CNS Canada — The potential for a storm in the Gulf of Mexico to bring rain to parts of the U.S. Midwest has caught the attention of the grain and oilseed markets. “If it turns farther north and hits some of the dry spots in Indiana, Ohio and Illinois that would be a little bit
CBOT weekly outlook: Corn, soybeans eye Tropical Storm Harvey
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
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
ICE weekly outlook: Canola sinks below $500
CNS Canada — As canola heads towards harvest some bearish headwinds have popped up that are keeping the front-month contract below the $500 mark. “There’s been a big reversal since the (U.S. Department of Agriculture) report,” said Keith Ferley of RBC Dominion Securities in Winnipeg. USDA late last week projected the U.S. soybean crop at
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
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
ICE weekly outlook: Canola consolidates as crush margins deteriorate
CNS Canada — Participants in the canola market have their rain gauges out this week to see if heat-blasted sections of the Prairies get enough moisture to help the beleaguered crop. “Many pockets of Western Canada are in desperate need of rain so that’s the feature right now,” said Keith Ferley of RBC Dominion Securities
Hard red spring wheat bids correct lower
Hard red spring wheat bids in Western Canada ran into some technical resistance during the week ended July 7, as the rally that had sustained a meteoric rise in wheat country subsided on ideas the gains were overdone. Depending on the location, average Canada Western Red Spring (CWRS) wheat prices were down by $17-$22 per
Canola traders consider stress on crops from heat
ICE Futures Canada canola futures have officially entered what one analyst calls “the silly season weather market.” Futures went through the proverbial roof the week of July 3 on concerns that a Prairie heat wave would stress the crop during its critical flowering period. The dominant November contract climbed $19.30, to hit $517.30 by that
CBOT weekly outlook: December corn looks pricey above $4 mark
CNS Canada — A larger than expected carryout of U.S. corn supplies has cast a bearish tint over the market. In the U.S. Department of Agriculture’s monthly supply and demand report, the agency pegged domestic corn stockpiles for 2017-18 at 2.325 billion bushels, which exceeded the June projection of 2.11 billion. Futures quickly plunged lower,
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