Wheat futures rallied on conditions in Montana and North Dakota
Hard red spring wheat bids in Western Canada continued to rise with the rallying U.S. futures during the week ended June 30, as drought conditions in North Dakota and Montana worsened. Depending on the location, average Canada Western Red Spring (CWRS) wheat prices were up $33 to $37 per tonne across the Prairie provinces, according […] Read more
Traders are already second-guessing StatsCan on acres
ICE Futures Canada canola contracts climbed higher over the course of the week ended June 30, hitting their best levels in months, despite large North American oilseed acres confirmed by Statistics Canada and the U.S. Department of Agriculture. Record Canadian canola seedings and a six-million-acre increase in U.S. soybean area would typically be bearish for […] Read more
Traders’ acreage estimates lean toward bearish levels
ICE Futures Canada canola contracts dropped hard during the week ended June 23, hitting some of their lowest levels in months. The biggest losses were in the new-crop months, with improving crop weather and declines in the U.S. soy complex behind some of the selling pressure. The nearby July contract lagged to the downside, as […] Read more
A stronger loonie during the week accounted for a decline in basis levels
Hard red spring wheat bids in Western Canada continued to rise with U.S. futures during the week ended June 16, as hot and dry conditions in the major wheat-growing regions of the Dakotas and Montana floated all boats. Depending on the location, average Canada Western Red Spring (CWRS) wheat prices were up by $7-$10 per […] Read more
Conditions in major spring wheat-growing regions boosted MGEX wheat futures
Hard red spring wheat bids in Western Canada climbed higher during the week ended June 9, as hot and dry conditions in some of the major spring wheat-growing regions of the U.S. and Canada led to a rally in the Minneapolis futures. Depending on the location, average Canada Western Red Spring (CWRS) wheat prices were […] Read more
Soy futures outweigh canola market fundamentals, for now
ICE Futures Canada canola contracts fell hard over the course of the week ended June 2, as fund selling and losses in Chicago soybeans weighed on values. Speculators bailing out of long positions and putting on short positions in some cases were a feature of the activity during the week, with chart stops hit on […] Read more
USDA’s latest Cattle on Feed numbers will be bearish
The Victoria Day long weekend limited activity at Manitoba’s cattle auction yards during the week ended May 26, but the market was steady for the animals that still moved. “I didn’t see any change from the previous week. Everything was fully steady on the feeder cattle,” said Robin Hill of Heartland Livestock Services at Virden. […] Read more
Manitoba is furthest ahead in Prairie spring seeding
ICE Futures Canada canola contracts held rangebound for most of the week ended May 19, but trended lower overall as larger losses in the Chicago soy complex put some pressure on values. Crop reports put out by all three Prairie provinces during the week showed a mixed bag when it comes to seeding progress. Manitoba […] Read more
Last fall’s canola could become this spring’s problem
ICE Futures Canada canola contracts ran into upside resistance during the week ended May 12, as the commodity’s own supportive fundamentals were countered by the much more bearish outlook for U.S. soybeans. Canadian canola supplies are looking rather tight, with Statistics Canada showing only 6.6 million tonnes in the country as of March 31. That’s […] Read more
Average prices for CWRS wheat ran around $232 per tonne in western Manitoba
Hard red spring wheat bids in Western Canada saw volatile action during the week ended May 5, ultimately ending mixed in the face of competing influences. Depending on the location, average Canada Western Red Spring (CWRS) wheat prices were down by as much as $1.75 to up $2.25 per tonne across the Prairie provinces, according […] Read more
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