Canada Markets

The U.S. spring wheat crop condition was revised 9 percentage points lower to 51% good-to-excellent for the week ending June 18, or the third lowest for this week over the past 20 years.

The December spring wheat contract has breached its 100-day moving average and testing its 61.8% retracement line. Trade is seen consolidating while the most recent data continues to signal a bearish sentiment on the part of speculative traders.

The summer weather market came early this year as the U.S. Drought Monitor shows deteriorating conditions and the seven-day forecast continues to show a lack of coverage for the eastern Midwest. This study looks at the sharp gains realized across select crop and product...

This study looks at the recent trend in western port unloads, while comparing to the three-year average of activity during the remaining seven weeks of the crop year.

Precipitation across Saskatchewan was viewed as spotty during the past week, while topsoil moisture ratings are shown in decline. Crop condition shows only a modest decline overall.

Large green lentil bids are seen nudging higher this week although there are some indications that demand is on the verge of slowing.

The November canola contract continues to move higher, with support from a large bearish net-short position seen in canola futures. Canola's gains have failed to keep pace with rapeseed and soybean oil.

Growing drought is seen in southern Alberta, while rains are seen in the forecast for the next week.

The Canadian Agri-Food Policy Institute released a report this week focusing on the challenges the Canadian industry faces in meeting global demand. Growing land-use pressures were one of the issues presented.

Canada's imports of biodiesel reached a record volume in April.

This study looks at Statistics Canada's April merchandise trade data for select crops and crop products.

Australia's official estimates point to a forecast 34% drop in wheat production in 2023-24, while in recent years of falling production, the June forecast has overstated production.

Commercial stocks of canola fell for a third week in week 43, while are the lowest stocks reported for this week in six years. The three-year average shows commercial stocks trending lower through the end of the crop year.

The pace of spring seeding in Saskatchewan is slightly below the five-year average while the first crop condition of the season points to a very favourable start for the crop overall.

Malaysian crude palm oil closed lower for a third straight month, while EU legislation to prevent deforestation is forecast to have a detrimental effect on exporters.

The April canola crush fell from the previous month but remains the second-largest monthly volume achieved this crop year.

Spring seeding in Alberta is ahead of average as of the recent Crop Report, while emergence is well-ahead of average.

Commercial stocks of durum have tightened for a seventh consecutive week and are well-below average as of Week 42.

The spot Canadian dollar chart shows a double-top formed in the months of April and May, while current trade is near a test of the April low.

AAFC has updated their supply and demand forecasts for 2022-23 and 2023-24, incorporating official data from Statistics Canada. Stocks of principal field crops are forecast to increase year-over-year, although there remains significant differences in AAFC's wheat forecast...