Markets
Growers who are holding their breath for US$24 spring wheat futures need to exhale, says an analyst. “Not a chance,” said Chuck Penner, owner of LeftField Commodity Research. That is the level that futures values achieved in 2007-08 but the circumstances were far different back then. The Canadian Wheat Board was a major player at […] Read more
Markets
Argentina’s soybean crop at a crossroads
Argentina’s soybean crop is stressed and amid a stretch of extreme hot and dry weather. “We’re at a very important crossroads right now,” said Drew Lerner, president of World Weather Inc. There is no rain in the forecast until Jan. 17th and daytime highs will remain in the 34 to 43 C range until then. […] Read more
Fertilizer-maker Yara to stop buying potash from Belarus due to sanctions
OSLO, Jan 10 (Reuters) – Norwegian fertilizer maker Yara said on Monday it will wind down purchases of potash from Belarus by April 1 as international sanctions made it impossible to continue the trade. Yara estimates that it buys 10-15 percent of the annual output of state-owned Belaruskali, one of the world’s largest producers of […] Read more
Canada resists pressure to drop vaccine mandate for cross-border truckers
OTTAWA, Jan 9 (Reuters) – Canadian Prime Minister Justin Trudeau is pushing ahead with a vaccine mandate for international truckers despite increasing pressure from critics who say it will exacerbate driver shortages and drive up the price of goods imported from the United States. Canada will require all truckers entering from the United States to […] Read more
Feds form ministerial committee on P.E.I. potatoes
Five federal ministers will work to restore trade of fresh potatoes from Prince Edward Island. Agriculture minister Marie-Claude Bibeau announced today that a ministerial co-ordinating committee would begin meeting next week to work on the issue. The U.S. banned imports of P.E.I. potatoes Nov. 22 after the discovery of potato wart and has asked for […] Read more
‘Hot’ global economy finds its groove
A 5.5 percent increase in global gross domestic product is predicted for this year, despite a resurgence in COVID-19 cases
Export Development Canada is forecasting another strong year of global economic growth in 2022. It predicts a 5.5 percent increase in global gross domestic product, down slightly from six percent in 2021. That is despite the Omicron-related resurgence in the COVID-19 pandemic. “The trajectory of the global economy seems to have decoupled from the trajectory […] Read more
‘Wild’ canaryseed market takes a breather
International buyers were in a rush to lock up supplies but are now turning to alternatives in response to high prices
The canaryseed market is in a standoff as international customers stop buying and Canadian farmers are no longer selling. The market started rallying in the summer and reached a record of 55 cents per pound by early fall. It has since cooled to around 50 cents. “It has been a very wild market, to say […] Read more
Green lentil sales outlook to India considered lacklustre
A poor pigeon pea crop will boost lentil imports, but sales will likely come from Africa and Myanmar rather than Canada
India’s pigeon pea crop has considerable quality damage but don’t expect increased demand for Canada’s limited supply of green lentils, say analysts. IGrain India Pvt is forecasting 3.1 million tonnes of Indian pigeon pea production, down slightly from last year. Crop damage was caused by harvest winds, rain and serious pest infestations. IGrain estimates 20 […] Read more
This year looks profitable for Man. growers
Analysis conducted by Manitoba Agriculture shows most of the big acre crops should turn a profit in the province in 2022
Growers with average crops should have a profitable year in 2022, Manitoba Agriculture estimates. Based on current cost-of-production, forward prices and expected yields, only barley looks to be a money loser among the big-acre crops on the eastern Prairies. That’s in terms of “net profitability,” which includes costs for land, machinery and living costs. In […] Read more
Nice 2022 crop market outlook: shame about the risk
When you add up everything, growing crops in 2022 should be profitable. The bottom line, assuming something like normal weather, should be pretty good, if you look at the analysis of Manitoba Agriculture’s farm management team. But those bottom-line calculations hide some giant risks that become obvious when you look at the elements of those […] Read more
