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Dry concerns showing up

WINNIPEG, Manitoba — Alberta is starting to dry up. Crops got a good start, but conditions are slipping and the outlook is for an about average crop now.

Weather pressures

Weather pressures

Wheat traded with losses for three out of four sessions last week. For the week ending July 24, September Minneapolis dropped 10.5 cents, September Chicago was off 3.5 cents and September Kansas City slipped 13.25 cents.

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USDA: US meat, seafood prices rising on drought and disease

Overall U.S. food inflation will remain near the historic norm in 2014, even as prices for meat and seafood are pushed higher by disease and widespread drought, the U.S. Department of Agriculture said on Friday.

Flax market hot

WINNIPEG, Manitoba — Now is the time to have a few bins of flax. You can probably sell them to Legumex Walker at $15 per bushel freight on board farm most places in western Canada.

Minor technical correction

Minor technical correction

Wheat closed the week ending July 17 with gains. For the week ending July 17, September Minneapolis gained 9 cents, September Chicago gained 24.75 cents and September Kansas City gained 12.75 cents.

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Corn up, prices down

Corn up, prices down

It’s been two years since a devastating drought withered crops in the U.S. and sent the price of corn skyrocketing. Now, U.S. farmers, including those in South Dakota, are preparing to harvest what is expected to be a massive corn crop for the second year in a row, even as the price of corn has tumbled to a level far below where it was a year ago.

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New crop soybeans

WINNIPEG, Manitoba — Soybeans are well into the process of collapsing to new crop levels.

Potential production pressures

Potential production pressures

Wheat lost ground in every session last week. Selling was tied to improving weather conditions in the plains, as well as from position squaring ahead of the July 11 U.S. Department of Agriculture reports.

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Grain exporters to feel more price pain as shipping rates rise

An improved outlook for global bulk shipping rates spells bad news for grain exporters as they go into the latest sales campaign, with increased freight costs squeezing profit margins and adding to price competition in leading markets.

Bearish reaction to USDA’s report

WINNIPEG, Manitoba — The U.S. Department of Agriculture reported that old-crop soybean stocks were above expectations and new-crop plantings well above.

Devastating USDA report

Devastating USDA report

Wheat struggled last week with most of the selling tied to the June 30 bearish U.S. Department of Agriculture reports. For the short week ending July 2 (markets closed at noon on July 3 in observance of the Fourth of July and remained closed until July 7 at 8:30 a.m.), September Minneapolis dropped 27.5 cents, September Chicago dropped 18 cents and September Kansas City gave back 43 cents.

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USDA report shows large corn, soybean stocks

The U.S. Department of Agriculture’s June Grain Stocks report showed much larger June 1 stocks of both corn and soybeans than had been anticipated by the market. The Acreage report revealed much larger acreage of soybeans than had been anticipated, according to a University of Illinois agricultural economist.

Canary moving

WINNIPEG, Manitoba — Canary markets were dropping through the winter, but have been on the upswing since March, falling from 27 cents per pound at harvest to a late-winter low of 19 cents. They have been recovering gradually and now 22 to 22 ½ cents is available. Movement is normal. There doesn’t appear to be any difficulty in sourcing canary.

Soybeans stronger on demand

Soybeans stronger on demand

As of the June 26 close, July Minneapolis was down 11.5 cents, September Minneapolis was down 8 cents, July Chicago was 3 cents lower and July Kansas city gained 0.25 cents. Wheat futures were trading 5 to 10 cents higher the morning of June 27.

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USDA sees more rapid increases for US dairy, fruit prices

The U.S. Department of Agriculture on June 25 maintained its forecast for U.S. food prices to rise by 2.5 to 3.5 percent in 2014, in line with historic norms, but raised its estimates of price increases for dairy and fresh fruit.

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