CNS Canada — The ICE Futures Canada canola complex is facing a slew of supportive and bearish factors as it slowly makes its way through the first part of January. Foremost on traders’ minds is a batch of reports set to be released by the U.S. Department of Agriculture on Friday. Already, there are ideas
ICE weekly outlook: Cold-weather bump expected for canola
Will the cattle market thrive in 2018?
The year that just ended saw a more or less steady upward trend
By most accounts 2017 was better than expected for most cattle auction marts across Manitoba. Volumes were up and prices weathered some early challenges, however, it leaves ranchers wondering if that trend will continue into the new year. “We closed the year with prices that were higher than a year ago,” said Dave Nickel of
Cattle markets beginning to look a lot like Christmas
Producers are cleaning out their pens ahead of year-end
As the last few days of 2017 wind down, so too does activity at most auction marts in the province. Volumes were noticeably weaker during the week ended Dec. 15 as producers cleaned out their pens before the end of the year. Just over 5,000 animals made their way to Manitoba’s eight major outlets, compared
ICE weekly outlook: March canola fights to stay above $500
CNS Canada — As traders exit the trading floor ahead of the holidays, canola futures continue to chop around amid thin volumes. “More and more traders are stepping away from the market, either because of holidays or not wanting to have big positions on ahead of them,” said Keith Ferley of RBC Dominion Securities in
Canola hovers rangebound despite StatsCan report
The global supply picture is dragging on wheat futures
ICE Futures Canada canola contracts were pressured by a bearish Statistics Canada report during the week ended Dec. 8, but managed to stay within their recently established technical range. For the most part, the dominant January contract hovered somewhere between $505 and $510 per tonne. Futures received some support from the Canadian dollar, which was
CBOT weekly outlook: Corn, soy look vulnerable to downside
CNS Canada — Soybean and corn futures both suffered losses over the past week as improving weather patterns in South America have pushed the commodities below their recent support levels. CBOT March corn dipped below the psychologically-important $3.50 a bushel level on Tuesday (all figures US$). The market was pressured by the U.S. Department of
Feed barley in sync with Manitoba corn
CNS Canada — This year’s bumper harvest of Manitoba corn is making an impact at Alberta feedlots. According to Market Place Commodities at Lethbridge, feed barley prices are near the $215 per tonne mark, down $5 from a few weeks ago. “Corn is filling some of the volume demand, so it is keeping the price
Cattle prices see pressure as seasonal bump clears
Volumes should taper off heading toward year-end
Prices for Manitoba cattle softened slightly during the week ended Dec. 1, as the seasonal bump that helped push prices higher in early November evaporated. Around 12,400 head made their way into the province’s eight major auction outlets, compared to 14,350 the week before. “Volume-wise we’re running about a half to two-thirds of what we
ICE weekly outlook: Canola holds rangebound with bearish StatsCan data
CNS Canada — Canola contracts on the ICE Futures Canada complex stayed mostly rangebound during the week ended Wednesday, even as sharp fluctuations in the Canadian dollar and a bearish Statistics Canada report impacted the market. StatsCan on Wednesday released its final production estimates of the year, projecting canola production in 2017-18 at 21.3 million
Canola stocks look less tight in StatsCan report
CNS Canada — Canadian farmers grew a record amount of canola in 2017, despite weather concerns, according to updated production estimates on Wednesday from Statistics Canada. The agency pegged production in 2017-18 at 21.3 million tonnes, up from the September estimate of 19.7 million and last year’s total of 19.6 million. The rise in production
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