CNS Canada — The canola market continues to chop around in its recently-established range of $490-$500 per tonne, but a looming U.S. Department of Agriculture report could change that, according to an industry analyst. “That (USDA supply and demand report) is going to be the driver,” said Keith Ferley of RBC Dominion Securities in Winnipeg.
ICE weekly outlook: Canola looks to USDA for direction
Hog prices feeling weakness as new U.S. plants start up
CNS Canada — Canadian hog prices are feeling the effects of near record-high slaughter volumes in the U.S. During the week ended Sept. 30, over 2.5 million hogs were processed, up three per cent from the same week a year ago and the third largest kill on record over the last 30 years. According to
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
CBOT weekly outlook: Corn dips under $3.50 as harvest pushes on
CNS Canada — The corn market dropped below a major support level during the week ended Wednesday and could be poised to hit further market lows, according to one analyst. “I think we’re within a dime or something of it,” said Jack Scoville of Price Futures Group in Chicago. The December contract fell 5.75 cents
Oat prices keep firm as harvest rolls in
CNS Canada — Oat prices firmed this week in Saskatchewan as reports streamed in indicating yields were slightly better than anticipated. Harvest in Saskatchewan is over three-quarters complete, although recent rains have delayed that progress somewhat. The province is the dominant growing area for Canadian oats. Bids rose five cents to a range of $2.33
ICE weekly outlook: Canola facing uphill climb
CNS Canada — Bearish headwinds facing the canola market may have gotten slightly worse, after the U.S. Environmental Protection Agency announced it was considering cuts to biofuel requirements in U.S. fuel. The EPA said Tuesday it was looking for feedback on proposed reductions to the renewable fuel obligations in the 2018 and 2019 Renewable Fuel
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
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.
CBOT weekly outlook: Corn, soy look for export demand
CNS Canada — The ongoing U.S. harvest is keeping a lid on rallies in both the corn and soybean markets. Corn futures on the Chicago Board of Trade chopped above and below the psychologically-important US$3.50 per bushel mark during the week ended Wednesday. Soybeans felt some pressure from fund selling and generally seemed to be
Feed barley market firms with weak production numbers
CNS Canada — A 16.8 per cent drop in the size of Canada’s barley crop has given feed barley prices some support, according to an industry-watcher in Alberta. “The market is looking fairly strong,” said Allan Pirness of Market Place Commodities in Lethbridge. “It’s made things a little firmer for new-crop feed grain.” Wet weather
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