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USDA report surprises oilseed market

Traders were expecting a lower yield number and when they didn’t get it, they reacted

ICE Futures Canada canola contracts may have finally topped out after the USDA’s monthly supply-and-demand report put the entire oilseed sector under pressure. Canola futures began climbing back in the early part of September, eventually rising above the $520-per-tonne mark. However, that changed on Thursday, November 9, when the USDA left its prediction for soybean […] Read more

Parched Prairies settle in for frigid winter

Big portions of Western Canada remain very dry headed into winter

Much of Manitoba may have adequate soil moisture, but the same can’t be said for your colleague to the west. Timely snows will be badly needed this winter to insulate drought-stricken areas of Western Canada from what are expected to be cold temperatures. Multiple areas of southern Saskatchewan are locked in a D-4 drought, which […] Read more

Hard red spring wheat bids firm on Prairies

Basis levels varied a bit, but in general remained steady within an established range

Hard red spring wheat bids in Western Canada rose for the week ending Nov. 3, tracking action in the U.S. futures. Depending on the location, average Canada Western Red Spring (13.5 per cent protein CWRS) wheat prices were up C$3 to C$5 per tonne across the Prairie provinces, according to price quotes from a cross-section […] Read more

Strength in beef demand, futures supports prices

More U.S. cattle coming to market could add pressure

Cattle prices at Manitoba auction marts remained surprisingly strong for the week ended Oct. 20 as higher U.S. futures prices and steady demand elevated prices across the board. Bids for feeder steers (300-400 lbs.) were up roughly $5 per hundredweight, with top-quality feeders attracting strong bids. The heavier-weight animals also attracted solid interest. Steers (700-800 […] Read more

Blooming rapeseed field at sunset

Fundamentals, uncertainty hold canola rangebound

USDA’s soybean yield outlook was briefly helpful

The ICE Futures Canada canola market enjoyed a slight bump during the week ended Oct. 12, as a bullish U.S. Department of Agriculture report lifted the tide for all oilseeds. However, canola futures will likely need more bullish news if they hope to shake free of their recently established range of $490-$500 per tonne. USDA […] Read more

Fall kicks off with good demand, prices at markets

Local buyers show interest in the smaller cattle

The Manitoba cattle market is starting to see good demand and rising prices for its animals as the fall season gets fully underway. Approximately 6,580 head were sold at the province’s eight major auction marts during the week ended Oct. 6. Generally speaking, prices were higher in most classes. “We’re seeing the demand on the […] Read more

Oilseed Rape Pods

Canola remains rangebound despite support for soy

The latest USDA report put pressure on wheat values

ICE Futures Canada canola futures spent most of the week ended Sept. 29 chopping around in their recently established range, despite two major reports that moved other agricultural markets. The U.S. Department of Agriculture on Friday released its quarterly stocks report, in which it pegged U.S. soybean stocks at 301 million bushels. That was far […] Read more

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