MarketsFarm — Hot and dry weather conditions cutting into crop ratings for soybeans and corn in the U.S. could see prices for both crops rise above nearby chart resistance levels, although the looming harvest may temper the upside potential. Both soybeans and corn were rated 53 per cent good-to-excellent in the latest weekly crop report
CBOT weekly outlook: Poor crop ratings keep soy, corn supported
Major changes not expected in next WASDE
Pulse weekly outlook: Poor monsoon rains cut into India production
Canadian crops also expected lower
MarketsFarm — Disappointing monsoon rains in India this year are expected to cut into the country’s pulse production, according to reports out of the country. Crop production in India is highly dependent on the monsoon rains that typically soak the country from June through September, but the moisture to date was about nine per cent
Fund long position edges higher in canola
Net long in CBOT soybeans down on week
MarketsFarm — The managed money long position in canola edged slightly higher during the week ended Aug. 29, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As of Aug. 29, 2023, the net managed money long position in canola futures came in at 13,904 contracts (41,949 long,
Prairie cash wheat: Spring wheat bids drop with U.S. futures
Crop concerns supportive for durum
MarketsFarm — Spring wheat bids in Western Canada fell in sympathy with U.S. futures during the week ended Thursday, although durum climbed higher on the back of production concerns in key durum-growing areas of southern Saskatchewan. Average Canada Western Red Spring (CWRS, 13.5 per cent protein) wheat prices were down by $7.60-$9.70 per tonne across
Feed weekly outlook: Market steady in face of harvest, U.S. corn imports
Imports weigh on domestic barley values
MarketsFarm — The feed grain market in Western Canada is holding reasonably steady as harvest operations progress and corn imports continue to come up from the United States. Anecdotal harvest reports were varied so far, with surprisingly positive results from some growers and others who missed out on showers ending up with lower yields, according
ICE weekly outlook: Canola enters volatile harvest period
Outside veg oil markets limit the downside
MarketsFarm — The looming harvest may keep a lid on the upside in the ICE Futures canola market over the next month as participants wait to get a better handle on the size of this year’s crop. “We’re still at the mercy of trying to determine what size of crop we have,” said MarketsFarm Pro
Pulse weekly outlook: Chickpea market neither bullish nor bearish
Market players awaiting harvest
MarketsFarm — Hot and dry growing conditions earlier in the growing season cut into Canada’s chickpea yields in 2023-24, but quality should be good if the weather co-operates through the harvest. Canadian farmers planted 315,600 acres of chickpeas in 2023, which was well above the 233,800 acres seeded the previous year, according to Statistics Canada
Fund long position holds steady in canola
Net long in CBOT soybeans down on week
MarketsFarm — The managed money long position in canola held relatively steady during the week ended Aug. 8, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As of Aug. 8, the net managed money long position in canola futures came in at 23,753 contracts (49,339 long, 25,856
ICE weekly outlook: Canola prices ‘cheap’ but rangebound
Trade also watching U.S. soy complex
MarketsFarm — ICE Futures canola contracts held relatively rangebound during the week ended Wednesday, in choppy activity as traders wait to get a clearer picture on the size of this year’s crop. “Overall, canola is relatively cheap,” said Ken Ball of PI Financial in Winnipeg. He pointed to wide crush margins — over $200 per
Fund position flips to net long in canola
The last time the market was showing a net long position was the first week of January
MarketsFarm – The managed money position in canola flipped from a net short to a net long for the first time in six months during the week ended July 18, as fund traders covered short positions and put on new bullish bets, according to the latest Commitments of Traders report from the United States Commodity
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