight by the close of the 2023-24 marketing year, which should keep prices well supported despite expectations for fewer exports. Updated supply-demand estimates from Agriculture Canada pegged lentil carryout for the current crop year at only 50,000 tonnes, which would be a third of the […] Read more
