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
Weather pulling canola prices either way
The Chicago soy complex also provided lift as well as drag
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
Canola’s pullback snaps in a big way
Expect further significant swings in coming weeks
When the downturn in ICE Futures canola finally gave way, it did so with a measure of gusto. The old-crop July contract touched its daily trading limit of $30 per tonne on May 27, before it eased back to increase by $24.40 on the day. New-crop positions also experienced jumps of more than $20. This
Pulse weekly outlook: India’s tariff elimination has little effect on Canada
MarketsFarm — A temporary elimination of some import duties on three pulses currently has little effect on Canada, according to Mac Ross, director of market access and trade policy for Pulse Canada. Earlier in mid-May, the Indian government ordered the suspension of tariffs on pigeon peas, mung beans and urad/black gram lentils until Oct. 31.
CBOT weekly outlook: Higher spring wheat all about dry North Dakota
MarketsFarm — As heat and dryness prevail across North Dakota, prices for Minneapolis (MGEX) spring wheat will continue to rise, according to broker Ryan Ettner of Allendale Inc. at McHenry, Ill. Ettner pointed to the weekly crop progress report from the U.S. Department of Agriculture that showed the condition of spring wheat in North Dakota
Thinning cattle numbers pass through Grunthal
Some producers kept cattle back on improved pastures
Despite the number of cattle headed to market declining with the greening of pastures, the Grunthal Livestock Auction Mart will continue to press ahead with its weekly auctions, according to manager and field rep Harold Unrau. “We only shut down for the week of July long and the week of August long,” he said. For
ICE weekly outlook: Swings ahead for canola
MarketsFarm — If anything is certain for canola values, it’s that they are going to be swingy for the next while, according to Ken Ball of PI Financial in Winnipeg. Canola bids, especially new-crop, have been on the downswing lately, largely due to precipitation the Prairies recently received. While the resulting moisture won’t rectify the
Cyber-Savvy Farmer
