MarketsFarm — Spring wheat bids in Western Canada moved higher during the week ended Thursday, taking back most of the losses from the previous week as gains in U.S. futures provided support. Average Canada Western Red Spring (CWRS, 13.5 per cent protein) wheat prices were up by $12-$15.50 per tonne during the week ended Thursday, […] Read more
Prairie cash wheat: Bids show some strength
U.S. wheat futures, loonie up on week
U.S. grains: Chicago soy futures bounce back after USDA forecasts
Corn crop forecast to be smaller than expected due to weather
Chicago | Reuters — Chicago soybean futures turned higher on Friday, as traders questioned a surprisingly large record-crop forecast and focused instead on August weather as recent hot and dry days threaten key U.S. growing areas. Soybean futures slid sharply after the U.S. Agriculture Department on Friday forecast U.S. soy farmers would glean a record […] Read more
Wheat, soybeans buck expectations in USDA report
Soy ending stocks figure adjusted higher
MarketsFarm — Projected average yields and production for wheat and soybeans for 2022-23 went against many analysts’ expectations, according to the U.S. Department of Agriculture (USDA). USDA released its monthly world agriculture supply and demand estimates (WASDE) on Friday, which surprisingly showed upward revisions for average yields and production despite pre-report estimates showing the opposite. […] Read more
First Ukraine grain deal ship docks in Turkey
Lebanese buyer refused delivery
Istanbul | Reuters –– The first grain ship to depart from Ukraine under a U.N.-brokered deal docked in Turkey on Thursday after 11 days at sea, Refinitiv data showed, and the ship’s agent in Turkey said it would continue to Egypt after unloading part of its cargo. The Razoni set sail from Ukraine’s Odesa port […] Read more
Canada seeks to boost foreign aid for food security
Grain traffic out of Ukraine not yet easing crisis
Amman | Reuters — An international food crisis exacerbated by the Ukraine war has spurred Canada to boost an over $6 billion annual foreign aid budget to help the most hard-hit countries in Africa and the Middle East, Canada’s aid minister said on Thursday. “The Ukraine crisis is creating shock waves when it comes to […] Read more
Prairie drought spurs record imports via Trois-Rivieres
G3 terminal reports record incoming grain handle
Agrifood firms unable to source enough grain domestically due to last year’s drought have imported a record amount through a major St. Lawrence River grain terminal this year. Winnipeg grain handler G3, whose grain terminal at Trois-Rivieres, Que. has storage capacity for 109,000 tonnes, reported Wednesday the terminal has so far unloaded over 160,000 tonnes […] Read more
JBS quarterly profit falls almost 10 per cent but tops estimates
Cattle prices 'above the expected level'
Sao Paulo | Reuters — JBS, the world’s largest meatpacker, posted an almost 10 per cent drop in net profits, to US$766 million, driven by the relative weakness of its U.S. beef and pork units in the second quarter, according to an earnings statement on Thursday. Still, it beat analysts’ forecasts. JBS reported a 4.6 […] Read more
La Nina conditions to continue, but odds lower into winter
Reuters — Chances for La Niña are expected to gradually decrease from 86 per cent in the coming season to 60 per cent during December to February in 2022-23, a U.S. government weather forecaster said on Thursday. The La Niña weather pattern is characterized by unusually cold temperatures in the equatorial Pacific Ocean. According to […] Read more
Russia to ban some imports of seeds from Canada, Europe
Canada's Prograin soybean seed on list
Moscow | Reuters — Russia will ban imports of some seeds from several locations in Europe and Canada from Aug. 15, its agriculture safety watchdog said on Thursday, citing non-compliance by suppliers with phytosanitary requirements as the reason. Imports of tomato and carrot seeds will be banned from a nursery of Satimex Quedlinburg, in Germany, […] Read more
U.S. grains: Chicago grains firm on yield uncertainty ahead of USDA report
Grains also underpinned by U.S. dollar fall after inflation data
Chicago | Reuters — Chicago wheat and soybean futures closed higher on Thursday as a weaker U.S. dollar lent support to dollar-priced commodities and traders squared up their positions ahead of a key government report. Meanwhile, corn futures firmed, supported by concerns about hot and dry weather stressing the U.S. Midwest crop through its final […] Read more
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