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 moreTag Archives MarketsFarm
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
Big durum crop likely to close door on price rally
Production in the major exporting nations will be around 22.7 million tonnes, or three million tonnes more than last year
SASKATOON — Durum prices are unlikely to rally despite strong demand for the product, say a couple of grain industry observers. “It’s going to be a grind in the durum market,” said MarketsFarm analyst Bruce Burnett. Related stories: Canada’s big crop is weighing down the market. Farmers produced an estimated 6.03 million tonnes of durum […] Read more
New flour mills planned as population surges
P&H says increased demand behind plans to build wheat milling facility in Alberta and expand an existing mill in Ontario
SASKATOON — A major Canadian grain company is building two new wheat flour mills in response to rising domestic consumption of the product. “We’re seeing the demand pinch and so we knew we had to expand,” said Mike Warkentin, director of special projects and stakeholder relations with P&H Milling Group, a division of Parrish & […] Read more
Ukraine’s harvest estimate bigger than expected
War-torn country's farmers are now expected to produce 19.8 million tonnes of wheat and 4.95 million tonnes of barley
SASKATOON — Ukraine’s wheat and barley production is bigger than earlier anticipated. In July, the Ukrainian Grain Association (UGA) issued a forecast calling for 71.8 million tonnes of total grain, oilseed and pulse production in 2024-25. Related stories: That would be a huge drop from the 82.8 million tonnes harvested last year. That forecast included […] Read more
Where will China buy canola?
SASKATOON — China’s canola crushers could face significant hardships if the country slaps tariffs on Canadian exports, say analysts. MarketsFarm analyst Mike Jubinville wonders where the Asian giant will get the canola it needs to fuel its vast crush sector. Related stories: Australia is the world’s second largest exporter of the commodity behind Canada. However, […] Read more
Cereal quality in trouble
SASKATOON — The quality of Canada’s early-harvested cereal crops is disappointing, according to industry officials and analysts. “The growers that we’re talking to about cereal harvest (mostly barley and durum in Alberta and western Saskatchewan at this point) are saying that yields are average but that quality is not great,” Johnston’s Grain said in the […] Read more
Wealth of chickpeas will affect export market
SASKATOON — The United States could be sitting on a massive stockpile of kabuli chickpeas by the end of the 2024-25 crop year, says an analyst. Farmers in that country planted 529,900 acres of chickpeas, a 42 percent increase over the previous year, according to the USDA’s Farm Service Agency. Related stories: The breakdown by […] Read more
VIDEO: Decent crop can create its own marketing challenges
Many western Canadian farmers are facing a marketing problem they haven’t had to think much about for the past five years. They, and many of their neighbours, will probably have a good crop to sell into a glutted market. No matter who you spoke with at Ag in Motion, farmers reported having or seeing great […] Read more
