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Prairie wheat bids continue on trek downward

MGEX December spring wheat futures dropped more than 25 U.S. cents on the week

Hard red spring wheat bids in Western Canada softened yet again during the week ended Sept. 15, as downward action in U.S. futures dragged on values. Depending on the location, average Canada Western Red Spring (CWRS) wheat prices were down $5-$6 per tonne across the Prairie provinces, according to price quotes from a cross-section of […] Read more

Harvest time - combine at canola field

U.S. soy, Prairie weather help halt canola’s skid

A new USDA report was briefly bearish for corn and soy

ICE Future Canada canola contracts managed to halt their recent trek downward on the charts through a mix of weather issues, speculative buying and upward action in U.S. soybeans. However, strength in the Canadian dollar and the continuing oilseed harvest throughout North America were still bearish forces for the commodity during the week ended Sept. […] Read more

Autumn gradually arriving at Manitoba cattle markets

A softer slaughter cattle market isn’t unusual right now

Volumes are slowly increasing at cattle markets across Manitoba as more auction marts open for the fall season. Nearly 3,000 cattle made their way before buyers during the week ended Sept. 8, compared to a little over 1,000 animals the week before. “The good-quality yearlings were very decent; we had about 100 new-crop calves here […] Read more

U.S. soy, corn growers take stock after Harvey

StatsCan’s canola outlook is within trade estimates

The effects of Hurricane Harvey on soybean-growing weather and energy markets made for a choppy canola market during the week ended Aug. 31. The frenetic week ended with Statistics Canada’s production estimates, which made for an interesting question: was it bullish or bearish? The initial response seemed to indicate investors were mildly reassured by the […] Read more

Cattle values soften as markets seek a new low

Retail beef purchases should slow after Labour Day

The cattle market seems to be carving out a bottom for itself as the summer season winds down. Just over 650 animals made their way through the rings of the few auction marts that were open during the week ended Aug. 25. Prices were a bit softer than last week, for the most part. Butcher […] Read more

Fundamentals help canola get back above $500 mark

U.S. wheat futures slip on improving conditions

It was a choppy time for canola contracts during the week ended Aug. 18, but underlying fundamentals have pushed the front-month contracts above the psychologically important $500-per-tonne mark. Questions are growing about next year’s carry-out, as current trade guesses put the crop somewhere between 17.5 million and 19.5 million tonnes. A lot of the crop […] Read more

Prairie wheat bids continue descent

Cash wheat values follow U.S. wheat futures’ loss of altitude

Wheat bids in Western Canada continued to soften during the week ended Aug. 11, feeling the pull of downward action in U.S. futures. Depending on the location, average Canada Western Red Spring (CWRS) wheat prices were down by $14-$16 per tonne across the Prairie provinces, according to price quotes from a cross-section of delivery points […] Read more

Wheat and US dollars

Bearish USDA report drags on U.S. commodity futures

A sinking loonie worked in canola futures’ favour

The canola market continues to be locked in sideways trade, even as a bearish U.S. Department of Agriculture report temporarily rocked the oilseed world. USDA on Aug. 10 released its monthly supply-and-demand report, in which it raised its estimate for this year’s U.S. soybean harvest to 4.4 billion bushels, a figure nearly on par with […] Read more

Cattle sales begin to pick up

It’s still a bit slow, but last week saw animal numbers more than double

It was a slightly busier time for auction marts around the province as over 650 animals made their way to market during the last week of July. That compares to just 300 last week. Feeder steers in the 400- to 500-lb. range fought to stay north of the C$200 (per hundredweight) mark. Steers in the […] Read more

Traders keep canola prices above the $500 support mark

Drought in the U.S. spring wheat area continues 
as the main feature of the wheat market

ICE Futures Canada canola contracts chopped around for the week ended July 21, torn between conflicting weather issues, before finally ending relatively unchanged. Early in the week, ideas took hold that canola fields in some parts of Saskatchewan and Alberta had likely suffered irreversible damage due to the heat stress suffered in late June and […] Read more