Canada Markets

A recent DTN poll along with media reports point to concerns with Statistics Canada's April-released seeded acre estimates. Today's Canada Market Blog looks at tendencies seen in acreage estimates between the April report and the June report based on the past five years.

In three recent DTN 360 polls, producers were asked to share their thoughts on recent Statistics Canada reports, one focusing on 2018 seeded acres in Canada while the second report estimated March 31 grain stocks. Here is a look at their responses.

Statistics Canada reported record Canadian exports in April, along with a sharp decline in the country's trade deficit. On a monthly basis, we look at miscellaneous agriculture trade data as reported in the Merchandise trade report.

April bulk dry pea exports are reported at 177,800 metric tons, while weekly data from the CGC shows May bulk shipments will be reported even higher. China has a key role in Canada's export program this crop year.

New-crop December spring wheat posted bearish signals this week. Activity on the commercial side points to a growing bearish view of conditions, while latest CFTC data shows speculative investors increasing their bullish net-long position.

Saskatchewan Agriculture's first release of crop condition estimates points to a poorer start as compared to 2017 and the five-year average, when comparing the crop condition index. Conditions may be seen improving in many areas.

New-crop canola consolidated in sideways trade on Wednesday, after reaching a fresh contract high in the previous session. Weakness in new-crop soybeans and a forecast that includes the potential for widespread rain in the Prairies could signal the end of the move higher.

According to Statistics Canada data, farm cash receipts in Canada increased for the seventh consecutive year in 2017, although the year-over-year increase is well-below average levels. Crop receipts were unchanged from 2016, with the lack of year-over-year change well-below...

Over 3,000 CP workers are set to leave the job as early as 10 p.m. EST on Tuesday. While farm groups request government intervention, some early signs suggest they may not be quick to do so.

Agriculture and Agri-Food Canada's May supply and demand estimates include a sharp decline in expected soybean exports for 2017/18 while a similar hike in ending stocks to a record level of 1 mmt.

Despite reaching a fresh contract high on the July chart on Thursday, the continuous monthly contract suggests that price is testing resistance that has challenged canola prices since August 2013.

Railways have made major strides to improve service for grain shippers, while the results of the CP strike vote should be made Friday afternoon and could change everything. With Bill C-49 due to be passed soon, the mining industry is raising a red flag that the industry's needs...

DTN's five-year seasonal index chart indicates that canola has reached its seasonal high in the past week's trade on average over the past five years.

Old-crop spring wheat futures broke various levels of resistance on Friday, with positive signs seen on the daily and weekly chart.

Saskatchewan producers made significant strides in planting over the past week. The eastern regions are ahead of average while the three western regions are slightly behind average, while progress is ahead of average overall. A drying trend continues in the south with rain...

India's government raised its forecast for estimated production of pulses in 2017/18, while continues to introduce measures to support domestic markets.

December spring wheat has found technical support over the past two days although, while trying to stabilize, the chart has yet to present bullish signals.

This study looks at licensed exports of Canadian grains reported by the Canadian Grain Commission as of week 40. This is compared to the average volume of exports realized as of week 40 over the past five years in order to make projections for the current crop year.

Statistics Canada found larger stocks of Canadian grains overall compared to a year earlier as of March 31, with larger stocks such crops such as peas, lentils, canola, soybeans, corn and oats offsetting declines in stocks of crops such as durum and barley.

Global ending stocks of wheat could fall for the first time in six years, according to USDA data. Stocks in the hands of the major global exporters are expected to fall to 21.1%, while eight to 10 years ago, this group held close to 40% of global stocks. China is forecast to hold...