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“We have not yet seen the full impact of higher interest rates on the demand for farmland.” J.P. Gervais. Graphic: Farm Credit Canada
Crops, General

Farmland values exceed expectations

Ontario leads the country with 19.4 per cent increase

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Average farmland prices were up 12.8 per cent in Canada in 2022, the largest increase seen since 2014 when the increase was 14.3 per cent. The increase follows gains of 8.3 per cent in 2021 and 5.4 per cent in 2020. J.P. Gervais, FCC’s chief economist, said the numbers were a little bit of a […] Read more
(Thinkstock photo)
Crops, Markets, Spring Wheat

Prairie cash wheat: U.S. futures drag down wheat bids

Potential for more interest rate hikes remains

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MarketsFarm — Hawkish comments from the chair of the U.S. Federal Reserve and the possible renewal of the Black Sea Grain Initiative brought down wheat futures on the Chicago Board of Trade (CBOT) for the week ended Thursday — and, in turn, pressured western Canadian wheat bids. In front of the U.S. Senate banking committee […] Read more
(File photo by Dave Bedard)
Canola, Crops, Markets

Confirmation of large canola short position slowly appears

CFTC data flow slowly resuming

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MarketsFarm — The size of the fund short position in canola rose in February and likely grew even larger in March, as weekly Commitments of Traders data slowly trickles out from the U.S. Commodity Futures Trading Commission (CFTC). CFTC data has stalled since a ‘cyber-related incident’ delayed the release of the data for weeks. As […] Read more
CBOT May 2023 soft red winter wheat with 20-day moving average, MGEX May 2023 hard red spring wheat (yellow line) and K.C. May 2023 hard red winter wheat (orange line). (Barchart)
Crops, Markets, Reuters

U.S. grains: Wheat, corn get boost off weaker dollar after multi-month lows

Expectations grow for Black Sea deal extension

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Chicago | Reuters — Chicago wheat futures closed higher on Friday, boosted by a weaker U.S. dollar, after hitting a 20-month low, while corn futures rose from a seven-month low. The markets recovered after a week that saw expectations for an extended Black Sea export deal and a lower U.S. government estimate for corn export […] Read more
ICE May 2023 canola with 20-day moving average, RSI and CFTC Commitments of Traders data. (Barchart)
Canola, Crops, Markets

Reading between the lines: Oversold canola due for correction

Technical signs point to possible recovery

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MarketsFarm — Canola futures posted sharp losses over the past week, with the May contract touching its weakest level in six months. While damage was done from a chart standpoint, there are technical signs that a recovery is possible. RSI The relative strength index (RSI) is a technical indicator that provides insight into whether a […] Read more
(Photo courtesy Canada Beef Inc.)
Barley, Corn, Crops, Markets

Feed weekly outlook: Corn the choice crop in feedlots

'Bigger feedlots are looking for volume'

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MarketsFarm — Copious amounts of corn are still being delivered to feedlots in southern Alberta despite slowly declining prices for other feed grains. “Corn is coming down over the last little bit,” Mike Fleischhauer of Eagle Commodities Ltd. in Lethbridge said. “You think that there would be a little bit more barley hitting the market. […] Read more
CBOT May 2023 corn with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets, Reuters, Weather

U.S. grains: Chicago corn dampened by prediction of El Nino rain

Black Sea export deal hopes drag wheat to 18-month low

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Chicago | Reuters — Chicago corn futures hit their lowest price since August on Thursday on expectations that the El Nino climate phenomenon could boost U.S. crops and concerns about rising interest rates. La Nina has ended, the National Weather Service’s Climate Prediction Center said on Thursday, and El Niño could possibly form during summer […] Read more
Canola industry ready to move forward
Canola, General

Canola industry ready to move forward

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The Canola Council of Canada celebrated a return to normalcy at its annual meeting at the Canadian Crops Convention in Ottawa. “Our theme this year is ‘from adversity to opportunity’ and I think that’s very fitting,” said Jim Everson, the group’s president. Production has rebounded following the drought of 2021, meaning there’s opportunity to develop […] Read more
A grasshopper in a canola field near Starbuck, Man. in the summer of 2019. (MarketsFarm photo by Glen Hallick)
Crops

Adama’s lambda-cy products to be available this year

Company to continue selling Silencer, Zivata after recall

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The Canadian arm of ag chem firm Adama says it’s relabelled its inventories of lambda-cyhalothrin insecticide products Silencer and Zivata and will have them available for sale to farmers in 2023. The company had said last November it wasn’t yet sure those products would be available this year under an approaching deadline following a 2021 […] Read more
The USDA building in Washington, D.C. (Art Wager/iStock/Getty Images)
Canola, Crops, Markets

USDA sees increased EU canola imports, no extra from Canada

U.S. also projects higher Canadian ending stocks

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MarketsFarm — The European Union will likely import more canola (rapeseed) this year than earlier thought, but any increased movement should come from Australia or Ukraine rather than Canada, according to updated projections from the U.S. Department of Agriculture. USDA raised its forecast for European rapeseed imports during the 2022-23 marketing year by 550,000 tonnes, […] Read more

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