There’s a lot of moving pieces going on in agriculture right now, and one of those pieces is the international crop. Just because we are talking international, doesn’t mean the crop doesn’t face one of the number one issues ours does domestically — the weather. As a function of La Niña conditions lingering, Australia has… Read More
Category: Grain Markets
On October 26th, the Bank of Canada announced a 50 basis point interest rate hike — marking the sixth raise of the calendar year. Brennan Turner, grain market analyst and founder of Combyne Ag, says because we’re in an environment of high inflation, we’re going to see a few more of these increases over the… Read More
The cure for high prices is high prices, but the world has to eat. Depending on which adage you subscribe to right now, the global grain markets are either bucking the trend or proving the point. Neil Townsend, senior market analyst with FarmLink Marketing Solutions and GrainFox, agrees that the current commodity price strength is… Read More
The U.S. Department of Agriculture released its WASDE report for October on Wednesday, and soybeans definitely received the bulk of the market reaction. Although corn and wheat yield projections were relatively in-line with analyst expectations, it was the soybean yield that made the market go…hmm. Arlan Suderman, of StoneX tweeted, “USDA pegged the #soybean yield… Read More
Viterra has officially completed its acquisition of Nebraska-based Gavilon, giving the grain company with roots in Canada a much larger footprint in the U.S. As part of the stock purchase agreement, which was announced in January and closed on October 3, Viterra is paying Japan-based Marubeni US$1.125 billion, plus working capital and other adjustments, for… Read More
The percentage of hopper cars ordered by grain elevators in Western Canada that are not showing up on time has started to climb rapidly, according to the latest data from the Ag Transportation Coalition. CP Rail only supplied 61 per cent of the hopper cars that were ordered in week 8 of the grain year,… Read More
Since the middle of August, the corn market has experienced a bit of a holding pattern, with trade sticking mostly sideways. Joe Vaclavik, founder and president of Standard Grain, says a big part of what is playing into this pattern is the uncertainty surrounding the size of the crop in the U.S. “I think there’s… Read More
With harvest well underway, or even finished for some, markets continue to be susceptible to global events, but focus is now turning to what the actual yield numbers are as crops come off. Weighing in on the topic is Brian Voth, president of intetlliFARM, and he says he’s skeptical of the demand that is being… Read More
The U.S. agriculture industry — and economy as a whole — breathed a sigh of relief early Thursday morning when Labour Secretary Marty Walsh tweeted that a tentative agreement had been reached between rail companies and the unions representing railway workers that were threatening to go on strike on Saturday. The Canadian agriculture sector, for… Read More
Oilseed markets moved higher following the release of the USDA’s September crop report on Monday, September 12. U.S. soybean yield was pegged at 50.5 bushels per acre, about a bushel lower than the average pre-report trade guess and down from 51.9 bu/ac in the department’s August report. The number of harvested soybean acres was also… Read More
As the commodity markets continue to hinge on the outcomes of several global factors, the glass-half-full approach is honing in on corn and what looks to be an upswing, as we look at the December charts. Slow and steady may win the corn race with consultants staying optimistic that a rebound is on the horizon…. Read More
Improved growing conditions for much of Western Canada has Statistics Canada predicting a much larger crop for 2022 harvest than was previously reported. The latest principal field crop report, published August 29, is derived from predictive modeling based on July field conditions. StatsCan says the Crop Condition Assessment Program shows that overall plant health in… Read More
Jon Driedger of LeftField Commodity Research recently took a tour across Western Canada with LeftField Commodity Research and Argus Media to analyze the yield potential of the Prairie crop. Like any year, there are extremely variable pockets, but Driedger says for the most part, yields are looking average. The summary for cereals — with the exception… Read More
The U.S. Department of Agriculture (USDA) published its August World Agricultural Supply and Demand Estimates (WASDE) report on Friday. Looking globally, the USDA’s projected lower world ending stocks for wheat and corn, while soybeans saw an increase of 1.8 mmt. Of note, soybean production for China was increased on higher area cited in recent provincial… Read More
CN Rail is preparing for more eastbound shipments of grain and other commodities from Western Canada. As part of its federally-mandated plan for moving grain in 2022-23, the railway says it’s not only anticipating a much larger crop in Western Canada after last year’s drought, but it’s also expecting a re-balancing of trade corridors to… Read More