Markets
Canada once had a 95 to 97 per cent market share but has dropped to 44.6 per cent, compared to Russia’s 49.1 per cent
SASKATOON — Russia has officially displaced Canada as the top exporter of peas to China. Russia’s Union of Grain Exporters said the country shipped 1.13 million tonnes of the crop to that market in 2023-24, according to a Reuters story. That gave it a 49.1 per cent market share compared to Canada’s 44.6 per cent. […] Read more
Markets
Crude oil is up this summer, but future prices unclear
Crude oil prices spent much of the spring lower than forecasts made in late winter but have jumped up in recent weeks on strong demand during the busy summer travel season. West Texas crude, the North American benchmark, spent most of the winter in the US$70s per barrel, which was a bit lower than expected. […] Read more
Entrepreneurs tout products at Ag in Motion event
Glacier FarmMedia – Entrepreneurs pitched their products at Ag in Motion‘s AgTech Breakfast. Trevor Scherman, co-founder of Combine Settings, was first up to talk about his website, designed to help farmers reduce harvest losses. “Losses at harvest are astronomical,” he said during the event hosted by Startup TNT. Canola farmers lose an average of 1.3 […] Read more
Canfax report
This cattle market information is selected from the weekly report from Canfax, a division of the Canadian Cattle 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 steady Alberta weighted average fed prices remained steady with the previous week. Fed steers and […] Read more
WP livestock report
Hogs The U.S. national live price average for barrows and gilts was not available July 12 or July 5. U.S. hogs averaged $83.04 on a carcass basis July 12, down from $89.45 July 5. The U.S. pork cutout was $ 98.84 per hundredweight July 12, down from $94.91 July 5. The estimated U.S. weekly slaughter […] Read more
Grain movement looks good but faces challenges
Lower crop prices slowed deliveries at the beginning of the 2023-24 year, while railways struggled with labour issues
SASKATOON — Grain movement has been on track this crop year despite some challenges, but it hasn’t been as good as last year, according to Canada’s grain monitor. “There has been so much stuff that has happened this year that has confounded the movement,” said Quorum Corp. president Mark Hemmes. The first challenge was the […] Read more
Anti-deforestation law’s impact on canola remains uncertain
The European Union legislation could change trade flows, but it is hard to predict the overall effect on canola demand
SASKATOON — It is unclear what impact the European Union’s looming anti-deforestation regulation will have on canola demand, says an industry official. The EU’s Regulation on Deforestation-free Products entered into force June 29, 2023. It stipulates that any business or trader who markets commodities such as cattle, wood, cocoa, soy, palm oil, coffee, rubber and […] Read more
Wheat growers may see premium over durum
Canadian farmers planted 6.36 million acres of durum, 5.5 per cent more than 2023, while U.S. acres jumped 29 per cent
SASKATOON — The price spread between spring wheat and durum will likely narrow in 2024-25, says a grain industry analyst. In fact, this could be one of those rare years when spring wheat momentarily trades at a premium to durum, said GrainFox chief analyst Neil Townsend. Canadian farmers planted 6.36 million acres of the crop, […] Read moreNew BRICS grain exchange idea gains traction
Group appears to be getting behind Russia’s proposal for a new marketing system, but trade observers remain skeptical
SASKATOON — Russia’s proposal to form a BRICS grain exchange appears to be gaining momentum. BRICS is an intergovernmental organization comprising Brazil, Russia, India, China, South Africa, Iran, Egypt, Ethiopia and the United Arab Emirates, according to Wikipedia. The idea for a BRICS grain exchange was originally tabled by the chair of Russia’s Union of […] Read more
Global demand exceeds crop supply, says economist
Sluggish production blamed on adverse weather conditions and high input costs that led to reduced fertilizer use
SASKATOON — Rising demand and below-trend yields are leading to a tightness in global supply of the major crops, says one of the world’s largest crop input suppliers. The global stocks-to-use ratio for the major crops, excluding China, has been trending down since 2018, Jason Newton, Nutrien’s chief economist, told delegates attending the 24th International […] Read more
