MarketsFarm — ICE Futures canola contracts started the new year on a firm footing, with little sign that the ongoing strength will end anytime soon. “Is canola expensive? Yes, but everything is expensive,” said analyst Mike Jubinville of MarketsFarm. While canola may look overpriced by some metrics, he noted the high prices were necessary to
ICE weekly outlook: Canola strength shows no signs of fading
AAFC adjusts grain, oilseed balance sheets slightly
MarketsFarm –– Updated supply and demand tables from Agriculture and Agri-Food Canada (AAFC), released late Friday, included only minor adjustments to balance sheets for the country’s major crops. The department’s projected ending stocks for wheat and canola were left unchanged from the previous month. Factoring in the official estimates from Statistics Canada, released Dec. 3,
Feed weekly outlook: Bids high, but limited supplies mean little moving
MarketsFarm — Feed grain prices in Western Canada remain at very high levels heading into the New Year, but little is actually trading as feedlots fill up with cheaper corn from the U.S. “The volume trading of Canadian feed grains has dropped significantly,” said Jim Beusekom, of Market Place Commodities at Lethbridge, noting about 80
CBOT weekly outlook: Soybeans, corn enter holiday mode
MarketsFarm — Soybean and corn futures at the Chicago Board of Trade are expected to hold relatively rangebound over the next few weeks, although year-end positioning and thinner holiday volumes could lead to some volatility. General unwinding of spreads and fund profit-taking were weighing on prices in mid-December, Sean Lusk of Walsh Trading in Chicago
USDA expects canola, sunflowers elsewhere to offset Canada’s shortfalls
MarketsFarm –– Good canola and rapeseed crops in Australia and a number of other parts of the world along with large world sunflower seed production should help offset Canada’s smaller-than-expected production somewhat, according to the December oil crops outlook from the U.S. Department of Agriculture. Total global canola/rapeseed production is now forecast by USDA at
ICE weekly outlook: Canola futures still well supported
MarketsFarm — The ICE Futures canola market was showing signs of running into resistance to the upside during the week ended Wednesday, as speculators booked profits on some of their large long positions. The general uptrend, however, remains intact despite the minor correction. While bouts of consolidation were not unexpected, “the trends are still upward
Prairie cash wheat: Bids mixed, watching futures and currency
U.S. wheat futures down on week
MarketsFarm — Wheat bids across Western Canada were mixed during the week ended Thursday, as losses in U.S. futures were countered by the supportive influence of a weaker Canadian dollar. Average Canada Western Red Spring (CWRS, 13.5 per cent protein) wheat prices were up by $5.20-$10.10 per tonne, according to price quotes from a cross-section
Canola futures show signs of peaking
SUPPLIES | Domestic crushers should be the main customer this month
Canola on the ICE Futures platform hit fresh highs in many contract months during the last full week of November, but showed signs of stalling out near the top with the Thanksgiving holiday in the United States leading to some volatility and thin volumes. While the underlying reality of tight supplies, and the need to
Smaller crops likely in StatsCan survey-based report
MarketsFarm — Mindful of the summer drought conditions that seriously cut into crop production across the Prairies, average trade estimates call for downward revisions to Statistics Canada’s already-small forecasts for most crops when the it releases its first survey-based estimates of the marketing year on Friday. While prior reports, in September and August, were compiled
Pulse weekly outlook: Feed peas in short supply
Some feeders substituting soymeal
MarketsFarm — Hot and dry growing conditions cut into Canada’s pea production in 2021-22 — but the quality was relatively good, which means feed peas are in even shorter supply. “Yields were low across the harvest this year, but I’d say quality was quite good on yellow and green peas,” said a feed pea merchant.
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