Agriculture and Agri-Food Canada (finally) acknowledges heat, drought have slashed its wheat and canola crops

It expects Canada’s 2021-22 all wheat crop to drop 15.01 MMT (42.7%) from last season to 20.18 MMT.

Evening Report | Aug. 26, 2021

Mix of drought improvement and degradation for Midwest. Reuters reports EPA proposes retroactive lowering of 2020 RFS mandates. Agri-Foods Canada (finally) acknowledges drought has slashed its wheat and canola crops.

Mix of drought degradation and improvement over the past week for the Midwest

Areas of the Midwest and High Plains received welcome rainfall the week ending Aug. 24, leading to localized drought improvement. But areas that missed out saw drought conditions worsen over the past week.

Wheat sales hit a new low for 2021-22, but exports registered a marketing-year high

Sales of old- and new-crop corn were in line with expectations. Soybean sales were strong, as expected, with much of the business known thanks to USDA’s daily reporting system.

First Thing Today | Aug. 26, 2021

Light pressure on corn and soybeans, but wheat bounces back. Bipartisan House bill would promote ethanol use. Philippines approves Golden Rice for commercial use. Beef prices soften for second day in a row.

ERS hikes 2021 food price outlooks

ERS made upward revisions to its 2021 food inflation forecasts for all food, restaurant and grocery store prices.

Evening Report | Aug. 25, 2021

ERS hikes 2021 food price outlooks. USDA establishes Dairy Donation Program. Covid-19 outbreaks in sparsely vaccinated Asian countries is disrupting factories.

First Thing Today | Aug. 25, 2021

Another round of rain for dry areas of the Midwest. House approves budget resolution. Biden said he planned to stick to his Aug. 31 deadline for military withdrawal. Month-plus streak of beef gains comes to an end.