Outlook could change if slow crop development leads to frost damage
Improving crop conditions have weighed on western Canadian feed barley prices over the past month as attention turns from the tight old-crop supply situation to the upcoming harvest. “Prices are dropping every day it rains,” Mike Fleischhauer of Eagle Commodities in Lethbridge, Alta. said last week. He said barley prices have come off by as […] Read more
Improved crop conditions have also contributed to the trend, though corn is still king
Canola contracts on the ICE Futures U.S. platform tested major support levels during the week ended July 19, but managed to hold relatively steady overall to finish the week with slight gains. The November canola contract hit a multi-year contract low of C$437 per tonne on July 5, but has managed to hold above the […] Read more
Uncertainty also continues over U.S. soybean acreage
ICE canola futures fell hard during the week ended July 5, hitting fresh contract lows in the process as improving North American weather conditions weighed on prices and bearish technical signals had speculators adding to their short positions. The canola market was closed Monday for Canada Day while the Chicago futures market was closed on […] Read more
Stronger U.S. corn prices put pressure on cattle futures
Rain showers across much of the province during the week ended June 21 helped take some of the edge off the cattle markets, as concerns over dry pastures dissipated slightly. With the rain in southern Manitoba, “our numbers were probably down by 30 to 40 per cent from the previous week,” said Robin Hill of […] Read more
U.S. seeding delays could lift spring wheat — but not yet
ICE Futures canola contracts moved higher during the week ended June 14, but ran into upside resistance as conflicting influences pulled on the market. Weather concerns, both in the United States and Canada, were a major supportive influence. Excessive moisture across the U.S. Midwest has left many intended corn acres unplanted. Soybeans can go in […] Read more
Trade worries contribute to ongoing market volatility
Recent strength in grain markets has inversely weighed on cattle prices, although activity at Manitoba’s auction yards is slowing down for the season. A number of auctions were closed for the week, and many will soon shut down for the summer or run at reduced capacity. Prices for what was still moving have weakened over […] Read more
Trump’s threat of a trade war with Mexico could be bearish
ICE Futures canola contracts climbed higher during the week ended May 31, as a rally in the Chicago Board of Trade soy complex provided spillover support. The slow pace of spring seeding in the United States catalyzed the rally in Chicago soybean and corn markets, with heavy rains keeping Midwestern farmers off of their fields. […] Read more
Local cattle values are still reasonably steady for now
Activity at Manitoba’s cattle auction yards is slowing down ahead of the summer, with the Victoria Day weekend also limiting some of the activity during the week ended May 24. Prices held reasonably steady for the most part, although outside market influences may keep some caution in the Canadian cattle sector over the next few […] Read more
China trade troubles outweigh concerns about late planting
ICE Futures canola contracts moved higher for most of the week ended May 17 before running into resistance, as the Canadian oilseed reacted to activity in the Chicago soybean complex. The July contract has improved by roughly $20 per tonne off of its early-May lows over the past two weeks, and saw additional strength when […] Read more
MGEX July wheat was up on the week while CBOT and K.C. July wheat slipped
Canada Western Red Spring (CWRS) wheat bids held relatively steady during the week ended May 10, as the Minneapolis futures managed to edge higher on the week despite losses in the Chicago and Kansas City winter wheat markets. Average CWRS (13.5 per cent protein) wheat prices were held within $1 per tonne of unchanged at […] Read more
