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Agriculture Roundup for Monday, November 21, 2022

The Saskatchewan Wheat Development Commission and the Saskatchewan Winter Cereals Development Commission are asking producers for feedback on the potential amalgamation of the two organizations.

Resolutions were passed in January giving approval to the groups to explore options for amalgamation.

An initial online survey found producers were overwhelmingly in favour of exploring options for amalgamation.

A more in-depth consultation document providing the background, rationale, and process for the potential amalgamation has been released. It can be found on both commissions’ websites. Registered producers can comment until Dec. 11.

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Wheat Futures Head for the Moon on Escalating Drought Concerns

Video: Wheat Futures Head for the Moon on Escalating Drought Concerns


???? Wheat surges on drought: Prices jumped to multi-week highs as worsening dryness grips the Plains, with 70% of winter wheat in drought. Corn edged higher, while soybeans slipped.

??????? Mixed weather pattern: Rain improved parts of the Corn Belt, but drought worsened elsewhere—especially the High Plains and Kentucky. Nebraska conditions sharply deteriorated, with 56% in extreme drought.

????? Oil spikes on tensions: Crude climbed over 3% near $96 as Iran keeps the Strait of Hormuz restricted, while fragile ceasefires keep geopolitical risk elevated. ???? Pulses gain favor: Farmers are shifting to peas and lentils as a rare profit opportunity, driven by strong protein demand and lower input costs.

???? Exports mixed but solid: Corn sales dipped week-over-week but remain strong overall; soybean and wheat sales showed mixed trends, with steady global demand.