Canada is expected to easily replace the lost sales because of problems with the crop in Russia, Europe and Australia
SASKATOON — China’s grain imports plunged in September. Wheat imports were down 57 per cent year on year, while corn purchases plunged 81 per cent. Related stories: U.S. Grain/Oilseed Review: Corn moves upward, soybeans, wheat down New trade war would slash U.S. exports: report It is the second straight month of poor sales volumes for […] Read moreTag Archives Bruce Burnett — page 2
‘Wheat OPEC’ idea faces uphill battle
Analysts say proposed BRICS grain exchange is doomed to fail, comparing it to similar initiatives attempted in the past
SASKATOON — A BRICS grain exchange won’t work, say analysts. Russia’s proposal to create a new international grain exchange was recently approved by the BRICS group of countries at a summit in Russia. Related stories: Russia’s proposed grain exchange for BRICS countries may take years to launch BRICS grain cartel unlikely BRICS is an intergovernmental […] Read more
Wheat markets continue to ignore poor global outlook
Crops are in trouble around the world, including in the United States, Russia, Europe, Australia and Argentina
Wheat markets have sold off during the past two weeks, and one would think that crop prospects have dramatically improved since last month. Have the Southern Hemisphere harvest prospects dramatically improved? Maybe the 2025 winter wheat planting conditions in the Northern Hemisphere have turned around the situation at the last minute. Neither situation has occurred, […] Read more
New trade war would slash U.S. exports: report
Canola would be the Canadian crop most directly affected by a trade war because of its link with U.S. soybean prices
SASKATOON — Grain and oilseed prices would fall if a new trade war erupted between the United States and China, according to a new report. The American Soybean Association and National Corn Growers Association sponsored the report prepared by World Agricultural Economic and Environmental Services. Related stories: The groups said there has been “considerable discussion” […] Read more
Market ignores Russian attacks on grain ships
Some think the market has been quiet due to large Aussie crop and infrequency of attacks; others say prices should rise
SASKATOON — Grain markets should be reinstating a Black Sea war risk premium, say analysts. “I’m very surprised that we haven’t started to push a bigger premium into the wheat market, especially soft wheats, because of what’s happening,” said MarketsFarm analyst Bruce Burnett. Related stories: Russia has been stepping up its attacks on Ukrainian grain […] Read more
Hurricane unlikely to fuel long-term fertilizer price increase, analyst says
Glacier FarmMedia – While the price of urea fertilizer has spiked at the Gulf of Mexico as Hurricane Milton bears down on Florida, that increase is unlikely to affect Canadian farmers much, said MarketsFarm analyst Bruce Burnett. “There has a been a spike in the market down at the Gulf, so that eventually translates to […] Read more
Is the big short in wheat coming to an end?
The lifting of the wheat short position by the funds can be seen as a positive sign for wheat prices in the coming months
If there has been one consistent factor in the wheat futures market over the past two years, it has been that managed money funds have held a net short position. The latest Commodity Futures Trading Commission report indicated that funds bought back 10,102 contracts during the week ending on Oct. 1 but remain short a […] Read more
Egyptian purchase helps wheat rally
Major deal partly explains futures price hike despite Ag Canada adding 2.8 million tonnes to the country's wheat supply
SASKATOON — Egypt has set the tone for the 2024-25 wheat market. The world’s largest importer has struck a deal to buy 3.12 million tonnes of Black Sea wheat from November to April, according to Reuters. Related stories: Egypt’s General Authority for Supply Commodities (GASC) will be importing 510,000 tonnes per month from the region […] Read more
Canola price likely unaffected by Israel-Iran tension
SASKATOON — Canola growers are not likely to be huge beneficiaries of rising crude oil prices caused by mounting tensions in the Middle East, says an analyst. “It’s a supportive factor, but it can’t drive the oilseed sector higher just by itself,” said MarketsFarm analyst Bruce Burnett. Related stories: West Texas Intermediate (WTI) crude oil […] Read more
Dryness delays winter wheat seeding in Russia
Poor soil moisture and limited rainfall mean the crop could enter dormancy in poor shape, resulting in lower yields
SASKATOON — Winter wheat planting is progressing slowly in the world’s largest exporting region. Russian farmers have only managed to seed 20.8 million acres of the crop, which is 11 per cent behind last year and the slowest pace in 11 years, according to SovEcon analyst Andrey Sizov. Related stories: Ukraine’s growers have planted 2.4 […] Read more
