Markets are closed for Good Friday
Yesterday morning USDA reported sales of: 680,000 mts of old crop corn to China 340,000 mts of new crop corn to China
A year ago this month, the Canadian prairie soil moisture was about 25% less than normal. The rains to make-up the shortage never came. Thomas Elder Market (TEM) is an independent, data-driven market analysis service that provides premium agricultural market insights and reports.
TEM’s Andrew Whitelaw reported last evening,
This morning I pulled the soil moisture for Saskatchewan and three sub-regions. Saskatchewan and these regions are major producers of Canola. A quick glance at the soil moisture shows that the moisture levels are lower than last year. This doesn’t bode well for the crop, especially with an active La Nina. In this report, I have only included Saskatchewan, but this province contributes a huge percentage of the Canadian national crop across a number of commodities.
His data collected yesterday shows the top 5 feet of soil averages 25 to 26% less than normal moisture for this time of year, which is slightly drier than April a year ago. The Upper Midwest into Canada is predicted to receive about two feet (60 cm) of snow today. For Canada’s farmers, the further north the better.
Dry weather continues to plague China’s “worst winter wheat crop ever”. When China says something is in poor shape, it is much, much worse than that.
Meanwhile, the world leader of wheat exports, good weather continues to favor the winter crop and now the planting of spring cereals. By April first, Russia had already planted 3.86 million acres (1,563,000 hectares) of spring cereals, 4.3 times the area planted 1 April last year.