Wet weather is limiting cattle traffic to the U.S. Midwest
The cattle market in Manitoba has been busy since the start of the New Year, with prices surprising in some cases, according to a buyer. “We’ve seen since Christmastime a significant increase in the culled cow prices, the Canadian packers have upped their cow kill by quite a bit and demand was considerably stronger than […] Read more
An ongoing lack of USDA data further fuzzes the outlook
At first glance it seems quiet in the ICE Futures canola market. It’s winter, cold out and there’s not much happening. But below the surface it’s more than meets the eye. The ICE Futures canola market finished the week of Jan. 18 slightly higher after dipping during the middle of the week. The Chicago Board […] Read more
Minneapolis and Kansas City March wheat futures were both down on the week
Wheat bids in Western Canada were mostly weaker for the week ended Jan. 11, as a stronger Canadian dollar weighed on prices. Average Canada Western Red Spring (CWRS, 13.5 per cent protein) wheat prices were down, falling $3-$4 per tonne, according to price quotes from a cross-section of delivery points compiled by PDQ (Price and […] Read more
A lack of USDA data leaves traders ‘buying the rumour’
The ICE canola futures market spent the holiday season like it usually does, paying attention to goings-on south of the border. However, near the end of the two-week holiday period, canola broke out on its own due to a rally in the Canadian dollar. The holidays were kicked off by a partial U.S. government shutdown, […] Read more
Spring wheat prices are expected to see pressure in the new year
While spring wheat prices in Western Canada enjoyed a strong year, durum prices weren’t so lucky. Heading into 2019, spring wheat prices could fall victim to increasing global wheat acreage, while durum prices will need to see acreage fall. Data from the PDQ (Price and Data Quotes) show Canada Western Red Spring (CWRS, 13.5 per […] Read more
China’s initial purchases of U.S. soy were underwhelming
China was the theme of the week for commodity markets. Whether it was the ongoing drama between the U.S. and China or the Huawei executive case in Canada, China had all the North American commodity markets on edge for the week ended Dec. 14. As had been the case since the G20 meeting between U.S. […] Read more
Variable quality leads to variable prices at auctions
As the fall run wraps up at Manitoba auction marts and volumes start to drop, any cattle that aren’t in top form are selling for discounts. “Guys are getting a little fussier on the quality and the discounts for non-performing-type cattle are getting a little steeper,” said Allan Munroe of Killarney Auction Mart. Feedlots are […] Read more
Corn futures followed soybeans’ volatility during the week
It was a volatile time for the ICE Futures canola market during the week ended Nov. 30, as oilseed traders anxiously awaited news from the weekend’s G20 summit in Argentina. U.S. President Donald Trump met with Chinese President Xi Jinping on Dec. 1. The two reached a trade truce where they will hold off on […] Read more
Sales are seen winding down in mid-December for the year
Prices for cattle at Manitoba auction marts are starting to settle closer to their western Canadian counterparts after riding a high throughout most of the fall run. “It looks like we’ve hit the peak. It has come and gone here,” said Rick Wright of Heartland Order Buying. That said, run numbers “are still quite good.” […] Read more
Traders may be realizing they can’t bank on tweets
It was a sad week for the ICE Futures canola market ending Nov. 16. The January contract dropped below the $480-per- tonne mark and while many may hope it will go back higher, they should also prepare for it to go lower still. January canola flirted with the $480-per-tonne mark all week; there were days […] Read more
