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Crops, Markets, Weather

Attention turns to yield potential after StatsCan report

Future tweaks to acreage numbers seen as unlikely to sway markets

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MarketsFarm — Updated acreage estimates from Statistics Canada came largely within market expectations, with the focus now shifting to growing conditions and yield potential. The survey was completed in early June “and may not have captured all of the seeding delays and potential shifts that may have happened in central/northern Alberta and northwestern Saskatchewan because
Crops, Markets

CBOT weekly outlook: Corn, soy in ‘Groundhog Day’ mode ahead of report

Traders expect report to show more U.S. soy acres, less corn area

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MarketsFarm — Soybean and corn futures at the Chicago Board of Trade are biding their time in narrow, rangebound trade, awaiting updated acreage and stocks data from the U.S. Department of Agriculture later in the month. “It’s almost like Groundhog Day,” said Terry Reilly of Futures International in Chicago, referring to the 1993 movie in
Crops, Markets

Little change seen in June’s crop supply/demand tables

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MarketsFarm — Supply/demand estimates for Canada’s major crops saw little change in updated tables released Tuesday from Agriculture and Agri-Food Canada. Acreage estimates from Statistics Canada are due out June 30, and should lead to more sizeable adjustments in subsequent reports. Canola ending stocks were left unchanged at 2.6 million tonnes for the current marketing
Crops, Markets

Fund short position edging down in canola

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MarketsFarm — The managed money net short position in canola saw a slight reduction in mid-June, as speculators covered short positions in the market, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). The net managed money short position in ICE Futures canola came in Tuesday at
Hogs, Livestock, Markets

Hog sector hit hard by pandemic

Market weakness seen likely to push some farmers out of business

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MarketsFarm — COVID-19 has hit the hog sector hard, with the double-edged sword of large supplies and reduced demand weighing heavily on the market. “The prospect of profitability at current forward prices and at current cash prices is nil… and there’s really no prospect of making anything this year,” said Tyler Fulton, director of risk
Crops, Markets

CBOT weekly outlook: Spring wheat premium widening over winter wheat

Row crop futures stuck in sideways range

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MarketsFarm — All eyes remain on weather conditions in U.S. grain and oilseed markets, with soybeans and corn stuck in sideways patterns while seasonal harvest pressure causes the spring wheat premium to widen over the winter wheats. The advancing winter wheat harvest has weighed on Chicago and Kansas City winter wheat contracts recently, with reports
Crops, Markets

Fund traders still bearish on canola

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MarketsFarm — The managed money net short position in canola grew to nearly 50,000 contracts in the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). The net managed money short position in ICE Futures canola came in Tuesday at 48,777 contracts (3,932 long/52,709 short), an increase of about 10,000
Crops, Markets

With beer taps off, malt barley demand down

No significant drop in barley acres expected

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MarketsFarm — Declining beer consumption due to the COVID-19 pandemic will also lead to reduced demand for the malt barley to brew it — but acreage to the crop is unlikely to see much adjustment on the Prairies. “I don’t think there’s any question — without sporting events, and festivals, and concerts – that beer

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