Markets
Russia’s wheat crop will be considerably smaller in 2023-24, but its exports are expected to remain about the same as this year, according to an analyst. SovEcon is forecasting 85.3 million tonnes of production, down from the 104.2 million tonnes harvested last year. “Last season the weather was almost ideal,” SovEcon analyst Andrey Sizov said […] Read more
Markets
Mexico’s GMO stance found alarming
Canada is deeply concerned about Mexico’s recent departure from its longstanding approach to regulating genetically modified crops. “It was a global stalwart of science-based decision-making and it’s very disappointing to see them drifting away from that,” said Ian Affleck, vice-president of plant biotechnology with CropLife Canada. The slide began in 2018 with the election of […] Read more
India expected to buy more lentils
Hot and dry conditions predicted for this summer could hurt the crop, but Australia will provide fierce competition
There should be good demand for lentils in Canada’s top market this year, but also fierce competition, says a broker. Vivek Agrawal, director of JLV Agro, a commodity brokerage firm based in Pune, India, thinks India will import 100,000 to 200,000 tonnes more lentils than usual in 2023-24. Pigeon pea prices are sky-high in that […] Read more
Canola prices tank as market traders head for the doors
Canola futures prices have been on a wild ride. Nearby futures lost about $120 per tonne in two weeks before rebounding slightly at the tail-end of the week ending March 24. “We’re seeing an exit of money from the long side of the market over the last month or so,” said Ken Ball, canola analyst […] Read more
Drought ravages durum crop in North Africa
Canadian exports to the region are expected to remain strong as vegetative conditions continue to worsen this year
North Africa’s durum crop is again under duress, which bodes well for Canadian exports to that region. Vegetative health maps show most of the region is experiencing below average crop growth. Drew Lerner, president of World Weather Inc., said northern Morocco and north-central Algeria are in better shape than a year ago, but the rest […] Read more
Domestic feedgrain prices seen slipping
Feed wheat and barley prices in Western Canada have slowly trended lower over the past few months, with prices for both grains now on par with imported corn from the United States into the key Lethbridge feedlot alley. All three grains are trading at around $410 per tonne into Lethbridge, according to Jim Beusekom, president […] Read more
Hoping for a year of fewer anxieties and calmer markets
After staring at supply-demand ratios and historical futures price graphs, I’ve concluded that crop markets are in a similar state to what they were in the early spring of two years ago. And I wonder if analysis of supply and demand will return as the key factor dominating crop price movement after a year when […] Read more
Take comfort in the good news that gets little attention
There’s nothing more damning (to my profession) than the phrase, “no news is good news.” It is usually uttered by medical folks who have just poked, probed, scanned, scoped or biopsied something in you as a way of saying that you shouldn’t expect to hear anything from them unless it’s bad. Then you get to […] Read more
Wheat, canola acres expected to rise this year
Analyst predicts barley, chickpea and soybean acres will also increase while durum, flax, lentils and peas will be down
OTTAWA — There are some winners and losers when it comes to expected seeded acreage this year, said Chuck Penner from LeftField Commodity Research. He told the Canadian Crops convention earlier this month that his analysis shows a spring wheat “guesstimate” of 19.1 million acres and canola acreage of 22.1 million acres. The wheat estimate […] Read moreWP livestock report
Hogs The U.S. national live price average for barrows and gilts March 24 was $56.90, down from $61.05 on March 10. U.S. hogs averaged $76.58 on a carcass basis March 24, down from $77.61 March 17. The U.S. pork cutout was $81.05 per hundredweight March 24, up from $80.95 March 17. The estimated U.S. weekly […] Read more
