World wheat inventories have fallen from record highs five years ago, U.S. data shows, as poor weather hurt output and Russia's 2022 invasion of Ukraine temporarily spiked grain prices.
Combining in Manitoba advanced 12 points at 85 per cent complete for the week ended Oct. 7. While some crops made great amounts of progress, others did not. The largest gains were made in the province's soybean and flax harvests as they are up 41 points apiece at 70 and 61 per cent finished respectively.
Harvest progress in Alberta reached 85 per cent complete as of Oct. 1, progressing 11 points on the week, according to the latest provincial crop report.
Hard red spring wheat bids in Western Canada moved lower during the week ended Sept. 19, as losses in the United States futures and seasonal harvest pressure weighed on values.
The harvest in Saskatchewan advanced 13 points for the week ended Sept. 16, at 74 per cent complete, despite rain in some parts of the province. The pace of combining was eight points behind this time last year, but 11 ahead of the five-year average.
Hot and dry weather saw crop conditions decline across much of Western Canada over the past month, with the latest model-based production estimates from Statistics Canada showing downward revisions in both canola and wheat production from the August report.
Cash prices for Canada Prairie Red Spring Wheat and Canadian Western Amber Durum were up for the week ended Sept. 12, while those for Canadian Western Red Spring Wheat were mostly higher.
Saskatchewan’s harvest was more than halfway finished at 61 per cent complete, although not as much as the 68 per cent complete from one year ago. The figure was higher than the 42 per cent reported last week, the five-year average of 50 per cent and the 10-year average of 46 per cent. The southwest region was the nearest to completion at 85 per cent while the northeast region’s harvest was only at 34 per cent.
Average prices for the majority of crops grown in the Prairies were lower this July compared to the year before, while cattle prices continued to rise, according to Statistics Canada's (StatCan) monthly farm product prices released on Sept. 10.