Markets
The ICE Futures canola market may have seen some large price swings over the past few weeks, but remains relatively rangebound overall with values sitting just below their all-time highs. The upward momentum is slowing down, said David Derwin, a commodities investment advisor with PI Financial in Winnipeg. However, he added that it remains to […] Read more
Markets
Sask. potash mine plans fast-tracked
The war in Ukraine is causing BHP to accelerate construction timelines on its Jansen potash mine project in Saskatchewan. The Australian mining company originally planned to complete construction on stage one of the project in 2026 and start producing 4.35 million tonnes of potash annually in early 2027. It now hopes to move those dates […] Read more
B.C. funds renewable diesel project
Parkland Corp. is one big step closer to creating a large new market for Canadian canola oil. The Calgary energy company has received a commitment from the British Columbia government to cover more than 40 percent of the cost of its proposed $600 million renewable fuels investment at its Burnaby Refinery. The money is coming […] Read more
Ukraine faces 35 percent wheat drop
Expectations are based on analysis of satellite-based normalized difference vegetation index maps supplied by NASA
A consensus appears to be emerging about the size of Ukraine’s upcoming wheat crop. The U.S. Department of Agriculture is forecasting a 2022-23 harvest of 21.5 million tonnes, down 35 percent from last year and 23 percent below the five-year average. That is very much in line with a pre-USDA report estimate from French data […] Read more
Germany may reduce crop-based biofuel use
Such a move to ease pressure on food supply could hurt canola demand, but Canadian sector says no reason to worry
Governments around the world are taking steps to limit oilseed-based biofuel production to keep food price inflation in check. Germany plans to reduce the use of biodiesel produced from oilseed crops like canola, according to numerous reports. EurActiv reports that details of a reduction in Germany’s cap on crop-based biofuels are being discussed between the […] Read more
CBOT to add Canadian wheat futures contract
Canadian spring wheat will have a futures contract on the Chicago Board of Trade in June. If it works, it will provide a price window into the often-opaque world of western Canadian wheat values, at least those in Vancouver. “We are pleased that CME Group (owners of the CBOT) and their customers recognize the independent […] Read more
CBOT plans Canadian wheat contract, but will it survive?
Designing a futures contract is one thing. Getting people to use it is another. That’s always been true and it’s going to be true about the new Chicago Canadian wheat futures contract. “Liquidity will be the big issue,” said Errol Anderson of Pro Market, who is eager to see the new contract on the Chicago […] Read more
USDA trims crop outlook, keeps pressure on food inflation
The world is desperate for good news on the inflation front, but it got no solace in last week’s U.S. global crop supply and demand report. Already exceptionally strong wheat and corn prices leapt higher as the U.S. Department of Agriculture cut its forecast for the U.S. hard red wheat crop and lowered its U.S. […] Read more
Russian farmers want quick pea deal with China
Country’s peas had largely been sold to Latvia and Lithuania, but that market is now in jeopardy due to the war on Ukraine
Russia’s pea producers have asked their government to intensify negotiations with China on a phytosanitary agreement that would allow trade between the two countries. That could create stiff competition in Canada’s top market for the commodity. The plea is coming from the Siberian Grain Consortium Association, according to a story published in the online publication […] Read moreCanfax 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 prices rally Fed cattle prices have rallied $10 per hundredweight over the past seven weeks, moving […] Read more
