The current commodity markets are a key economic indicator, and as many are well aware, in the commodity world the key indicator is crude oil. Where crude goes, so does the rest of the commodities, says Errol Anderson, president of ProMarket Communications Inc., based at Calgary, Alta. As things look according to Anderson, there’s a… Read More
Category: Grain Markets
Concerns about drought stress in the U.S. wheat growing area may have bumped the slumping wheat market higher for a day or two, but farmers deciding when to sell both old and new crop need to look at the bigger picture, including the overall economic slowdown, global crop production, and higher interest rates, says the… Read More
The Black Sea grain deal that allows Ukrainian grain exports to continue has been extended by two months, a day before the agreement with Russia was set to expire. Turkey’s President Tayyip Erdogan announced Russia had agreed to the extension early Wednesday, sending grain futures markets lower as the second consecutive 60-day extension allayed concerns… Read More
If you look at the commodity markets as of Tuesday, it’s a bit of a mixed bag, but for the most part — there’s no green on the screen. Jim McCormick of AgMarket.Net joined RealAg Radio host Shaun Haney to discuss what is going on, and where this uncertainty is coming from. As you can… Read More
It’s a busy time of year for just about everyone — the crop is getting in the ground, calves (and lambs) are hitting the ground, and there are never enough hours in a day to get all the things done. Making sales of new-crop product, whether that’s grain or calves, is perhaps not top of… Read More
The expulsion from Canada of a Chinese diplomat earlier this week could wreak havoc on grain exports… or not. What could happen with exports is concerning, yes, but there are much more concrete factors set to shape markets in the short term, says one analyst. Ranulf Glanville with GrainFox says getting a better handle on… Read More
Wheat. A mainstay of crop rotations globally and a huge part of the Canadian export market, wheat has not had a great run the last few weeks. To unpack all that’s going on with this market, we go to Brian Voth, founder of Intellifarm Inc., based at Manitoba. First, Voth says we need to check… Read More
Statistics Canada is reviewing the timing of its traditional April seeding intentions report, after making a major change to the way it compiled data for the report this year. The seeding intentions report for 2023, released last week, was based on a farmer survey conducted from December 12, 2022, to January 14, 2023. Historically, the… Read More
Statistics Canada (StatsCan) says wheat acres across Canada will be the highest they’ve been in more than twenty years, while area planted to canola, corn, barley, and soybeans will also climb in 2023. However there’s an asterisk beside those numbers, as the agency also announced a major change to the methodology behind its seeding intentions… Read More
The Canadian Grain Commission (CGC) has modified some of its procedures for inspecting grain as it’s loaded onto ships on the West Coast, as 65 per cent of the CGC’s employees, including grain inspectors, are participating in the Public Service Alliance of Canada (PSAC) strike. “Inspection staff that are not in a strike position are… Read More
Canadian farmers feel relatively stable and positive about their farms’ current financial outlook, even in the face of declining commodity markets, according to the March Canadian Farmer Sentiment Index. Last month, the RealAgristudies Insights Panel was surveyed a fourth time since September 2022 on their opinions and overall sentiment on a number of critical agricultural… Read More
Even though many are looking at the futures market for ’23 new crop prices, and there’s a little more positivity across drought areas in terms of upcoming precipitation, “what’s going in the mouths of cattle today is still old crop.” So, as a result, we’re going to have to wait until the back half of… Read More
Update, as of April 17: The Public Service Alliance of Canada announced a strike deadline on Monday morning. The union says more than 155,000 PSAC members, which includes staff with Agriculture and Agri-Food Canada and the Canadian Grain Commission, will begin strike action on Wednesday, April 19 if a deal cannot be reached by 9… Read More
The spring wheat market is no exception when it comes to how up in the air the commodity markets have been. Especially when you look at all the intended acres that are planned for the U.S. Chip Flory, of Agritalk, says a main reason for keeping eyes on the spring wheat market, is the terrible… Read More
After decades of debate among farmers and politicians, it took less than 15 months for the machinery of the federal government to dismantle — some might describe it as steamroll — the Canadian Wheat Board’s single desk following the Conservative majority in the 2011 federal election. The behind-the-scenes of how former federal Agriculture Minister Gerry… Read More