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Fertilizer Canada Working with All Levels of Government to Seek Solutions to the Challenges Faced by the Fertilizer Industry

Ottawa, ON – Fertilizer Canada commends the federal, provincial, and territorial governments for their continued efforts in addressing the COVID-19 pandemic, and for giving assurances to Canadian farmers that work will continue as normal. Fertilizer production supply chains will remain open during this critical time of year.
 
“We are very pleased to see that not only has the federal government declared our industry and supply chain as an essential service, but so have a majority of provinces,” said Garth Whyte, President and CEO at Fertilizer Canada. “Our manufacturing facilities will continue to operate at normal capacity to meet the demands of farmers as they begin preparations for the spring planting season.”
 
The Canadian fertilizer industry has proven its adaptability in challenging situations to meet not only the needs of customers, but any worker along the supply chain. Once the Canadian economy works to bounce back from this challenging period, farmers and producers will undoubtedly play a leading role in the country’s economic recovery in the coming months.
 
“The Canadian fertilizer industry employs over 76,000 workers and contributes nearly $24 billion to Canada’s economy every year. In order to maintain our status as a global leader and to keep our workers and communities safe, industry and government must work together, particularly during this global health crisis,” said Whyte. Fertilizer Canada looks forward to working with all political parties to seek solutions to the challenges faced by the fertilizer industry today. This will ensure farmers in Canada and around the world have access to reliable and sustainable fertilizer products.
Source : FertilizerCanada

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"Perfectly Timed" Rains: Above-Trend Corn and Soybean Yields??

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Agricultural Market Update: Grain Prices, Crop Conditions, and Weather Impacts

Welcome back to our channel where we provide comprehensive updates on the latest trends and changes in the agricultural sector. This week, we're looking at significant movements in grain prices, crop conditions, and the effects of weather patterns. Let's dive into the details:

Grain Price Decline Grain prices have fallen to their lowest levels since 2020, with December corn down 4.3% and November soybeans losing 3.1%. This decline is partly due to the beneficial moisture brought by Hurricane Beryl to the Midwest, which has improved crop conditions significantly. The USDA reported that corn and soybean crops are in their best condition in four years, contributing to the downward pressure on prices.

Record Short Positions and Market Sentiment Fund traders have increased their net short positions in the corn market to a record level, with a net short of 347,000 contracts of corn. This reflects a bearish sentiment in the market, further influencing grain price dynamics. Similar selling trends were observed in soybeans and SRW wheat, indicating broad market caution.

Weather Impact and Forecast Hurricane Beryl has brought significant rainfall across Arkansas, Missouri, western Tennessee, western Kentucky, and southern Illinois, with more expected over Missouri, Illinois, and Indiana in the coming days. Despite this, the market is currently more focused on the moisture benefits rather than potential heat risks forecasted in the 6-10 and 8-14 day periods.

US Crop Conditions Corn and soybean conditions have shown slight improvements last week, with corn rated 68% good to excellent and soybeans at 68%. These are among the best ratings for this time of year since 2020, suggesting robust crop health that could continue to influence grain prices.

Winter Wheat Harvest and Spring Wheat Conditions The US winter wheat harvest is progressing well, ahead of schedule with significant portions already harvested in Kansas and Texas. Spring wheat conditions are also favorable, with 75% rated good to excellent, although there have been some declines in states like Idaho, South Dakota, and Washington. Brazil's Corn Harvest and US Exports Brazil's second corn crop harvest is advancing rapidly due to favorable hot and dry conditions, with 63% of the crop already harvested. Meanwhile, US corn shipments saw a substantial increase last week, indicating strong export demand, which contrasts with the recent drop in domestic grain prices.

Ongoing Developments Lastly, the USDA reported a flash sale of corn, with significant quantities sold to unknown destinations, scheduled for delivery over the next two marketing years. This could signal ongoing international demand for US corn despite lower prices.

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?? Join the Conversation: How do you think these developments will impact global agricultural markets? What are your views on the current weather patterns affecting crop conditions? Share your thoughts in the comments below. Your input is crucial for our discussions.