Planting is underway in Saskatchewan but seeding progress has been slow and wet field conditions have delayed field operations in many areas. As of May 1, just one percent of the province’s 2017 crop had been seeded, according to Saskatchewan Agriculture’s first provincial crop report of 2017. That’s down from 15 percent as of May […] Read more
News
CTA weighs in on cost of moving grain by rail
The Canadian Transportation Agency is projecting a 4.1 percent increase in the cost of moving western Canadian grain by rail this year. The increase is in the volume related composite price index (VCRPI), which is used to determine maximum revenue entitlements for Canadian National Railway and Canadian Pacific Railway. MREs, which are also known as […] Read more
Canola edges higher as farmers hope for good seeding weather
Canola edged slightly higher on Wednesday as weather remained the critical factor in crop markets. Soybeans and corn also rose as heavy rain continues to sweep southern Missouri and Illinois. But Iowa and northern Illinois are dry enough for field work. Activity on the Prairies will pick up as dry weather and summer-like temperatures are […] Read more
Bunge profit dives as grain glut hits margins; shares drop
By Karl Plume CHICAGO, May 3 (Reuters) – U.S. agricultural trader Bunge Ltd reported a sharply lower first-quarter profit on Wednesday and cut its full-year earnings forecast as slow crop sales by farmers in South America squeezed margins in its core agribusiness unit, sending shares tumbling. White Plains, New York-based Bunge said net income available […] Read more
Uncertain prospects for snow-hit wheat in western Kansas
By Julie Ingwersen JETMORE, Kansas, May 3 (Reuters) – Yield prospects for hard red winter wheat in western Kansas were uncertain after a major weekend storm buried some fields under heavy snow, scouts on an annual crop tour said on Wednesday. Much of the wheat was flattened in the fields hit hardest by snow, and […] Read more
Drought predicted for Alberta this summer
Farmers in central and northern Alberta should brace for drought this summer, according to AccuWeather. “We think it’s going to be a very warm summer,” said Canadian weather expert Brett Anderson. It is also going to be a dry summer. June will have near normal precipitation but July and August will turn dry as a […] Read more
Canola, winter wheat rise but rest of market gives back gains
Kansas hard red winter wheat, battered by a weekend blizzard, hung on to close up two cents in the July contract but otherwise U.S. crop markets gave back a lot of the gains they posted on Monday. In Canada July canola closed at $520.80 up $5.20 or about on percent. New crop November closed at […] Read more
Mosaic profit misses on lower potash, phosphate prices
May 2 (Reuters) – U.S. fertilizer maker Mosaic Co. reported a smaller-than-expected first quarter profit on Tuesday, as higher sales volumes were offset by lower phosphate and potash prices. However, the company said it expects higher realized prices for potash and phosphate in the second quarter and earnings to improve “meaningfully”. Based on Mosaic’s volume, […] Read more
Manitoba farm groups plan to work together
Winnipeg, May 2 (CNS Canada) – Five commodity organizations representing most of the crops grown in Manitoba are looking to join forces to better serve the province’s farmers, with a Memorandum of Understanding (MOU) signed on May 2 committing the groups towards working towards a merger. The involved organizations include Manitoba Corn Growers Association (MCGA), […] Read more
ADM posts stronger profit but trading woes cause shares to dive
CHICAGO, May 2 (Reuters) – U.S. agricultural trader Archer Daniels Midland Co on Tuesday cautioned that massive global grain stocks are making it difficult to turn a profit trading grain internationally, sending its shares plummeting despite reporting a higher first-quarter profit. The warning highlighted a string of trading woes at ADM, which has shed several […] Read more
