It’s become a familiar story in Manitoba. If growers have a choice between soybeans and another crop, beans usually win out. Such is the case this spring with sunflowers. Soybeans will set another acreage record and sunflowers will possibly hit the second lowest level ever in the province. Statistics Canada has predicted 50,000 acres of […] Read more
News
Lower North American durum acres keeps attention on yields
Winnipeg, May 24 (CNS Canada) – North America’s smaller durum acreage base in 2017 could give prices a boost later in the growing season, depending on how yields shape up for the new crop, according to a U.S. analyst. Disease issues in 2016 and better projected returns for other crops in 2017 are expected to […] Read more
Top grains traders face tough choice: Partner, merge or wait for bad weather
By Tom Polansek CHICAGO, May 24 (Reuters) – Commodity trader Glencore Plc’s confirmation on Tuesday that it sought a tie up with grains trader Bunge Ltd likely signals the start of a wave of consolidation and partnering in the industry, as middlemen struggle to make profits amid a massive global food glut. Bunge and other […] Read more
Stronger loonie weighs on canola as trade watches weather
Canola futures dipped Wednesday as the loonie rose about a half cent. The market was watching weather in the western part of the Prairies where rain and strong wind was delaying seeding. Chicago wheat futures closed higher on Wednesday on light short covering, one day after the spot contract fell about one percent on better-than-expected […] Read more
Feds extend comment time on deferred cash grain tickets
The federal government is giving the Canadian grain industry another two months to voice their opinions on deferred cash grain tickets. On May 23, the federal finance department issued a statement confirming that the public consultation period on deferred cash purchase tickets for grain would be extended to July 24, 2017. The initial deadline had […] Read more
Realized net farm income up again
Realized net farm income has risen for the third year in a row, says Statistics Canada. The agency reported Wednesday that realized net farm income was $8.8 billion in 2016, up 7.6 percent. Realized net income is the difference between cash receipts and operating expenses, less depreciation, plus income in kind. The largest increase of […] Read more
CME live cattle futures tumble Wed. morning, hogs climb
CHICAGO, May 24 (Reuters) – Chicago Mercantile Exchange live cattle futures are falling sharply on Wednesday, hit by fund liquidation and Tuesday’s wholesale beef price retreat, said traders. * At 10:29 a.m. CDT June was down 1.950 cents per pound to 121.125 cents. August was 2.350 cents lower at 118.950 cents, and below the 10-day […] Read more
Manitoba crop report says seeding picks up
WINNIPEG, May 24 (CNS) – Seeding is 85 to 90 percent complete in Manitoba, according to the province’s latest crop report. Frost has been a factor in some areas with lows between -2 to -6 C. Rain in the eastern and Interlake areas has helped to re-supply surface soil moisture and boost emergence of later […] Read more
U.S. farm groups oppose Trump’s cuts to ag spending
CHICAGO, May 23 (Reuters) – U.S. farm groups on Tuesday pushed back against President Donald Trump’s proposal to slash agriculture spending, viewing it as a fresh threat to a struggling farm economy. The White House on Monday proposed $46.54 billion in cuts to federal government funding for the agriculture sector over the next 10 years, […] Read more
Canola up Tuesday on worry of rain, seeding delay
Worries about seeding delays from predicted heavy rain this week helped lift canola futures on Tuesday. July closed at $525.80, up $2.60 and November crept back above the $500 mark to close at $501.20, up $1.30. The rain expected Wednesday and Thursday is forecast for areas of the northern grain belt that are already well […] Read more
