Markets
Ukraine’s 2022-23 crop production is going to be reduced but with ample carryover, the country could have decent volumes to ship, says an analyst from the war-torn country. The Ukrainian government estimates farmers will plant 33.1 million acres of spring crops by April 1, which would be 8.4 million acres fewer than last year. But […] Read more
Markets
Wheat market outlook tied to war developments
Wheat markets are in for a rude awakening when the hostilities in Ukraine come to an end, according to a Black Sea grain analyst. “When there is a ceasefire I think the reversal will be quite substantial,” SovEcon managing director Andrey Sizov said in a recent webinar. He believes world wheat prices should be around […] Read more
China books biggest deal for U.S. corn since May 2021
CHICAGO, April 4 (Reuters) – Chinese buyers bought 1.084 million tonnes of U.S. corn, their biggest purchase of U.S. grain since May 2021, the U.S. government said on Monday. The deal comes as shipments from Ukraine, the world’s fourth biggest exporter of corn, are snarled following Russia’s invasion. China had been a big buyer of […] Read more
Kabuli chickpea prices on the rise
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
Wheat production continues to lose out in battle for acres
There is one sentence in the 2022 United States 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 […] Read more
Lentil demand lacklustre
Chuck Penner thought lentil prices might be heading for the stratosphere at the start of the 2021-22 crop year. He wondered if growers might see red lentil prices of 50 or 60 cents per pound and large green lentils in the 70- to 80-cent range. But demand hasn’t been as ravenous as first anticipated. Exports […] Read more
Bull market expected for peas
Yellow peas might have one last bull run before prices tail off in May, says an analyst. “I think there’s another opportunity yet this year to do some yellow pea pricing,” Chuck Penner, analyst with LeftField Commodity Research, recently told producers during the 2022 Winter Pulse Meeting hosted by Saskatchewan Pulse Growers. The main reason […] Read more
Soy imports called tough habit to break for China
Government takes steps to encourage more production, but low yields compared to corn may be a difficult obstacle
China is trying to wean itself off of its reliance on imported soybeans but that is wishful thinking, according to an analyst. The country spent US$53.6 billion on foreign soybeans in 2021, up 26 percent from the previous year, according to the Dim Sums blog. The only commodities it spent more on were petroleum, iron […] Read more
Weather conditions improving for some key global crops
Global food security concerns are top of mind because of the heart-breaking war in Ukraine so it is welcome news that some crops already in the ground are enjoying improved conditions. Brazil’s giant second corn crop is seeded and progressing with adequate moisture and parts of America’s hard red winter wheat region got some much-needed […] Read more
Have faith in commodity markets, but don’t expect miracles
If demand builds, supply will come. That’s a basic form of faith that applies to most markets. Most of us hold that faith in greater or lesser measures. But it’s dangerous to apply that sort of thinking to medium-term production shortfalls in critical commodities, as some are doing today. You can’t just create commodities that […] Read more
