MarketsFarm — There were two notable surprises in the latest supply and demand estimates from the U.S. Department of Agriculture, according to Ryan Ettner, trader with Allendale Inc. in McHenry, Ill. One was USDA having maintained its carryout for corn; the other was the carryover for wheat being a little larger than what the markets
U.S. crop prices climb following April WASDE report
New-crop canola prices inch higher
Canola values haven’t stayed in lockstep with other veg oils
The spread between old-crop canola and new-crop contracted during the week of March 24-31, as the May contract will soon lose its relevance. Russia’s invasion of Ukraine provided a powerful impetus for global oilseed prices to spike, as crude oil’s strong prices provided plenty of support to its edible cousins. International economic sanctions placed against
CBOT weekly outlook: Smaller corn, soybean ending stocks expected
MarketsFarm — Ahead of the April supply and demand (WASDE) report from the U.S. Department of Agriculture on Friday, trader Ryan Ettner of Allendale Inc. at McHenry, Ill. said he’s expecting carryovers for corn and soybeans to come in below March’s estimates. Ettner has also pegged the wheat carryout to be a little bit higher.
Canola exports turn tiny as Canada running out
MarketsFarm — There was a tremendous drop in canola exports from Canada during week 34 of the 2021-22 marketing year, according to the Canadian Grain Commission. The commission’s report issued Thursday showed a mere 800 tonnes of canola were shipped overseas. The week before, 128,300 tonnes were outbound. “We’re really getting close to running out,”
ICE weekly outlook: Canola in its own world, analyst says
MarketsFarm — To market analyst Wayne Palmer of Exceed Grain, canola “has been in a world of its own for about the last month,” and he expects that will remain the case for some time. Canola, he explained, has generally done the opposite of the Chicago soy complex — which the Canadian oilseed normally follows.
Prairie cash wheat: Spring wheat nudges higher, durum dips
MarketsFarm — Wheat prices on the Prairies during the week ended Friday saw moderate gains in Canada Western Red Spring (CWRS) and Canada Prairie Spring Red (CPSR) wheats while Canada Western Amber Durum (CWAD) eased slightly. The war in Ukraine continued to play havoc in the markets. After strong increases at the start of the
Feed weekly outlook: Prices likely to hold firm after CP stoppage
MarketsFarm — Feed prices have remained fairly steady over the last week and are likely to continue to do so in the coming week, according to Erin Harakal, senior trader for Agfinity at Stony Plain, Alta. “I don’t see anything drastically changing in the next week,” she said. Harakal added there was nervousness in the
Canola’s wild ride ends up near where it started
Oilseeds are caught up in crude oil values’ ebb and flow
Despite all the volatility in the markets over the last seven days, ICE Futures canola values ended up pretty much where they started. On March 10, the nearby May canola contract closed at $1,130.70 per tonne; a week later it finished at $1,130.20. It was a similar story for the July contract, at $1,096.40 per
Pulse weekly outlook: Lentil prices expected to hold
MarketsFarm — Prices for green and red lentils are very likely to remain relatively steady, according to Marlene Boersch of Mercantile Consulting Venture Inc. in Winnipeg. “Inventories are relatively low and there are not a lot of people to go to for green lentils in Canada,” she said. “From a buyer’s point of view, they’re
Cattle markets: Fuel, feed prices weigh on values
Rising prices for fuel and feed are cutting into cattle prices, Brad Kehler of the Grunthal Livestock Auction Mart said. Fuel prices have skyrocketed due to Russia’s invasion of Ukraine and the subsequent ban on Russian oil imposed by the U.S., Canada and other countries. Regular gasoline in Winnipeg ranged from $1.669 to $2.019 per litre on March
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