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Vessels are seen as they await inspection under the Black Sea Grain Initiative, brokered by the UN and Turkey, in the southern anchorage of the Bosphorus at Istanbul on Dec. 11, 2022. (File photo: Reuters/Yoruk Isik)
Crops, Markets, Reuters

Russia rejects bank compromise as Black Sea grain deal expiry looms

Collapse of deal could aggravate global food crisis

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Reuters — Russia on Tuesday restated a demand for its state agricultural bank to be reconnected to the global SWIFT payments system to avert the collapse of the Black Sea grain deal, and said it would not accept a reported compromise proposal. With 13 days remaining until the expiry of the deal, which has allowed […] Read more
Forecast probability of temperatures above, below and/or near normal for the period from July through September 2023, based on three equiprobable categories from 1991-2020 climatology. (Weather.gc.ca)
Crops, Weather

Dry, hot Canadian summer expected

Normal precip expected for Ontario, Quebec

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MarketsFarm — Warmer-than-normal temperatures are expected across all of Canada for the next three months, with average precipitation in most of the agricultural areas of the Prairies. That’s according to the latest long-range seasonal forecast from Environment Canada, released Friday. The government department calls for a 50-70 per cent chance of above-normal temperatures from July […] Read more
(iStock photo)
Crops, Markets, Pulses

Pulse weekly outlook: More U.S. peas, chickpeas expected in 2023

On the other hand, fewer lentils and beans

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MarketsFarm — It was a mixed bag for forecasted seeded pulse acres in the United States, according to the U.S. Department of Agriculture (USDA). USDA released its acreage report on Friday, with data provided by respondents between May 30 and June 15. The report came two days after Statistics Canada (StatCan) released its June acreage […] Read more
File photo of a potato field in Alberta’s Lacombe County. (COrthner/iStock/Getty Images)
Crops, Potatoes

Alberta potatoes chip in $2.9 billion for Canadian economy

New report verifies what many in industry suspected

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Alberta’s potato industry is making a big impact — not just on that province but the entire country. A new report — dubbed a “landmark study” by the Potato Growers of Alberta — revealed the sector drove a total contribution of $2.87 billion to Canada’s economy in 2022. It also notes the nationwide creation of […] Read more
Liberia-flagged bulker K Sukret, carrying grain under the Black Sea Grain Initiative, waits for inspection in the southern anchorage of Istanbul on May 17, 2023. (Photo: Reuters/Mehmet Emin Caliskan)
Crops, Markets, Reuters

EU seen weighing concession to Russian bank over Black Sea deal

New arm of ag bank could connect to SWIFT

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Reuters — The European Union is considering a proposal for the Russian Agricultural Bank to set up a subsidiary to reconnect to the global financial network as a sop to Moscow, the Financial Times said on Monday. With the bank under sanctions, the move aims to safeguard the Black Sea grain deal that allows Ukraine […] Read more
CBOT November 2023 soybeans with Bollinger (20,2) bands. (Barchart)
Crops, Markets, Reuters

U.S. grains: Soybeans rally on supply worries

Plantings weigh on corn; CBOT wheat also falls

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Chicago | Reuters — Chicago Board of Trade (CBOT) soybean futures on Monday rallied for a second consecutive session, following a shockingly low plantings estimate from the U.S. Department of Agriculture (USDA) on Friday. Corn futures eased at the start of this holiday-shortened week, remaining at a 2-1/2 year low, on choppy technical trading, traders […] Read more
CBOT November 2023 soybeans with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets, Reuters

U.S. grains: Soy soars after USDA slashes plantings estimate

CBOT corn dives, wheat follows; soyoil runs limit-up

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Chicago | Reuters — U.S. soybean futures surged about six per cent on Friday after the U.S. Department of Agriculture (USDA) reported much lower-than-expected 2023 soy plantings and June 1 inventories, while corn futures tumbled on larger-than-expected acreage. Wheat futures fell in sympathy with corn, despite a smaller-than-expected quarterly wheat stocks figure. On the Chicago […] Read more
MGEX September 2023 hard red spring wheat with 20-day moving average and K.C. September 2023 hard red winter wheat (orange line). (Barchart)
Crops, Markets, Spring Wheat, Winter Wheat

Prairie cash wheat: Canadian bids drop with U.S. futures

Canadian dollar also down on week

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MarketsFarm — Spring wheat bids in Western Canada dropped sharply during the week ended Thursday, as a selloff in U.S. futures weighed on values. Average Canada Western Red Spring (CWRS, 13.5 per cent protein) wheat prices were down by $23.50-$25.40 per tonne across the Prairies, according to price quotes from a cross-section of delivery points […] Read more
File photo of the facade of the U.S. Department of Agriculture building in Washington, D.C. (Camrocker/iStock/Getty Images)
Crops, Markets

U.S. farmers plant more corn, less soybeans in 2023

Total U.S. wheat acres estimated up about 8.5 per cent

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MarketsFarm — Farmers in the United States seeded more corn and less soybeans than earlier intentions in 2023, according to updated acreage data Friday from the U.S. Department of Agriculture. Total corn plantings in the country were estimated by USDA at 94.1 million acres, which was a million acres above the top end of trade […] Read more
(CanopyGrowth.com)
Crops, Markets, Reuters

Canopy Growth sheds California facility amid liquidity worries

Cannabis producer aims to rein in costs

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Reuters — Canadian pot producer Canopy Growth said on Thursday it has completed the sale of its facility at Modesto, California as part of its divestitures to raise funding amid liquidity concerns. The sale, the fifth such deal since April 1, is part of Canopy’s ongoing efforts to improve liquidity by reining in costs through […] Read more

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