MarketsFarm — An extension of zero-rate tariffs on lentils moving into India for another year should be a clear sign that the country is in the market for imports. However, Canadian lentil sales to India face stiff competition, with a large Australian crop likely to limit movement going forward. India announced at the end of
Pulse weekly outlook: India looking for lentils, large Australian crop in play
India extends zero-rate tariff
Spec short position grows in canola
Managed money net long in soy, corn
MarketsFarm — Speculators were busy adding to their growing net short position in canola during the week ended Jan. 24, according to the latest Commitments of Traders (CoT) report compiled by the U.S. Commodity Futures Trading Commission (CFTC). The net managed money short position in ICE Futures canola came in at 32,625 contracts on Jan.
ICE weekly outlook: Canola trading window lowered
A crude oil downturn would pressure canola, loonie
MarketsFarm — The ICE Futures canola market posted steady losses for five sessions, testing the lower edge of their well-established trading ranges before finally uncovering some support on Wednesday. The losses did damage from a chart perspective, with the activity bumping the trading window lower, according to an analyst. “Overall, both on old- and new-crop,
CBOT weekly outlook: Soy, corn markets’ eyes on South America
Wheat market remains sensitive to Ukraine news
MarketsFarm — Soybean and corn futures at the Chicago Board of Trade were boosted by last Thursday’s bullish supply/demand estimates from the U.S. Department of Agriculture, but attention has since shifted back to South American growing conditions. “The primary thing right now is South American weather,” said market analyst Tom Lilja of Progressive Ag at
Fund traders flip back to short side on canola
Corn traders reduce net long position
MarketsFarm — After briefly holding a net long position to start the New Year, speculators were back holding a net short position in canola in the second week of January as they liquidated long positions and put on some new bearish bets. The latest Commitments of Traders (CoT) report compiled by the U.S. Commodity Futures
Prairie cash wheat: Bids dip as loonie soars
Chicago, K.C. wheats down on week
MarketsFarm — Spring wheat bids in Western Canada moved lower during the week ended Thursday as a sharp gain in the Canadian dollar relative to its U.S. counterpart cut into basis levels. The currency was up by roughly a penny on the week, settling Thursday at its highest level in seven weeks at 74.75 U.S.
Ocean freight rates falling
Baltic index at lowest since mid-2020
MarketsFarm — Ocean freight rates are under pressure to start 2023, with the Baltic Dry Index (BDI) dipping to its lowest level since June 2020 as poor demand for vessels weighed on values. A seasonal slowdown of cargo movement ahead of the Chinese New Year was seen as contributing to the latest softness, despite easing
Feed weekly outlook: Corn imports still weigh on domestic feed market
MarketsFarm — Ample corn imports from the U.S. continue to keep the western Canadian feed grain market under pressure, with barley bids in Lethbridge trending lower through the early days of 2023. “We started the year with cash barley trading at roughly $450 (per tonne) in Lethbridge, it’s since declined to roughly $435,” said Jim
Pulse weekly outlook: New-crop green lentil bids in line with year ago
MarketsFarm — New-crop lentil bids are starting to become available in Western Canada, with early pricing indications for green lentils not that far off the levels seen at the same time a year ago. New-crop pricing for large green lentils delivered to the elevator in the fall of 2023 can currently be found in the
Fund traders back on the long side in canola
Net long also extended in CBOT corn, soy
MarketsFarm — Speculators in ICE canola moved back to a net long position in the futures to start the New Year, according to the latest Commitment of Traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). The net managed money long position in ICE Futures canola came in at 6,805 contracts on Jan.
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