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The Farm Report


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2020 Canadian farm cash receipts rise
Statistics Canada released the 2020 farm cash receipts report, and despite all the logistical challenges last year total farm cash receipts hit another record high of $71.7 billion, with an eight percent year over year increase. This was after 2019 had a six percent increase from 2018. This is the 11th consecutive year that total farm cash receipts have grown. Over the past 10 years, total farm cash receipts have increased at an average rate of five percent.
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Crop receipts have increased at an average rate of seven percent, while livestock and livestock products have increased on average four percent. In 2020, total crop receipts accounted for most of the increase, up 14 percent to $41.9 billion. Total livestock and livestock products were down just under one percent to $26.4 billion. Direct payme ....

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3 Big Things Today, January 11, 2021


2. Speculative Investors Raise Net-Long Positions in Corn, Soft-Red Winter Wheat
Money managers increased their net-long positions, or bets on higher prices, in corn while reducing their bullish outlook on soybeans last week, according to the Commodity Future Trading Commission.
Investors were net-long by 328,208 corn futures contracts as of Jan. 5, the CFTC said in a report. That’s up from the 309,163 net-long positions held a week earlier.
In soybeans, speculators held a net-long position of 159,446 futures contracts, down from 179,606 contracts a week earlier, the agency said. That’s the smallest bullish position for soybeans since the beginning of September.
Despite the decline in soybeans’ net-long position, investors are still quite bullish on the big three agricultural commodities due to dry weather and shipping concerns in Argentina. ....

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