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Bargain buying of U.S. soy supports ICE canola futures

Corn relatively unchanged on U.S. biofuel policy turmoil

It was a bumpy ride for the ICE Futures Canada canola market during the week ended July 6. The aftermath of a bearish acreage report by Statistics Canada on June 29 gave way to trepidation on Friday, when Chinese tariffs on U.S. soybeans finally kicked in. Traders sold off contracts in the days leading up […] Read more

Cattle prices hold steady on feed crop expectations

Rising volumes of U.S. pigs could weigh on beef values

Prices for finished cattle in Manitoba held relatively steady during the week ended June 28. Weakness in the Canadian dollar, expectations of lower feed prices in the fall, and improved moisture conditions in key regions were cited as some of the key reasons. “The feeder cattle market has been stronger here in Western Canada,” said […] Read more

Rain across Prairies, fund liquidation drag on canola

U.S. trade spats with other countries roil commodities

The ICE Futures Canada canola market continued to trend lower during the week ended June 8. The front-month July contract gave way to the November contract month as the dominant value, as traders roll into the new crop. November sunk below the $510-per-tonne mark and closed at $511.10, down $11.90 from June 1. Fund liquidation […] Read more

Packers’ aggressive pace cuts into supply glut expectations

Bids on heavier-weight feeder cattle remain supported

A glut of beef that was expected to flood grocery stores this summer, and depress prices for Manitoba ranchers, might not be as large as initially expected. Strong export business in the U.S. and a massive amount of processing by U.S. packers has managed to whittle down the volumes of summer beef out there, according […] Read more

Dry conditions on Prairies underpin canola trading

China’s interest in U.S. soy is both bearish and bullish

Contracts on the ICE Futures Canada canola complex inched their way higher during the week ended May 25, momentarily threatening to break above major chart resistance at $540 per tonne until traders stepped in and took profits before Friday’s close. Many parts of Western Canada are badly in need of more rain, underpinning trading in […] Read more

Beef supply expectations drag on Manitoba cattle auctions

Spring seeding work takes priority for many producers

The looming glut of fat cattle expected to descend on the North American meat market this summer is already starting to be felt on the price boards of Manitoba auction marts. Bids for heavier-weight cattle were especially under pressure during the week ended May 17, according to participants. “Heavy cattle have been feeling the pressure […] Read more

Blooming rapeseed field at sunset

Despite government reports, canola remains rangebound

A new supply/demand report loads weights on U.S. futures

Canola contracts continued to chop around the $525- to $535-per-tonne range during the week ended May 11, despite some recent government reports that were deemed bullish for the market. The U.S. Department of Agriculture on May 10 released its monthly supply and demand report, in which it lowered its estimate of the ending stocks for […] Read more

Cows herded in to holding pen

Sale volumes rise as prices improve on heavier cattle

Grass appears to be greening up in a timely fashion

Prices for cattle at Manitoba auction marts ticked upward during the week ended May 4, particularly on cattle at the heavier end, as producers prepared for spring activity. Feeder steers ranging from 700 to 900 lbs. were generally $5/cwt higher on average, according to prices from the province’s main auction marts. It was a different […] Read more

Cattle prices ‘hit the bottom’ at Manitoba auction sales

Recent sales point to interest in top-quality heifers

Prices carved out a bottom for themselves at most Manitoba auction marts during the week ended April 20, according to one industry expert. Bids for heavier cattle dipped a few dollars on average while lower weights also were under pressure. Steers in the 400- to 500-lb. class were generally in the mid-$230s to -$250s per […] Read more

Canola futures see support despite bearish carry-out

July canola slips on strength in the Canadian dollar

Canola futures took a step back during the week ended April 13, weighed down by strength in the Canadian dollar. Traders began exiting the ICE Futures Canada May contract and securing more favourable positions. While the July contract fell $11.30 on the week, to $526 a tonne, it still showed independent strength given the bearish […] Read more