As Christmas nears, lower volumesand steady prices are expected
Cattle auction yards were still busy across Manitoba during the last week of November, although the fall run is starting to slow down as the holiday season approaches. “We saw volumes a little bit lower than the previous week, and that will be the trend until the end of the selling season,” said Rick Wright, […] Read more
Talk of more trade talks supports Chicago futures
The ICE Futures canola market flatlined during the second week of November, trading within a rather narrow sideways range and showing little incentive to break one way or the other. The steady tone came despite a sizable drop in Chicago Board of Trade (CBOT) soyoil prices, as world vegoil markets backed off nearby highs. Soyoil […] Read more
After a slow and muddy start, auction barns have filled up
Cattle auction yards were busy across Manitoba during the last week of October, with the fall run in full swing. “We’re busy, I think every barn is full (across the province),” said Robin Hill, of Heartland Livestock Services in Virden. “The volumes in Western Canada really cranked up over the past week, and now everybody […] Read more
But that effect on production may have already been digested by the market
Poor harvest weather definitely cut into the size and quality of this year’s Canadian canola crop, with a large percentage still in the fields heading into the end of October. However, that supportive supply-side story may be factored into the futures for the time being, with the market now in need of some fresh demand […] Read more
Weather alone won’t sustain canola’s rally for long
An early winter storm on the western Prairies and persistent cool and wet conditions to the east put the brakes on harvest operations during the first few days of October, with canola futures finding some support on the back of adverse weather. After holding within a sideways trading range for the past three months, the […] Read more
Producers with cull cows may want to sell soon
Numbers moving through Manitoba’s cattle auction yards are starting to pick up ahead of the fall run, with prices holding firm during the last week of September. “We finally saw decent volumes of calves to establish prices,” said Rick Wright of Heartland Order Buying. “Up until now we’ve had really light deliveries and the market […] Read more
Canola remains rangebound as harvest looms
A surprisingly large corn production estimate from the U.S. Department of Agriculture gave North American grain and oilseed markets a jolt during the week ended Aug. 15. Corn and wheat prices fell in response to the updated data, while oilseeds had a more subdued response. After a soggy start to the U.S. growing season, investors […] Read more
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
