Markets
Ability to respond quickly to war shortages expected to be limited because most of world’s crop has already been planted
High wheat prices will stick around in 2022-23 due to a lack of supply-side response, says an analyst. “It just doesn’t appear right now that we’re going to be growing our way out of this high-priced environment in the short-term,” said Will Osnato, senior research analyst with Gro Intelligence. That is because three-quarters of the […] Read more
Markets
Wheat production continues to lose out in battle for acres
U.S. farmers are expected to plant only one percent more wheat this year, despite tightening supply and booming prices
There is one sentence in the 2022 U.S. Prospective Plantings report that stood out for MarketsFarm analyst Bruce Burnett. It was a comment related to the expectation that growers will plant 47.4 million acres of wheat, a one percent increase over 2021 area. “If realized, this represents the fifth lowest all wheat planted area since […] Read more
Palm oil production to increase
WINNIPEG (MarketsFarm) — There’s to be a small increase in palm oil production in Indonesia in 2022-23, according to the U.S. Department of Agriculture’s attaché in Jakarta. The USDA official pegged palm oil output to rise by 1.1 percent at 46 million tonnes due to favourable weather and higher prices for producers. Also, the attaché […] Read more
Kabuli chickpea prices on their way up
Kabuli chickpea prices have rapidly escalated in the wake of Russia’s invasion of Ukraine. Colin Young, owner of Mid-West Grain Ltd., a chickpea processor near Moose Jaw, Sask., said Russia had been keeping kabuli prices in check early in the 2021-22 campaign. “When we were offering chickpeas at $1,300 per tonne, Russia was in there […] Read more
Seeding decisions based on economics, not war headlines
Russia’s war on Ukraine and its impact on crop production and global agricultural trade might rule the headlines, but when it comes to North American seeding plans the cold logic of crop budgets determine what gets seeded. Black Sea wheat and corn supplies are in doubt, but the world is also short on oilseeds, driving […] Read more
More action urged to increase agricultural productivity
It’s hard to figure out where we are in international trade as war rages in the invaded Ukraine and as pandemic continues to slap us around. But through the economic smoke and wreckage of the past two years, we can still see the vague outline of the pre-COVID world of trade and it wasn’t pretty […] Read more
Record losses reported in Chinese hog sector
International feedgrain markets could feel the pinch as farmers respond to low prices by substituting cheaper ingredients
China’s hog producers are losing record amounts of money and are cutting back on soybean meal and corn, according to a news report. Farmers are losing an average of US$75 on every hog they slaughter, which is the worst loss on record, says a Reuters story. That compares to an average profit of $157 per […] Read more
All eyes trained on U.S. corn crop this season
There is a dizzying array of market factors that could influence crop prices in the upcoming crop year, but Neil Townsend likes to make things simple. “You can boil 2022-23 down to one variable and that’s U.S. corn yield,” said the FarmLink Marketing Solutions analyst. U.S. farmers have indicated they intend to plant 89.5 million […] Read more
WP livestock report
Hogs The U.S. national live price average for barrows and gilts was $80.04 April 1, down from $82.39 March 25. U.S. hogs averaged $100.87 on a carcass basis April 1, down from $108.84 March 25. The U.S. pork cutout was $103.60 per hundredweight April 1, down from $109.90 March 25. The estimated U.S. weekly slaughter […] 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. Packers make buys All three packers bought cattle last week on the western Canadian cash market. Dressed […] Read more
