When it comes to making heads or tails on tariff trouble in India, Chuck Penner, with Leftfield Commodities, says that while the news isn’t good, it’s not all bleak. The tariffs and restrictions are set to continue long into harvest, Penner explains, as he breaks down each class and tariff level by crop type (and… Read more »
Tag: Chuck Penner
RealAg Radio, July 24: Pea prices, spotty soybeans, and being sheepish
Stand-in host Lyndsey Smith somehow manages to slide in not one, but two (!) sheep stories into this Tuesday edition of RealAg Radio. Top news stories include: the major lamb supply merger in the west, a freeze on CAP funding in Ontario, and a self-serve, farm-fresh dairy option in Saskatchewan. Also in this edition: We… Read more »
Agriculture commodities caught in China-U.S. tit-for-tat tariff threats
When you feel that you have nothing to lose, you are at your most dangerous. With China proposing steep tariffs on U.S. pork, soybeans, cotton, tobacco, frozen orange juice, and corn, the market is trying to determine the probability this all comes to fruition as the bluster heats up. When you’re already $500 Billion DOWN,… Read more »
Mustard acres expected to climb by 40 percent
In a winter where most crop markets don’t appear to be trying to buy more acres, mustard prices have been an exception. “For farmers looking for profitable opportunities, mustard is sticking out like a sore thumb right now,” says Chuck Penner of LeftField Commodity Research in the video below, filmed at CropSphere in Saskatoon earlier… Read more »
Pulse School: What do India’s tariffs mean for pulse markets in 2018?
India’s move to impose prohibitive import tariffs on peas, lentils and chickpeas has left a cloud of uncertainty hanging over the pulse market heading into the 2018 growing season. After back-to-back bumper crops domestically, India implemented a 50 percent tariff on pea imports in November, followed by a 30 percent tariff imposed on lentils and… Read more »
Another blow for pulse crop demand, as India slaps 30 percent tariff on lentils and chickpeas
India has added two more pulses to the list of crops facing steep import tariffs into the country. The Indian government announced a 30 percent import duty on red lentils and chickpeas on Thursday, which takes effect immediately. It’s expected product already on its way to India will be subject to the duties upon arrival. “Production… Read more »
Is this a seasonal slump or something bigger?
Grain markets almost always take a dive as harvest approaches and new supplies hit the market, but the big question for marketing is — will prices rebound or stay at lower levels? “I’ve been doing this for quite a few years and every year I kind of get sucked in a little by it, and… Read more »
India Pulse Export Scare More Smoke Than Fire: Chuck Penner
Concerns that India would no longer accept Canadian peas and lentils due to changes to fumigation requirements on incoming shipments were overblown, says the president of LeftField Commodity Research. India issued a three month extension last week, allowing sales to Canada’s largest pulse export market to continue. “In the end it turns out there was a lot more smoke… Read more »
Ugly Experience in ’16 Muddying Acreage Forecasts for ’17 — FarmTech Market Panel
Bad experiences with high disease levels in last year’s crop are making acreage projections for Western Canada in 2017 a tad more complicated than normal. “This year has been a lot more guess work. We have things we’re just not sure about because the price signals on durum are actually looking pretty favourable, the price… Read more »
Oat Prices Rally On Harvest Problems
Oat prices have rallied over the last three weeks due to the poor harvest conditions in Western Canada. The December futures contract in Chicago has climbed more than 20 percent since the start of the month — from US$1.76/bu to around $2.15/bu. “Earlier it looked like we were going to have plenty of oats out there,” says Chuck Penner… Read more »
Pulse School: How High Will Pea Acres Go in ’16?
Pea prices in Western Canada are at record levels and showing no signs of weakness, largely due to the pulse crop shortage in India. Old crop yellow peas are fetching spot bids over $11/bu while contracts for 2016 are in the $9.50 to $10/bu range (most with Act of God clauses). “At this stage of… Read more »
Pulse School: Record Lentil Acres Expected with Spike in Prices
These are exciting times for lentil growers, with record Canadian lentil acres projected for 2016. Red lentil bids in Western Canada have spiked into the C$0.50/lb range due to a combination of poor growing conditions in India and the lower value of the Canadian dollar relative to U.S. currency. “There’s no question we’re going to have acres… Read more »
A Few More Flax Acres Expected for ’15
Strong new crop prices for flax are expected to drive acres higher again in 2015. “The economics of flax currently make a lot of sense. There are a number of new crop bids in the $12.50 (per bushel) range. Compared to other crops that’s quite profitable, and compared to history that’s quite profitable, so I… Read more »
Are Wheat Markets Poised for a Rebound? — Market Update With Chuck Penner
Despite the tumble in wheat futures over the last month, there are still reasons for growers to be optimistic about where wheat prices are headed, according to the president of LeftField Commodity Research. Chuck Penner shares his take on what’s happening in the grain markets in this video filmed at FarmTech in Edmonton. “I’m friendliest… Read more »
Canola Gains Relative Value & USDA Cuts Soybean Stocks — Oilseed Market Update with Chuck Penner
After trading at a significant discount to soybeans last year, contrasting production scenarios have resulted in canola gaining value relative to soybeans over the last few months. “Historically canola futures have traded $80, sometimes even $100 higher than soybeans. Last year was exactly the opposite,” explains Chuck Penner of LeftField Commodity Research. “What we’re starting… Read more »