MarketsFarm — The speculative net short position in ICE Futures canola grew during the week ended Tuesday, as fund traders liquidated long positions and opened some new shorts, according to the latest Commitment of Traders (CoT) report compiled by the U.S. Commodity Futures Trading Commission (CFTC). The net managed money short position in ICE Futures
Speculative net short position grows in canola
AAFC raises wheat, canola production estimates
Ending stocks outlook mixed
MarketsFarm — Canadian wheat and canola production are both expected to come in above earlier expectations in updated supply/demand projections from Agriculture and Agri-Food Canada, released Thursday. However, while wheat stocks are also expected to rise, the canola carryout was revised lower due to expected increases in exports and domestic usage. The government agency raised
ICE weekly outlook: Benign weather weighs on canola
MarketsFarm — ICE Futures canola contracts were seeing choppy activity in mid-July but were under pressure overall, closing at their weakest levels in six months on Wednesday. Relatively favourable Prairie weather, speculative long-liquidation, and pressure from outside markets all weighed on values with more losses likely if no weather concerns develop. “The weather looks fairly
Prairie cash wheat: Bids trend lower with U.S. futures
MarketsFarm — Spring wheat bids in Western Canada moved lower during the week ended Friday, as losses in U.S. futures more than countered the supportive influence of the weakening Canadian dollar. Seasonal harvest pressure contributed to the declines, as the U.S. winter wheat harvest progressed northward. Average Canada Western Red Spring (CWRS, 13.5 per cent
Feed weekly outlook: Grains under pressure awaiting new crop
Farmers 'digging in and being patient'
MarketsFarm — Feed grain bids in Western Canada continue to come under pressure, as feedlots chew through corn imports from the United States and wait on the new-crop harvest. “We’re certainly seeing things soften,” said grain trader Shaun Smith of Market Place Commodities in Lethbridge. Declines in the Chicago futures and good Prairie growing conditions
Larger U.S. barley crop expected in 2022
MarketsFarm — Barley production in the U.S. is forecast to be up substantially in 2022, with early indications pointing to the largest crop in seven years. In its latest production estimates, the U.S. Department of Agriculture forecast the country’s 2022 barley crop at 3.8 million tonnes, which would be up from the 2.6 million tonnes
Larger spring wheat crop expected in U.S.
USDA expects reduced total worldwide wheat crop
MarketsFarm — Early indications point to a much larger spring wheat crop in the United States in 2022 compared to the drought-stricken 2021 crop despite the late seeding, according to the latest production estimates from the U.S. Department of Agriculture. In USDA’s first official production estimates of the growing season breaking out the different wheat
Pulse weekly outlook: Pea bids slip as new crop looms
MarketsFarm — Top-end yellow and green pea bids in Western Canada have come down over the past month, as old-crop activity slows down and attention turns to the new crop. While tight supplies after the 2021 drought did not leave too many unpriced peas in the countryside, some farmers likely still waited too late and
Baltic Dry Index at three-month lows
Demand for ocean freight seen backing off
MarketsFarm — Ocean freight rates have come under pressure over the past month as demand for freight backs away, which could be seen as a sign of the slowing global economy. The Baltic Dry Index (BDI), which is a major indicator of shipping rates, settled at 2,081 points on Monday, up 14 points from Friday’s
Canola funds’ position shifts to net short
MarketsFarm — Speculative fund money in ICE Futures canola shifted to a net short position for the first time in two years, according to the latest Commitment 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 677 contracts
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