A lack of USDA reports adds an ongoing air of uncertainty
Canola contracts on the ICE Futures platform moved lower during the week ended Jan. 11, nearing major chart support as a number of factors conspired against the commodity. Losses in the Chicago Board of Trade soy complex were a major bearish influence on canola, as uncertainty over Chinese demand and looming South American crops weighed […] Read more
‘Exceptional’ demand in 2018 supported fed cattle prices
Manitoba’s cattle auction yards remained quiet over the week ended Jan. 4, with activity set to start back up at most locations during the first full week of the month. Live cattle futures in Chicago ended 2018 at some of their highest levels of the past year, but subsequently spent the first days of 2019 […] Read more
Trade disputes have added a new layer of unpredictability
A year ago, in an attempt to outsource the first column of 2018, written to meet a pre-Christmas deadline, I turned to computer algorithms for insight. The results were poetic, but largely indecipherable. The point then was that as much as technology can provide benefits, it still takes human knowledge to make sense of the […] Read more
Rising CME live cattle futures have run into resistance
Manitoba cattle auction yards were still keeping busy during the second week of December, as ranchers cleaned out cattle and feedlots looked to fill some pen space. Roughly 5,600 head of cattle were sold in the province during the week ended Dec. 14, well below the 10,000 cattle that moved through the rings the previous […] Read more
New data from StatsCan might (or might not) support canola
ICE Futures canola contracts moved higher during the week ended Dec. 7, although whether that trend continues is questionable. A rally in Chicago Board of Trade soybeans Monday morning (Dec. 3) provided the initial spark for a move higher in canola, as participants reacted to news of a tentative trade truce between the U.S. and […] Read more
Minneapolis, Kansas City and Chicago March wheat futures all rose on the week
Hard red spring wheat bids in Western Canada strengthened during the week ended Nov. 30, as gains in Minneapolis futures and a softer tone in the Canadian dollar helped basis levels improve. Average Canada Western Red Spring (CWRS, 13.5 per cent protein) wheat prices were up $1-$3 per tonne over the course of the week, […] Read more
Early planting in Brazil boosts the soy supply outlook
ICE canola futures touched their lowest levels in more than a year on Nov. 20, but managed to uncover some support to the downside and were relatively steady on the week by Friday, Nov. 23. Activity, however, was thin and choppy, with markets in the U.S. closed for part of the week due to the […] Read more
Feeder prices remain steady as the fall run continues
The fall run remained in full swing at Manitoba cattle auction marts during the week ended Nov. 16, with large volumes and reasonably steady feeder prices at most yards. About 16,500 cattle moved through the rings across the province during the week, with demand coming from all of the usual sources. Feeder steers (600 pounds […] Read more
The remaining four million tonnes of expected production is enough to move markets
Canola contracts on the ICE Futures exchange fell to their lowest levels of the past year during the week ended Oct. 26, as harvest operations across Western Canada finally neared completion. Farmers in both Alberta and Saskatchewan reported good progress during the week, helping ease concerns over unharvested acres being left out over the winter. […] Read more
A later run and shortage of feed may be causing even bigger volumes than usual
Manitoba’s cattle auctions were busy during the week ended Oct. 19, as the fall run hit its full stride. “I think every barn had their biggest sale of the year so far,” said Rick Wright of Heartland Order Buying. While big volumes are normal for this time of year, he said cattle were coming to […] Read more
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