As winter conditions descended on Alberta, prices for feed grains bumped up a little, but were otherwise "percolating sideways," stated Jim Beusekom of Market Place Commodities in Lethbridge.
The International Grains Council (IGC) said on Thursday it has trimmed its forecast for 2024/25 global wheat production driven partly by a diminished outlook for the European Union.
As the likelihood of tariffs loom over United States soybean, corn and wheat exports, that trio of commodities has been facing their share of pros and cons, said analyst Tom Lilja of Progressive Ag in Fargo, N.D.
There were only small changes to the updated supply/demand estimates from Agriculture and Agri-Food Canada (AAFC) released Nov. 19. All of the other data in the AAFC report were carried over from its October report.
There were a few tweaks to the latest monthly report from the United States Department of Agriculture released on Nov. 8. The World Agricultural Supply and Demand Estimates not only lowered yields for U.S. corn and soybeans, the department reduced the ending stocks for both.
Spring wheat cash prices were mixed for the week ended Oct. 31, as pressure from declines in United States wheat futures were countered by support from a weaker Canadian dollar that encourages more export sales.
As wheat production in Argentina is projected to increase in 2024/25, according to the United States Department of Agriculture attaché in Buenos Aires, the country’s corn output is to be smaller than in the previous year.
Harvest operations in Alberta are virtually complete for 2024, the province’s crop report said. Combining advanced three points to 99 per cent finished as of Oct. 22 as well as being three points above the five-year average.