Markets
Canadian pork exports posted a strong first four months, thanks to improved sales to Japan, South Korea, Mexico and the Philippines. Sales to China remain significant, but are down from the same period last year, and the future of the Asian giant’s demand is uncertain because of geopolitical issues related to electric vehicles (EVs). Chinese […] Read more
Markets
Canfax Report
Fed price declines From highs in early June, fed cattle prices have dropped $8.50 per hundredweight. For most of this year, fed cattle prices followed a similar trend to last year. Last week, dressed sales were reported from $428-$429 per hundredweight delivered. There has been a significant basis shift over the past month. In early […] Read more
Russia now sells more peas to China than Canada
Canada used to have a 95 to 97 per cent market share but that has dropped to 44. 6 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, […] Read more
La Niña expected to return
SASKATOON — Well, that was quick.Climatologists are already waving goodbye to El Niño and hello to yet another possible La Niña event.The U.S. National Oceanic and Atmospheric Administration says ENSO-neutral conditions are now present, a phenomenon known in meteorological circles as La Nada.That is a period when world weather patterns are not influenced by either […] Read more
China displaced as agricultural market driver
China accounted for 28 per cent of global food consumption growth in the last decade, but that could fall to 11 percent SASKATOON — India, Southeast Asia and Sub-Saharan Africa are displacing China as drivers of agricultural markets, according to a new report.The paper, jointly released by the United Nations’ Food and Agriculture Organization (FAO) […] Read more
Buyers wait out canaryseed growers
Traders think prices will need to fall some more before customers are comfortable enough to get back into the market SASKATOON — Traders think canaryseed prices are still too high.“We need a bit lower prices, I believe, for buyers to be comfortable risking their capital,” said David Nobbs, a trader with Purely Canada Foods.Rayglen Commodities […] Read more
Global yields have not kept up with increasing demand
Sluggish production blamed on adverse weather conditions and high input costs that lead to reduced fertilizer use SASKATOON — Rising demand and below-trend yields is 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 […] 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 where 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 more
New BRICS grain exchange idea gains traction
Group appears to be getting behind Russia’s proposal for a new marketing system, but market 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
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
