Crude oil prices are bouncing back as worries mount about a potential Middle East regional war with fighting escalating between Israel and Hezbollah in Lebanon. | File photo

Prices of crops, oil bounce back from late summer lows

Weather issues and international tensions are lifting prices of several commodities off lows hit in late August and early September. Wheat production estimates and forecasts are down because of weather challenges in Russia, Argentina and elsewhere, helping to lift wheat futures. Crude oil prices are bouncing back as worries mount about a potential Middle East […] Read more


Australian wheat production is expected to be 25.8 million tonnes for the 2024-25 marketing year, slightly below the 26 million produced the previous year and three per cent lower than the 10-year average. | Reuters/ Jonathan Barrett photo

Australian cereals production expected to fall

Lack of rain in the states of Western Australia and South Australia may see harvests fall below the 10-year average

Glacier FarmMedia – WINNIPEG — Dry conditions in Western and South Australia may cause declines in the upcoming Australian wheat and barley crops, according to the U.S. Department of Agriculture’s attaché in Canberra. In a USDA Global Agricultural Information Network report released April 29, the attaché forecasted wheat production at 25.8 million tonnes for the […] Read more

Global wheat consumption is forecast at 804 million tonnes in 2023-24, an increase of nine million tonnes over last year. Meanwhile, production is estimated to have fallen to 787 million tonnes, a seven million tonne decline. | File photo

World-wheat stocks to fall

SASKATOON — A lot of ink has been spilled about wheat production this year but not much has been written about the other side of the ledger. Global wheat consumption is forecast at 804 million tonnes in 2023-24, an increase of nine million tonnes over last year. Meanwhile, production is estimated to have fallen to […] Read more


Agriculture Canada estimates 3.24 million tonnes of wheat and durum stocks as of Aug. 1, which would break the previous record low of 3.66 million tonnes set in the drought year of 2021-22.  |  File photo

Wheat tumbles despite tight stocks

An analyst thinks Russia’s strong export program is behind spring wheat’s recent 15 percent price decline at Minneapolis

Canada entered the 2023-24 crop year with the lowest combined wheat and durum stocks in history. Agriculture Canada estimates there were 3.24 million tonnes of both crops on hand as of Aug. 1, 2023. That would break the previous record low of 3.66 million tonnes set in 2021-22 following a severe drought. Analysts are also […] Read more