Crude oil shipments by rail in Canada are at record highs and forecast to continue climbing, as oil production has increased with no major expansion in export pipeline capacity. At the same time, executives for Canada’s two major railways say they intend to maintain rail capacity for grain. 198,788 barrels of oil per day were… Read More
The last time gasoline prices across Canada were where they are today, averaging around $1.33/litre, was in July 2014, when the price of oil was around US$100 a barrel. Oil prices have been trending higher since last summer, but are still $30 below where they were in July 2014. So why are fuel prices so… Read More
As farmers hit the field and the tractors start to roll, diesel prices are on the minds of farmers. The biggest driver of diesel prices is the price of oil, and it has been on a real run upwards in the last 52 weeks. In the last 52 weeks, crude oil is up 39 percent… Read More
Last week TransCanada Corp announced its withdrawal from the 1.1 million barrel per day Energy East pipeline project in Canada. The cancellation of this $15.7 billion project has created much unrest or satisfaction depending where you live in Canada. The pipeline’s concept was to take oil east for domestic use and exports abroad. The pipeline… Read More
The markets continued their strong bearish tone as grains and oilseeds pushed lower across the board for the second day in a row on Tuesday. On Monday, one excuse was that Friday’s bearish cattle on feed report sparked a push to sell. Expected rains in the U.S. midwest later this week have certainly driven some… Read More
In Canada we do not talk about biofuel production like they do in the United States. I attend many farmer meetings across the country and rarely do I hear talk on the agenda or in the hallways about ethanol or biodiesel production in Canada. In the U.S. ethanol production is a major user of the… Read More
November is always a very interesting time for the markets. Analysts begin to have an idea of the crop volume and quality and farmers and looking to solidify their new crop marketing plans and are already beginning to think about planting intentions for the coming spring. Farmers also have to increasingly pay attention to the… Read More
Anti-trade messages from both U.S. presidential candidates are undoubtedly troubling for the future of the Canadian economy, especially in export-oriented sectors like agriculture. “That to me would be the number one concern when we look over the next six months — what happens in the U.S. election and what happens afterwards,” said Douglas Porter, chief economist… Read More
The Canadian dollar could be settling in for some quieter time after a wild ride over the last year. In May 2015, the loonie traded at over 83 cents US. It then went for a slide, bottoming out in mid-January at around 68 cents before rallying aggressively, touching 80 cents in early May. The dollar has since retreated down to around… Read More
A lot of focus in the market last week was on the wheat market as warm weather from Kiev to Kansas is pushing fall-seeded crops out of dormancy much earlier than usual. After last week’s best weekly gain for wheat since October, investors’ focus will now turn to weather forecasts and the stocks and acreage… Read More
The winds of change have blown through Canada. No longer is Alberta on top of the Canadian economic machine. Ontario is no longer the manufacturing super power. The word ‘Conservative’ cannot be found in the name of any governing provincial party and no one is joking about the attitude of Saskatchewan. “Excellence is not a… Read More
We’re talking about everything from the state of the US and Canadian economies to SaskCanola’s effort to share how many farmers view modern ag technology through the “License to Farm” film. After spending most of the week at Ag Days in Brandon, Kelvin Heppner host of this week’s news podcast and is joined by a… Read More
Agriculture is poised to play a much larger role in the Canadian economy thanks to impacts of climate change and declining revenues from oil extraction, says well-known author and economist Jeff Rubin. “Climate change has fatal implications for our previous ambitions of becoming an energy superpower, but it’s going to make other assets and resources in… Read More
Grains saw a choppy end to the trading month of May as government reports seemed to sway the market the most. Corn and wheat prices on the futures board saw their values fall as USDA crop progress reports reminded everyone that a lot of corn is already in the ground and that wheat crops in… Read More
Grain prices ended the month of February a little mixed as corn, soybean, and canola prices all got support in the last half of the month through harvest and logistical concerns out of South American. Lower oil prices have helped keep gains in check for those crops related to the biofuels industry, although strong domestic… Read More