Markets
Crop futures drifted a little lower on Friday, given the dominant market sentiment that supplies of the major grain and oilseeds are ample. But even while Statistics Canada this week increased its estimate of the canola crop by eight percent to 21.3 million tonnes compared to September estimate, canola futures have barely budged over the […] Read more
Markets
Canola futures fairly steady even with bigger crop estimate
P.E.I. spud shortfall sparks imports
An eight percent decline in potato production and growing demand forced processing plants to buy potatoes from Alberta
There are many obscure and strange feats in the Guinness World Records, such as the largest collection of garden gnomes (2,010). However, it’s unlikely that hauling potatoes, for distance, is mentioned anywhere in the book. If it was, a record is probably being set in Canada right now because french fry plants on Prince Edward […] Read more
La Nina makes its presence felt; Argentina dry, Australia wet
The water in the Pacific east and central equatorial region is cooling and climate forecasters say we are officially in a weak La Nina. However, the situation already appears to be influencing weather. Just before I delve into the La Nina situation, I’ll draw your attention to the Statistics Canada crop production report that came […] Read more
Bumper Russian grain crop likely
MOSCOW, Russia (Reuters) — Russia will likely produce another large grain crop in 2018 following a record crop this year that is increasing pressure on prices, leading agriculture consultancy SovEcon has said. In the first major estimate for 2018, SovEcon said Russia’s grain harvest could amount to 128.2 million tonnes next year after this year’s […] Read more
India’s rising wheat, pulse output likely to curb imports
MUMBAI, India (Reuters) — India’s production of wheat and pulses is expected to jump next year because a hike in the government’s assured purchase prices and ample rainfall have prompted farmers to plant more of the winter crops, industry officials said. Higher production will help the south Asian country reduce imports of pulses in the […] Read more
Canola drifts lower, weighed down by falling soy
Strong weekly U.S. soybean exports Thursday were not enough to stop the oilseed’s contract falling, which dragged down canola. Soybeans fell a little more than one percent mostly on profit taking and canola was down 0.4 percent. Statistics Canada increased most of its crop forecasts in Wednesday’s report, which weighed on canola and wheat. StatsCan […] Read more
Analyst more optimistic on corn
There’s a huge difference in farm profitability depending on whether long-term corn prices are at US$3-$3.25 or $4-$4.25. That’s why many analysts are seriously debating what prices farmers should base their long-term farm decisions upon. Currently, many American farmers are losing money or just breaking even and need to make decisions for the long term. […] Read more
High chance of La Nina will affect world crops
La Ninas have historically been tough on Argentina, but the impact isn’t expected to be as bad this time
Weather watchers are leaning toward predictions for a La Nina developing this winter and that has ramifications for crop production around the world. Australia’s Bureau of Meteorology said there is a 70 percent chance or triple the normal likelihood of La Nina occurring. The Climate Prediction Center in the United States predicts a 65 to […] Read more
Australia’s wheat crop forecast falls to 20.3 million tonnes
SINGAPORE (Reuters) — Australia’s 2017-18 wheat crop forecast has been lowered, the Australian Bureau of Agricultural and Resource Economics and Sciences said, after recent storms damaged the crop and following a severe drought earlier in the season that reduced yields. The world’s fourth largest wheat exporter is forecast to produce 20.3 million tonnes of wheat […] Read more
Canadian dollar set to weaken heading into New Year
Winnipeg, Dec. 7 (CNS Canada) — The Canadian dollar has seen some wide moves over the past week, but appears to be trending lower relative to its U.S. counterpart heading into 2018, according to a currency analyst. “We see (the Canadian dollar) weaker for the first quarter of this year,” said currency strategist Mark Chandler, […] Read more
