June 30 was a big day in 1867: the eve before the birth of this great nation. This year, nearly 150 years later, it marked the end of the trading month, the end of the trading quarter, the final day for Greece to accept new financial austerity measures or make a €1.6 Billion loan payment (they did… Read More
Category: Grain Markets
Drought may have surpassed grain transportation as the number one challenge on the collective mind of Western Canadian grain farmers this year, but the need to address long-term logistical challenges should not be forgotten, says an ag economist from the University of Saskatchewan. “In the current situation it looks like basis levels may return to historically normal levels, however if… Read More
Grain and oilseed markets were green across the board on Tuesday after the USDA and Statistics Canada dropped a heavy load of new information into the market. The USDA released updated acreage and stocks estimates while StatsCan shared its acreage projections based on a farmer survey in early June. New crop soybean futures jumped more… Read More
Grains had a big week in the markets with everything ending in the green thanks to wet weather in the U.S. Midwest, and drier weather in Western Canada and Europe. November canola on the Winnipeg exchange nearly touched $12/bu, winter corn and soybean contracts pushed above $4/bu and $10/bu (respectively) in Chicago, and we’re starting… Read More
Grain prices started falling back this week as moisture finally hit some areas of Western Canada and reported decent conditions of already-planted crops in the Midwest. There are, however, a significant amount of soybean acres that still have not been planted in major states like Missouri, Illinois, and Iowa because of persistent wet conditions. Ultimately,… Read More
Grain prices ended the week lower with rains arriving in some major growing regions. The market’s main focus now is on where rain is falling, and in what quantities, specifically eyeing Kansas, Missouri, Nebraska, & Iowa where a fair amount of acres still have to go in. SovEcon recently raised their expectations for the Russian crop to… Read More
New crop wheat futures fell from recent highs on Wednesday after the USDA published some larger-than-expected wheat supply projections. The USDA’s June reports were not friendly for prices across the board, says Neil Townsend of CWB Market Research in our conversation below. (Read the WASDE report here and the Crop Production estimates here.) Along with slightly larger domestic production, he… Read More
It’s looking like over a million acres of canola will be or has been reseeded in Western Canada this year, with frost in Manitoba to blame for the majority of those acres. “We’re still getting a handle on how much seed actually moved into the affected areas. We know that between what the retail network moved and… Read More
Crop quality was the big question on the mind of the market for this first week of June, as the entire grains and oilseed complex moved higher. Despite seeing the largest one-day drop for the U.S. dollar earlier in the week since 2013 (it rebounded on Friday), weather issues were completely at the steering wheel… Read More
Most grain elevators in Western Canada are going to be asking producers to declare whether they used a plant growth regulator containing chlormequate chloride when delivering this year’s crop. If the answer is yes, they’re going to reserve the right to not accept delivery of the grain. All the companies that are members in the Western Grain Elevator… 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
Wheat futures have dropped sharply this week after spiking earlier this month, as the rising U.S. dollar is once again weighing on American commodities. The currency effect is also being noticed in the oilseed complex, as Canadian canola futures have climbed while soybean values in Chicago have fallen over the last few weeks. As part of this interview, Brian Voth, senior… Read More
Canadian wheat sales into the U.S. have grown since the end of the Canadian Wheat Board monopoly in 2012, but there are still obstacles for American wheat growers interested in marketing their crop north of the border. Under the Canada Grains Act, as it stands right now, U.S. wheat delivered to Canadian elevators automatically receives the lowest grade… Read More
The number of flax acres in Western Canada will likely be up this year, but it’s looking like it might not be as high as many analysts and people in the flax industry were expecting. According to Statistics Canada’s planting intentions report released last month, farmers in Western Canada are planting 1.63 million acres of… Read More
Grain markets pulled back from their hot start to the week with only canola finishing in the green, its July contract climbing to close the week at $463.20/metric tonne, thanks to a stronger U.S. dollar. Wheat and corn prices did have a hot start to the week because of concerns of sub-zero temperatures and a depreciating… Read More