US soybean ending stocks for 2024-25 are down sharply from last month, following a much bigger-than-expected cut to this year’s average yield projection. The USDA cut its national soy yield estimate to 51.7 bu/acre in updated monthly supply-demand estimates released Friday. That is down 1.4 bu from the October estimate and below the average pre-report trade guess of 52.8 bu, although still above last year’s average of 50.6 bu/acre. With planted and harvested area unchanged from October at 87.1 million and 86.3 million acres, the yield cut dropped the production estimate to 4.461 billion, a decline of 121 million bu from last month but still 7% higher on the year. The USDA offset at least some of the impact of the smaller crop by lowering its 2024-25 export and crush estimates from October, but ending stocks nonetheless were cut by 80 million bu to fall to 470 million, well below the average trade guess of 532 million but still above 2023-24 ending stocks of 342 million. The export f
Fueled by surging vegoils, world food commodity prices jumped to the highest in 18 months in October. The Food and Agriculture Organization of the United Nations on Friday reported that its food price index averaged 127.4 points last month. That is up 2% from September, 5.5% above October 2023 and the highest since April 2023. The index saw a strong rise in September as well, up 2% from August and hitting its highest since July 2023 due to strengthening sugar prices. The FAO food price index tracks monthly changes in the international prices of a set of globally traded food commodities. Much of the rise in the overall food index in October was due to a 7.3% month-over-month increase in the vegetable oil index. Driven mainly by production concerns, prices for palm, soy, sunflower and rapeseed oil all increased last month, pushing the vegoil index to a two-year high. International palm oil prices increased for the fifth consecutive month in October, largely due to concerns ove
Canola farmers are celebrating the passage of two new bills that significantly impact their rights to diagnose, maintain, repair, and integrate their farm machinery, according to a new release from the Canadian Canola Growers Association. Bills C-244, which amends the Copyright Act to cover diagnosis, maintenance, and repair, and C-294, addressing interoperability, recently passed their Third Reading in the Senate and are now awaiting Royal Assent. “The passage of these bills is a major win for farmers, especially during critical times like seeding and harvest,” says Dave Carey, Vice-President of Government & Industry Relations at the Canadian Canola Growers Association (CCGA). “Bill C-244 allows farmers more choice in who can diagnose and repair their equipment, saving valuable time and introducing competitive options that could lower costs. Bill C-294 enables interoperability between machinery from different manufacturers, expanding equipment choices and driving innovation.” These
Ontario Greenhouse Vegetable Growers (OGVG) has appointed Daniel Terlizzese as the new Research, Innovation & Plant Protection Lead. He brings a wealth of experience and expertise in greenhouse crop management, plant physiology, and innovative agricultural practices.
The Alberta Outstanding Young Farmers (OYF) Region is preparing to host Canada’s Outstanding Young Farmers’ National Event which will take place at the Sandman Signature Hotel Lethbridge, AB from Nov 27- Dec 1, 2024.
