MarketsFarm — Although canola prices have been somewhat erratic over the last weeks, they along with other oilseeds have generally rebounded, according to trader Ken Ball of PI Financial in Winnipeg. Ball commented there has been a good amount of short-covering in soyoil at the Chicago Board of Trade, as markets positioned themselves for an […] Read more
ICE weekly outlook: Canola will follow soyoil up or down
Prairie weather another guiding factor
Bison industry expanding, becoming mainstream
Bison meat emerging from 'seasonal' perception
MarketsFarm — The Canadian bison industry has been through some difficult times during the last few years but is now emerging from those doldrums, according to Manitoba Bison Association president Robert Johnson. “Between the two drought years and the COVID-19 pandemic, then high feed prices, probably the last two years have been pretty crappy for […] Read more
CBOT weekly outlook: Ending stocks of corn, soy predicted to rise
Ending stocks of wheat projected to drop as drought hits Kansas winter wheat
MarketsFarm — Ahead of supply and demand estimates from the U.S. Department of Agriculture due out Friday, analyst Tom Lilja of Progressive Ag in Fargo, N.D. predicted increases in 2023-24 ending stocks for U.S. corn and soybeans and decline for wheat. The average trade guess for wheat going into this month’s report was approximately 570 […] Read more
Extent of Saudi oil production cut unclear
Reported tensions within OPEC limit price gains
MarketsFarm — At the OPEC+ meeting Sunday in Vienna, Saudi Arabia announced it will cut its oil production by one million barrels per day (BPD) come July. And while that move was bullish for the markets, by how much remains to be seen, said Phil Flynn of the Price Futures Group in Chicago. “It’s probably […] Read more
Rain needed for soybeans, other southern Manitoba crops
Seeded soybeans projected to be up more than 40 million acres from 2022
MarketsFarm – When Toban Dyck started to plant his 600-plus acres of soybeans this year, the soil in the Winkler, Man. area had pretty decent moisture content. But following the combination of hot temperatures and strong winds with little rainfall in May, precipitation is now much needed. “There’s still a little bit of moisture there. […] Read more
Insects posing problems in Saskatchewan crops
Grasshopper, flea beetle damage already reported
MarketsFarm – Although it’s still early in the growing season, some insect pests have already posed a threat to crops in Saskatchewan or could do so in the near future, according to James Tansey, provincial specialist for insects/invertebrate pest management. Among the pests he cited were grasshoppers, flea beetles and pea leaf weevils. Tansey said […] Read more
Feed weekly outlook: Weather market will determine grain prices
Old-crop pricing is starting to come down
MarketsFarm – To Glen Loyns of JGL Commodities at Moose Jaw, Sask., feed grains on the Canadian Prairies are in a weather market, with prices for barley, wheat and corn quite able to go either way. “If it rains it’s going to be weak. If it’s dry it’s going to be higher. A pretty tough […] Read more
A hot, dry Prairie June ahead
El Nino pattern could arrive
MarketsFarm — June is expected to see a continuation of the hot and dry weather most of the Canadian Prairies has experienced in May, according to Scott Kehler, chief scientist for Weatherlogics. “It looks like late spring/early summer is pretty hot across almost all of Western Canada. The Prairies are all above normal [temperature-wise],” Kehler […] Read more
Pulse weekly outlook: Manitoba crops get good start but need rain
Some bean growers seek moisture at lower planting depths
MarketsFarm — Pulse growers in Manitoba are waiting for one thing: rain. So far in May, growing areas of the province have not seen any significant precipitation, according to Dennis Lange, industry development specialist for pulse crops with Manitoba Agriculture. Dry beans, he said, are the last pulse crop farmers have been planting in Manitoba […] Read more
ICE weekly outlook: Don’t bank on $700 canola, analyst suggests
Fresh bullish news not yet in view
MarketsFarm — New-crop canola prices on ICE Futures seemed to be destined to remain well below $700 per tonne, according to analyst Errol Anderson of ProMarket Communications in Calgary. “The market tends to be back where it came from,” Anderson said, stressing that chances of canola pushing higher requires fresh bullish news. “It’s got to […] Read more
Canadian Cattlemen Presents: Depth of Field
