Canada Markets

Statistics Canada posted final corn and soybean data for 2021-22 on Sept. 6, with corn data pointing to record imports and carry-out stocks.

Saskatchewan Agriculture made modest changes to yield estimates for some crops, while a significant spread remains between the province's estimates and the official Statistics Canada estimates for the largest crops.

Statistics Canada commentary points to a slow start to crop and product exports for 2022-23, while we look at August data for select exports over the month.

While the demand for rail shipping from the Prairies is seen rising rapidly, railways are struggling to meet the challenge.

We look at the net futures position of select commodities as well as the Canadian dollar for a feel of the moves made by speculators as seen in the most recent CFTC data.

This study looks at the CGC's reported exports for week 8, while crop year exports are projected forward based on the historical pace of movement.

Weekly Saskatchewan government data highlights the deteriorating soil moisture data.

European milling wheat is seen breaking above technical resistance that could lead to increased buying interest.

A reported 632,962 mt of canola was crushed in the month of August, while we look at implications for the balance of the crop year due to a recent change to AAFC's forecast crush.

AAFC's September forecast shows a huge year-over-year increase in wheat stocks, while canola is one of the few crops forecast to see stocks fall in 2022-23, based on Statistics Canada's most recent production estimates.

The November delivery canola basis has shown strength during the first 20 days of September and during harvest.

Canada's Consumer Price Index fell to a level that was slightly below expectations in August, although the gains from lower gasoline prices were moderated by a continued increase in food inflation.

AG Transport Coalition's Weekly Performance Update for week six shows the weekly demand sharply higher from the previous week while the percentage of cars spotted in the week wanted was reported sharply lower.

As of week 6 or the week ending Sept. 11, we look at producer deliveries into the licensed handling system and how this compares to recent years.

When 2021-22 data is omitted, estimated crop year supplies of canola for 2022-23 is the lowest seen in the previous six years or since 2014-15.

Today's September Statistics Canada production estimates, based on August model data, saw little change overall to the forecast for Canadian production. The largest changes included a 400,000 mt lower revision for canola and a 488,036 mt upward revision for spring wheat.

The USDA revised global wheat production higher this month to a record volume of close to 784 mmt, while global use is forecast to exceed production for a third year.

The USDA's rapeseed/canola estimates are bearish, including a record global production estimate. This week's Statistics Canada production estimates will play a major role in this forecast, while market watchers will be looking for signals of Chinese demand.

During the first five weeks of the 2022-23 crop year, demand for hopper cars, terminal unloads and terminal stocks are well-below average for this period, which will pressure railways to perform to meet Canada's forecast rebound in exports.

Canola broke through support along with palm oil. Rapeseed broke through support although losses were pared for a close above support. Soybeans, soybean oil and crude oil closed higher.