CNS Canada — Fundamental features are likely to pressure technical soybean and corn markets at the Chicago Board of Trade, one U.S. analyst says, keeping a lid on prices into the New Year. Soybeans — “I’m outright bearish on the beans,” said Preston Zacharias, market analyst at CHS Hedging. The January contract for soybeans will
CBOT weekly outlook: Soy, corn set to start New Year off weaker
ICE weekly outlook: Canola to notch lower in holiday trade
CNS Canada –– ICE Futures Canada canola contracts are likely to edge lower, short-term, in sluggish holiday trading. “It’s just kind of a quieter time of year for fundamental news, so you’re just kind of taking direction from outside markets,” said Jon Driedger of FarmLink Marketing Solutions. Canola prices will likely see pressure moving into
StatsCan lentil numbers confirm trade suspicions
CNS Canada — New Statistics Canada data has confirmed what traders already assumed: Lentil supplies aren’t lacking, despite excess moisture this year. Prices for the pulse had been trending lower with those suspicions, and buyers are looking to India for indications on where to move in the New Year. StatsCan estimates released Tuesday say farmers
CBOT weekly outlook: Technicals trump recent support in soy
CNS Canada — Soybean futures at the Chicago Board of Trade look technically bearish, one U.S. analyst says, but spec-longs may keep support in the market. Corn futures, meanwhile, are expected to continue in a rangebound trend. “Corn is still basically in a trading range; it doesn’t excite people. Beans, they’re all over the place,”
ICE weekly outlook: Traders look to StatsCan, U.S. veg oil
CNS Canada — With questions about the size of Western Canada’s canola crop remaining, ICE Futures Canada traders are looking to an upcoming Statistics Canada report for indications on where to move next. Sharp advances in the Chicago Board of Trade soyoil market underpinned canola on the week, and investors are waiting to see if
Malt barley market weaker with increased supplies
CNS Canada — Despite reports of quality issues this year, malt barley prices are soft, as increased quantity put a damper on the market. Spot malt barley prices are about $4.75-$4.85 per bushel in Western Canada, Prairie Ag Hotwire data said, which compares with last year’s harvest prices of about $5.25-$5.75. “We do have a
CBOT weekly outlook: Corn, soy have room to decline further
CNS Canada –– Soybeans and corn at the Chicago Board of Trade are likely to trend lower as traders focus on the U.S. dollar’s recent strength. “This is a currency-driven market; we think the currency has moved too fast, too soon,” said Terry Reilly of Futures International, LLC. The U.S. dollar moved to a fresh
Canaryseed prices to whipsaw on weather
CNSC – Saskatchewan’s canaryseed spot prices have seen short-term gains, as wet conditions stalled harvest progress, but one industry participant expects the market may drift back down in the long run. “It’s a pretty good crop, it just isn’t in the bin,” said David Nobbs, managing partner of Canpulse Foods, and current chair of the
Winter cereal acres unclear due to wet conditions
Commodity News Service Canada/Winnipeg – Variable conditions across Manitoba and Saskatchewan have made it difficult to estimate winter cereal acreage, the head of an industry group says. But crops that are in the ground have seen mostly favourable weather. Jake Davidson, executive director of Winter Cereals Canada Inc., said he’s waiting for data from Statistics
ICE weekly outlook: Canola loses ground, could fall further
CNS Canada — The ICE Futures Canada canola market declined on the week, and those losses are likely to continue, one Winnipeg-based analyst says. “This is going to be dominated by yesterday’s reversal in the canola, and the weather,” said Ken Ball of PI Financial Corp. Canola on Tuesday lost between $8 and $9 in
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