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CBOT December 2023 corn with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets, Weather

CBOT weekly outlook: Poor crop ratings keep soy, corn supported

Major changes not expected in next WASDE

By ,
MarketsFarm — Hot and dry weather conditions cutting into crop ratings for soybeans and corn in the U.S. could see prices for both crops rise above nearby chart resistance levels, although the looming harvest may temper the upside potential. Both soybeans and corn were rated 53 per cent good-to-excellent in the latest weekly crop report […] Read more
CBOT November 2023 soybeans with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets, Reuters, Weather

U.S. grains: Soy futures jump as heat, dryness hurt crop more than expected

USDA rates soy, corn crops least good-to-excellent since 2012

By ,
Chicago | Reuters — Chicago Board of Trade soybean futures jumped on Wednesday after weekly U.S. government data showed crop conditions deteriorated more than expected during hot, dry weather. Reduced crop ratings fuelled expectations among traders that the U.S. Department of Agriculture may cut its yield forecast in a monthly report due next week. USDA […] Read more
Container ships pass through locks on the Panama Canal in this file photo. (CIA.gov)
Crops, Reuters, Weather

Panama Canal water levels at historic lows, restrictions to remain

Lake feeding canal low on rainfall

By ,
Panama City | Reuters — The Panama Canal’s water levels have not recovered enough as the end of the rainy season approaches and limits on daily transit and vessel draft will stay in place for the rest of the year and throughout 2024, the waterway’s authority said on Tuesday. The restrictions, implemented earlier this year […] Read more
Green lentils. (Savany/iStock/Getty Images)
Crops, Markets, Pulses, Weather

Pulse weekly outlook: Poor monsoon rains cut into India production

Canadian crops also expected lower

By ,
MarketsFarm — Disappointing monsoon rains in India this year are expected to cut into the country’s pulse production, according to reports out of the country. Crop production in India is highly dependent on the monsoon rains that typically soak the country from June through September, but the moisture to date was about nine per cent […] Read more
File photo of idled equipment in drought conditions on a farm in New South Wales, Australia. (f.ield_of_vision/iStock/Getty Images)
Crops, Markets, Weather

Australian crop estimates adjusted slightly lower

Crop seen down 34 per cent from last year

By ,
MarketsFarm — Total 2023-24 winter crop production in Australia, at an estimated 45.2 million tonnes, is expected to be 34 per cent off the record highs hit last year but slightly above the June forecast as upward revisions to canola and barley counter a downward revision to the wheat number, according to the latest crop […] Read more
CBOT December 2023 soft red winter wheat with 20-day moving average, MGEX December 2023 hard red spring wheat (yellow line) and K.C. December 2023 hard red winter wheat (orange line). (Barchart)
Crops, Markets, Reuters, Weather

U.S. grains: Wheat up off three-month low as Australian crop declines

U.S. corn, soy crop ratings fall more than expected

By ,
Chicago | Reuters — Chicago Board of Trade wheat futures edged higher on Tuesday, after hitting a three-month low, amid short covering and concerns about dry weather threatening production in export hubs including Australia. Corn futures also rose, while the soybean market eased as traders awaited the start of U.S. harvesting. After the markets closed, […] Read more
Durum plants on Aug. 28, 2023 near Acadia Valley, Alta., about 160 km north of Medicine Hat, stand shorter with fewer kernels than normal due to dry conditions. (Photo courtesy Darold Niwa/Handout via Reuters)
General, Weather

Prairie Forecast: Mostly sunny and warm

Issued Aug. 30, covering Aug. 30 to Sept. 6

By ,
It’s a straightforward forecast for this period as the general weather pattern looks to be pretty quiet. It starts with a large area of high pressure centred over the Great Lakes with a weak area of low pressure over Alberta. The Great Lakes high will put sunny skies and warm temperatures over much of Manitoba […] Read more
(Iggi_Boo/iStock/Getty Images)
Crops, Markets, Pulses, Weather

Pulse weekly outlook: Lentils, peas show large declines in StatCan report

Chickpea, soy production expected up on the year

By ,
MarketsFarm — Statistics Canada (StatCan) showed a mostly tightened outlook for Canadian pulses in its first model-based supply/demand estimates for the 2023-24 marketing year. StatCan on Tuesday released those projections, which largely presented a reduction in yields due to ongoing dry conditions on the Prairies. As of July 31, Canadian dry field pea output was […] Read more
CBOT December 2023 corn with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets, Reuters, Weather

U.S. grains: Corn, soybeans climb as U.S. crop concerns grow

Crop tour forecasts crops below USDA estimates

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Chicago | Reuters — Chicago soybeans and corn climbed on Monday after a U.S. farm survey predicted smaller crop production than government forecasts due to hot, dry conditions across the U.S. Midwest. Wheat dipped on weak demand for U.S. crops, coupled with competition from cheap Russian supplies. Chicago Board of Trade most-active soybeans gained 18 […] Read more
Prairie forecast: unsettled to start then clearing and warmer
Weather

Prairie forecast: unsettled to start then clearing and warmer

Issued Aug. 23, covering Aug. 23 to 30

By ,
Once again, the weather models are in good agreement so confidence in this forecast is fairly high. The only possible issue is that the different weather systems are rather weak which means timing of the systems can change easily. This forecast period starts off with two weak areas of low pressure, one over southern Manitoba, […] Read more

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