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Commercial vessels –including vessels which are part of the Black Sea grain deal — wait to pass the Bosphorus strait off the shores of Yenikapi during a misty morning in Istanbul, Turkey on Oct. 31, 2022. (Photo: Reuters/Umit Bektas)
Crops, Reuters

Insurers covering Ukraine grain corridor shipments for now

More clarity needed soon, Lloyd's exec says

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London | Reuters — Insurers continue to cover grain shipments from Ukraine through a United Nations-backed corridor although more clarity will be required soon, a senior Lloyd’s of London official said on Thursday, after the export accord was renewed for at least 60 days. The deal allowing the safe wartime export of Ukrainian grain from […] Read more
CBOT May 2023 corn with Bollinger bands (20,2). (Barchart)
Crops, Markets, Reuters

U.S. grains: Chicago corn, wheat reverse gains to close lower

Export sales of wheat, soybeans fall below forecasts

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Mexico City | Reuters — Chicago corn futures reversed session gains to close lower Thursday, with the most-active contract hitting its highest price since February on a boost from Chinese demand. Wheat futures also closed lower in rangebound trade after earlier gains, pressured by disappointing export data and inter-market spreading against K.C. wheat futures, traders […] Read more
ICE July 2023 canola with 20-, 50- and 100-day moving averages. (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Canola continues its collapse

Limited demand, more farmer selling seen

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MarketsFarm — After losing $62 per tonne the week before, the May contract on the ICE Futures canola market extended its losses for the week ended Wednesday with little relief on the horizon. Winnipeg-based trader Jerry Klassen of Resilient Commodity Analysis said the massive selloff is the result of farmers realizing there wouldn’t be a […] Read more
Louis Dreyfus’ oilseed processing plant at Yorkton, Sask. (LDC.com)
Crops, Reuters

Dreyfus to step up spending after earnings boost

'Complementary' acquisitions envisioned

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Paris | Reuters — Louis Dreyfus Co. (LDC) could nearly double annual investments in the coming years as rising profits help it pursue expansion in its traditional crop trading and newer food-ingredient activities, its CEO told Reuters. The group on Wednesday reported a jump in annual net profit to $1 billion, joining other global crop […] Read more
(Dave Bedard photo)
Crops, Markets

AAFC supply/demand estimates mostly unchanged

Wheat exports up, but domestic usage cut

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MarketsFarm –– Supply/demand estimates for Canadian crops were largely left unchanged in Agriculture and Agri-Food Canada’s (AAFC) latest projections, with only the wheat numbers seeing small adjustments in the report released Tuesday. Projected Canadian wheat exports for the 2022-23 marketing year were raised to 24.3 million tonnes, up by 200,000 from the February estimate. Domestic […] Read more
The minister is on the case: federal Agriculture Minister Marie-Claude Bibeau checks out the cab of a new Case IH Magnum tractor during her visit to the Ag in Motion show on July 20, 2022. (Greg Berg photo)
Crops

Federal report shows farmer concerns remain regarding emissions targets

AAFC report polled farmers, industry for thoughts on fertilizer emissions policy

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A new Agriculture and Agri-food Canada (AAFC) report shows farmers remain concerned about federal emissions reduction targets — and whether those targets remain voluntary. The “What We Heard” Report, released Wednesday, is the result of consultations between AAFC and the agricultural sector to gather feedback on how best to support farmers and producers to achieve […] Read more
The U.S. National Oceanic and Atmospheric Administration’s spring 2023 flood outlook, issued March 16 and covering the spring period through May, calls for risk of “moderate to major” flooding along the Mississippi River from Minneapolis to St. Louis, but also shows “moderate” flood risk along the Red River, which forms the North Dakota-Minnesota state line and flows northward into Lake Winnipeg. (NOAA)
General, Weather

Manitoba’s Red River Valley at major risk for flooding

Province's March flood outlook report cites U.S. storms as reason

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Manitoba has significantly raised the risk of spring flooding in its Red River Valley, follow “recent precipitation events south of the border.” Manitoba Transportation and Infrastructure’s Hydrologic Forecast Centre on Wednesday projected a major risk of flooding on the Red River and low to moderate risk of flooding in most Manitoba basins in its March […] Read more
CBOT May 2023 corn with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets, Reuters

U.S. grains: Chicago corn turns higher

CBOT soy, wheat fall on long liquidation

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Mexico City | Reuters — Chicago corn futures turned higher Wednesday, and wheat and soy closed down, as technical trading and investor unease about the economy roiled agricultural commodity markets. Investors scrambled to liquidate long positions, traders said, even before the Federal Reserve raised interest rates by a quarter of a percentage point and indicated […] Read more
Pacific Ocean sea surface temperatures in degrees Celsius for the week centred on March 15, 2023. (CPC.ncep.noaa.gov)
General, Weather

No big changes in current weather patterns

Potential for some precipitation in early April

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MarketsFarm — With spring officially underway, don’t expect a lot of major changes in the current weather patterns across the Canadian Prairies and the U.S. northern Plains, according to Drew Lerner of World Weather Inc. at Overland Park, Kansas. “For the rest of March, it’s status quo, it will stay cold. We’re not going to […] Read more
Commercial vessels –including vessels which are part of the Black Sea grain deal — wait to pass the Bosphorus strait off the shores of Yenikapi during a misty morning in Istanbul, Turkey on Oct. 31, 2022. (Photo: Reuters/Umit Bektas)
Crops, Reuters

U.S. pushes back against Russian demands linked to Ukraine grain deal

Russian food, fertilizer already carved out from sanctions, U.S. says

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United Nations | Reuters — The United States pushed back on Russian demands that Western sanctions be eased before it allows Ukrainian Black Sea grain exports beyond mid-May, saying there were no restrictions on Russian agricultural products or fertilizer. Moscow’s demands include allowing the Russian Agricultural Bank to return to the SWIFT banking system and […] Read more

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