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Green lentils. (Savany/iStock/Getty Images)

Pulse weekly outlook: Markets steady heading into holidays

By Phil Franz-Warkentin, GFM Network News December 17, 2020

MarketsFarm — Pea and lentil markets in Western Canada are holding relatively steady heading into the holiday season, with little movement expected one way or the other until the New Year. “That’s normal for this time of year,” said Dale McManus of Johnston’s Grain at Welwyn, Sask. on the lack of activity and stagnant prices. […] Read more

File photo of Agriculture Minister Marie-Claude Bibeau speaking to media in Winnipeg in March 2019. (Dave Bedard photo)

Crops

Bibeau says government committed to federal plant breeding

Seed royalty consultations stalled

By Allan Dawson, GFM Network News December 17, 2020

The Canadian government is committed to plant breeding, federal Agriculture Minister Marie-Claude Bibeau told members of the Canadian Farm Writers’ Federation on Tuesday. Some farmers and seed industry officials suspect Agriculture and Agri-Food Canada’s (AAFC) variety development work, along with many other programs, will be on the chopping block post-COVID-19 as the government tackles its […] Read more

Crops, Machinery

Bibeau promises help to farmers on rising carbon tax

Funds expected to help farmers cut emissions

By Allan Dawson, GFM Network News December 17, 2020

A steadily rising carbon tax has a lot of Western Canada’s grain farmers wondering how they’ll compete in world markets against competitors not subjected to a similar tax. “I think the world market is also looking towards a greener economy and always more sustainable agriculture,” federal Agriculture Minister Marie-Claude Bibeau said when the question was […] Read more

Detail from the front of the CBOT building in Chicago. (Vito Palmisano/iStock/Getty Images)

Crops, Markets, Soybeans

CBOT weekly outlook: $12 soybeans possible

By Glen Hallick, GFM Network News December 17, 2020

MarketsFarm — There’s a good chance that soybeans on the Chicago Board of Trade (CBOT) could reach US$12 per bushel before the end of December, according to grains analyst Terry Reilly of Futures International in Chicago. “It’s very possible. We’re not too far away from it. We also got close to that point back on […] Read more

ICE January 2021 canola (candlesticks) with 20-day moving average (yellow line) and CBOT January 2021 soyoil (green line). (Barchart)

Canola, Crops, Markets

ICE weekly outlook: Canola holds over $600

By Marlo Glass – MarketsFarm, GFM Network News December 17, 2020

MarketsFarm — ICE Futures canola contracts were stronger Wednesday, hitting multi-year highs for three consecutive days. The nearby January contract closed at $602.90 per tonne on Wednesday, gaining nearly $10 since Friday’s close of $593.60. Ken Ball of PI Financial in Winnipeg said canola is expected to go higher in order to “kill off some […] Read more

CBOT January 2021 soybeans with Bollinger (20,2) bands. (Barchart)

Crops, Markets, Reuters

U.S. grains: Profit-taking pressures soybeans

Corn futures firm, wheat weak

By Mark Weinraub, GFM Network News December 17, 2020

Chicago | Reuters — U.S. soybean futures eased on Wednesday on a profit-taking setback after approaching 4-1/2-year highs, traders said. Corn futures ended firmer on technical buying, while wheat dipped. Concerns about dry conditions limiting crop potential in key corn- and soy-growing areas of South American underpinned the market, with strong demand weighing on global […] Read more

Barley, Crops, Reuters

Australia to appeal at WTO over China’s barley tariffs

China in May imposed tariffs totalling 80.5 per cent

By Colin Packham, GFM Network News December 16, 2020

Sydney | Reuters — Australia will launch a formal appeal to the World Trade Organization (WTO) later on Wednesday seeking a review of China’s decision to impose hefty tariffs on imports of Australian barley, Minister for Trade Simon Birmingham said. Acknowledging the appeal may take years to be resolved, Birmingham told reporters Australia would also […] Read more

Husky Energy’s ethanol plant at Minnedosa, Man., about 45 km north of Brandon. (HuskyGrain.com)

Cereals, Crops, Reuters

Husky, Cenovus shareholders approve merger deal

Cenovus to be Western Canada's biggest ethanol, DDGS producer

By GFM Network News December 16, 2020

Reuters — Cenovus Energy’s $6.07 billion deal to buy Husky Energy was approved by the shareholders of the two companies on Tuesday, creating Canada’s No. 3 oil and gas producer in a rapidly consolidating industry. Cenovus said 93 per cent of shareholder votes were cast in favour of the merger at a special meeting, while […] Read more

CBOT January 2021 soybeans with 20-, 50- and 100-day moving averages. (Barchart)

Crops, Markets, Reuters

U.S. grains: Bullish crush data sparks rally in soybeans

CBOT corn, wheat futures firm

By Mark Weinraub, GFM Network News December 16, 2020

Chicago | Reuters — U.S. soybean futures rallied on Tuesday, supported by a report showing processors were busier than expected during November, adding further pressure to a tight supply base, traders said. The strength in soybeans pulled corn higher, which closed in positive territory after trading lower for much of the session. Wheat futures also […] Read more

Crops, Markets, Reuters

U.S. grains: Wheat slides on Russian export tax details

CBOT soybean, corn futures firm

By Mark Weinraub, GFM Network News December 15, 2020

Chicago | Reuters — U.S. wheat futures dropped 2.9 per cent on Monday, their biggest daily sell-off in two weeks, with traders saying that Russia’s export tax plan was bearish for prices in the short term. Soybean futures were firm, supported by a rising forecast for imports by top global producer Brazil, while corn edged […] Read more

Daily Network News

U.S. livestock: Cattle rebound on technical buying

U.S. grains: Soybeans fall as rapid harvest overshadows China trade hopes

Good weather pushes Alberta harvest along

Crops

Pulse weekly outlook: Markets steady heading into holidays

Bibeau says government committed to federal plant breeding

Bibeau promises help to farmers on rising carbon tax

CBOT weekly outlook: $12 soybeans possible

ICE weekly outlook: Canola holds over $600

U.S. grains: Profit-taking pressures soybeans

Australia to appeal at WTO over China’s barley tariffs

Husky, Cenovus shareholders approve merger deal

U.S. grains: Bullish crush data sparks rally in soybeans

U.S. grains: Wheat slides on Russian export tax details

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