Markets
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
Markets
Harvest boosts farmers’ grain deliveries
Winnipeg (MarketsFarm) — Farmers are delivering more grains and oilseeds as harvest progresses and that should spark more interest in exports. The latest weekly data from the Canadian Grain Commission reports light export activity for canola through the first six weeks of the 2022-23 crop year, but growing supplies in the commercial pipeline thanks to […] Read more
WP livestock report
Hogs The U.S. national live price average for barrows and gilts was not available Sept. 16. U.S. hogs averaged $90.86 on a carcass basis Sept. 16, down from $91.28 Sept. 9. The U.S. pork cutout was $106.39 per hundredweight Sept. 16, up from $102.87 Sept. 9. The estimated U.S. weekly slaughter to Sept. 17 was […] Read more
Canfax report
This cattle market information is selected from the weekly report from Canfax, a division of the Canadian Cattlemen’s Association. More market information, analysis and statistics are available by becoming a Canfax subscriber by calling 403-275-5110 or at www.canfax.ca. Fed market rises The fed market usually puts in its summer low at this time of year, […] Read more
Tight rice supplies could boost wheat demand
Wheat markets could be getting a demand bump from an unlikely source in 2022-23, says an analyst. Tight global rice supplies could result in changing trade patterns in the Indian Subcontinent. “There could be some wheat that has to be used as a substitute for rice,” said MarketsFarm analyst Bruce Burnett. On Sept. 9, India […] Read more
Will canaryseed ride on millet coattails?
It is unclear whether canaryseed will benefit from the good fortunes of a related crop, says an industry official. The United Nations has declared 2023 as the International Year of Millet. Millet is often used in conjunction with canaryseed in birdseed mixes, so the fate of the two crops is intertwined in that market. But […] Read more
Farmers’ grain deliveries pick up speed
The amount of grain in storage at prairie elevators is growing quickly, following consecutive weeks of brisk producer deliveries across the West. According to the Grain Monitoring Program, managed by Edmonton-based Quorum Corp., producer deliveries to country elevators in Week 5 of the 2022-23 crop year exceeded 1.5 million tonnes. According to GMP, that pushed […] Read more
Brazil soy planting begins in top grain state Mato Grosso
SAO PAULO (Reuters) - Planting of soybeans in the world’s largest producer kicked off in Brazil’s Mato Grosso state on irrigated areas while farmers wait for rains to expand sowing, according to agribusiness consultancy AgRural on Monday. A few plots, most of them irrigated, have also been sown with soy in Mato Grosso do Sul and São […] Read more
Canola crush margins reach ‘staggering’ levels
Canola crush margins are leaving one analyst at a loss for words. “They have soared up to levels that are just beyond anybody’s description,” said Ken Ball, commodities futures adviser with PI Financial Corp. “I have run out of adjectives to describe them.” His crush index hit $325 per tonne yesterday, representing a gross margin […] Read more
Conditions grim for U.S. winter wheat seeding
Conditions are rife for another poor start for the U.S. hard red winter wheat crop, but there could be a massive Brazilian soybean harvest next year, say analysts. La Nina is hanging around, and that likely means a third consecutive dry fall in the southern U.S. Plains. Weather models from the U.S. Climate Prediction Centre, […] Read more
