MarketsFarm — Canada’s coming canola harvest, if lower than projected, would add tremendous pressure to prices as supplies could become much tighter than they have, according to trader Ken Ball with PI Financial in Winnipeg. Ball believes the 2021-22 canola harvest could be as low as 16 million to 17 million tonnes, well below the
ICE weekly outlook: Expensive canola required
Prairie cash wheat: Spring wheat bids spike
Durum bids up moderately
MarketsFarm — Wheat bids in Western Canada for the week ended Thursday spiked sharply for Canada Western Red Spring (CWRS) and Canada Prairie Spring Red (CPSR) wheats, while gains for Canada Western Amber Durum (CWAD) were much more subdued. Steep increases in U.S. wheat markets supported values — as did the Canadian dollar, by losing
Feed weekly outlook: Prices dip in Alberta, steady to higher elsewhere
MarketsFarm — Prices for feed barley and wheat in Alberta pulled back a little this week — and it wasn’t because the province has generally received more rain than the other two Prairie provinces. “There hasn’t been the demand as we typically have at this time of year,” Erin Harakal, senior trader with Agfinity in
Dryness pushes canola futures higher
Benefits from early-June rains have turned to doubts
New-crop canola contracts that bottomed out at the daily limit of $30 per tonne on June 17 have since made a dramatic turnaround — not so much because of what else has been going on in the markets, but rather because of the weather. As with earlier this spring, hot and dry weather has again descended over the
CBOT weekly outlook: USDA reports generate immediate turnaround
MarketsFarm — Commodity prices for corn, soybeans and wheat made a very quick turnaround on Wednesday following the release of two major reports from the U.S. Department of Agriculture (USDA). “At 11 o’clock corn was down 14 cents per bushel and went limit up 40 cents,” commented Scott Capinegro of Barrington Commodities in Barrington, Ill.
Weather pulling canola prices either way
The Chicago soy complex also provided lift as well as drag
As weather pandered to both sides of the markets this week, there wasn’t much change to canola values. There was something of a balancing act between dry conditions continuing to underpin values and significant rainfall on the Prairies providing pressure. For example, the November contract on June 4 closed at $763.60 per tonne, gaining nearly
CBOT weekly outlook: Weather market expected for rest of month
MarketsFarm — The weather is just one of the factors guiding futures values at the Chicago Board of Trade (CBOT), according to Terry Reilly, grains analyst for Futures International in Chicago. As prices have fluctuated with hot and dry weather interrupted by rain, Reilly noted there’s more to the ebbs and flows than the latest
Pulse weekly outlook: Timely rains benefitting Saskatchewan crops
MarketsFarm — As with crops across the Prairies, pulses in Saskatchewan got a much timely shot in the arm with recent rainfall, according to Carl Potts, executive director of Saskatchewan Pulse Growers. “I think pulse crops have benefitted from the rains we’ve had over the last two or three weeks here in the province,” he
Cattle numbers likely to drop as prices hold steady
Lack of regrowth on pastures may send more cattle to market
Prices at six of Manitoba’s eight cattle auctions didn’t see much movement overall for the week ended June 3. Now on a biweekly schedule, the auction marts at Ashern and Ste. Rose skipped this week, with their next sales on June 9 and 10 respectively. At Winnipeg Livestock Sales, field representative Scott Anderson said slaughter
ICE weekly outlook: Canola market pits weather against supplies
MarketsFarm — As dry conditions remained prevalent across the Canadian Prairies and U.S. northern Plains, despite recent precipitation, the markets were in a struggle between the weather and tightening supplies, according to Winnipeg analyst Wayne Palmer of Exceed Grain. So far for the week of June 7, central and northern Alberta received rain, followed by
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