Statistics Canada released its updated acreage estimates for 2021 on Tuesday morning, most of which were in line with expectations. Most notably, StatsCan boosted its canola acreage estimate to 22.48 million acres, up from 21.53 million in its April acreage report. Year-over-year, that's an 8.2 per cent increase in canola acres, largely driven by strong... Read More
Category: Markets
A recent U.S. federal reserve meeting resulted in an indication that attention to interest rate movement will be sped up in the future. "There's been a few mixed messages, actually, out of the press conferences that followed that statement of the federal reserve," says JP Gervais, chief economist at Farm Credit Canada. Gervais says it... Read More
The surge in canola processing that's been announced for Saskatchewan over the last four months is expected to result in a more than 50 per cent increase in Canada's domestic canola crush capacity, which could have major logistical and trade flow implications for crops grown on the Prairies. A record 10.3 million tonnes of canola... Read More
Richardson Pioneer has formally announced plans to build a new high throughput elevator at Carmichael, Sask, about 65 kilometres west of Swift Current. Construction on the new facility began earlier this month, and is expected to be complete by fall of 2022. The new elevator will include 46,000 metric tonnes of storage capacity, with loop... Read More
On previous episodes of the Beef Market Update, you've heard Anne Wasko of the Gateway Livestock Exchange talk about the cattle hangover that is going on in the fed cattle market. Well, we've got some good news: we are on our way out. Wasko says although the U.S. is getting on its feet too, the... Read More
This month's World Agricultural Supply and Demand Estimate (WASDE) didn't contain any huge shocks, with soybean stocks ticking up but corn stocks down slightly. The global wheat outlook for 2021/22 is for larger supplies, higher consumption, increased trade, and higher stocks. Supplies are projected to increase 4.3 million tons to 1,087.9 million, mainly on higher... Read More
Several converging factors are putting the squeeze on the cattle value chain and industry dynamics, and the recent cyber attack on JBS has added another layer of disruption to an already stressed system. JBS announced the hacking, possibly Russian in origin, earlier this week. The cyber attack meant the company ceased slaughter in several plants,... Read More
A Tuesday morning run up in the grain markets caught many market watchers by surprise. What's at play so early in the growing season? Jon Driedger with Leftfield Commodity Research says that, yes, this really does seem to be a weather related rally for the most part, and that's a bit of a surprise. Coming... Read More
The disconnect between the cutout value and the fed cattle cash market has continued to frustrate producers in Canada and the U.S. South of the border, the temperature is rising for politicians to grasp some political will, while in Canada the volume has been much quieter on the matter. With the choice cutout reaching US$330... Read More
It's been another steady week for cash cattle trade in both the U.S. and Canada. Anne Wasko of the Gateway Livestock Exchange says that in the U.S., trade has been at $118-$119, and around $187-$191 dressed, while the storyline from previous weeks for cutout values continues. "Choice closed last night at $330 USD, which is... Read More