CNS Canada — Wheat futures in the U.S. kicked off the week on a high note, following a weekend of adverse weather in key growing regions. That may provide a short-lived boost to cash prices in Canada, though the market has its own weather watch. Chicago Board of Trade wheat futures on Monday advanced close
Weather woes buoy U.S. wheat futures
CBOT weekly outlook: ‘Managed money crowd’ buoys futures
CNS Canada — Bullish weather propped up Chicago Board of Trade (CBOT) corn and soybean futures, spurring spec buying on the week — but it’s likely not enough to break the commodities’ ranges, one U.S. analyst says. “Lately here, of course it’s been weather with all the rain last week and over the weekend. The
StatsCan canola and soybean estimates surprise traders
Abundant U.S. and world supplies continue to depress the wheat market
ICE Futures Canada canola strengthened on the week, as wet weather in Western Canada continues to put last year’s harvest on hiatus. Fresh data from Statistics Canada painted a picture of this summer’s seeding, adding an element of spreading into the market. In the week ending Friday, April 21, canola gained more than C$20 per
ICE weekly outlook: More gains likely for rising canola
CNS Canada — ICE Futures Canada canola advanced sharply on the week and has room to strengthen further, though resistance is on the horizon. Canola far outpaced Chicago Board of Trade (CBOT) soybeans in the week ending Wednesday, as the market gathered independent strength. Since last week, July canola advanced about $18 per tonne, closing
Fear of feed expected to keep malt barley acres low
CNS Canada — Concerns about weather dictating the quality of malt barley is keeping producers from seeding the crop this year, one industry participant says, while weak prices offer no extra incentive. “Acres are definitely going to be down, because of the fear of getting feed barley, which is horrendously low-priced,” said Rod Green of
Mixed conditions loom over Manitoba winter cereals
CNS Canada — A mix of freezing and warming conditions put Manitoba’s winter cereals in uncertain condition, following months of promising weather, according to the head of an industry group. Manitoba’s winter wheat and fall rye crops had ample snow cover throughout the winter, which supported crops, but more recently, conditions turned slushy, then froze
Peas hold range ahead of upcoming production
CNS Canada — A policy extension from major pulse buyer India has brought short-term support to Canada’s dry pea market, but values are hanging in a range, price- and demand-wise. India in late March extended its fumigation policy requirement for three months, allowing the market some breathing room, though officials still hope to come to
Trade’s outlook for U.S. soybeans bearish on canola
Wheat stocks limit any upside from lower U.S. acres
Speculation ahead of a much-anticipated dataset from the U.S. Department of Agriculture had ICE Futures Canada canola chopping around a wide range in the week ending March 31. USDA released its prospective plantings and grain stocks reports on March 31. The department’s seeding estimates often act as a major mover in markets, leaving values with
CBOT weekly outlook: Soybeans, corn have downside risk
CNS Canada — Soybean and corn futures at the Chicago Board of Trade have short-term downside potential, one U.S. analyst says, as traders watch exports, weather and fund positioning. Since last week, soybeans have lost close to 25 cents per bushel in the May contract, closing at $9.4425, while corn advanced 6.25 cents per bushel,
ICE weekly outlook: Canola along for ride with soybeans
CNS Canada — While springtime canola supplies look favourable for prices, bearish oilseed situations elsewhere leave ICE Futures Canada prices straddled with downside, especially ahead of a key production report. “The supply and demand fundamentals on canola are all optimistic, better than they are on most oilseeds,” said Mike Jubinville of ProFarmer Canada. “But let’s
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