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A Chinese ship is loaded with soybeans at Port of Santos May 19, 2015.
Grain Markets, Markets

Domestic and export demand support canola

Guided by bullish chart signals, speculators are adding to their long positions

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ICE canola futures kept climbing during the week ended Nov. 20, hitting multi-year highs and showing no signs of slowing the uptrend. Aside from a brief blip on the charts in 2017, when the July contract was expiring, the nearby canola market has not traded above $550 per tonne for any extended period of time since 2013. January canola first settled
Feedlots within Manitoba are loading up on feeder cattle during this year’s fall run.
Livestock Markets, Markets

Values under pressure on lower-quality cattle

U.S. cattle markets have taken some of the shine off Manitoba’s fall run so far

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The annual fall cattle run was running at full steam at auction yards across Manitoba during the week ended Oct. 23, with large volumes moving through the rings. However, the big numbers and sharp losses in U.S. cattle futures markets weighed on prices. “We’re in the middle of it now, it’s the busiest month of
Grain Markets, Markets

Crush margin stays wide despite decent canola prices

Watch soybeans for an indication of future market direction

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The ICE Futures canola market was strong during the first week of October, but ran into resistance from a chart perspective. The November contract was hard pressed to move above $530 per tonne, despite trading just below the psychological point on a number of occasions. A break above there would set the stage for a
China’s interest in buying soybeans, particularly from Brazil and the U.S., has recently helped push soy futures above US$10 and in turn lifted ICE November canola.
Grain Markets, Markets

China’s demand for soybeans bodes well for canola values

Provinces’ estimates suggest lower canola yields than what satellites are seeing

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ICE Futures canola contracts continued their month-long climb during the week ended Sept. 18, hitting their strongest levels in two years. The November contract moved above $530 per tonne during the week, marking the first time the front-month contract had settled above that point since June 2018. The contract has risen by nearly $50 per
Manitoba’s cattle producers aren’t in a serious rush to move cattle off pasture against other work such as harvesting.
Livestock Markets, Markets

Market for yearlings beating expectations

Cattle producers are generally ‘pleasantly surprised’ by the weather

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Activity was slowly picking back up at Manitoba’s cattle auction yards in the days after Labour Day, although the fall run won’t start in earnest until October. Volumes were generally light during the week, with yearlings and butcher cows accounting for much of the activity. Rick Wright of Heartland Order Buying said the cow market was coming under
StatsCan opted for satellite imagery and computer modelling to compile its latest estimates on Canadian crop production.
Grain Markets, Markets

StatsCan’s data from orbit may keep canola grounded

U.S. soybeans are up on strong export demand and concerns over crop damage

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Canola futures hit some of their best levels in two years during the first week of September, but ran into resistance to the upside as investors also contemplated updated data from Statistics Canada. Statistics Canada had two reports out during the week, with production numbers on Aug. 31 and old-crop ending stocks on Sept. 4.
A large canola crop appears to be on the horizon, causing the market to retrench.
Grain Markets, Markets

Production estimates for soy, corn crops don’t feed bears

USDA numbers didn’t phase the markets despite rosy production outlook

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Relatively bearish production estimates for this year’s soybean and corn crops in the United States did little to weigh on the grain markets, with prices in both crops up considerably in the immediate aftermath of the U.S. Department of Agriculture’s Aug. 12 production report. However, ICE Futures canola lacked much spillover buying interest, as strength in the Canadian
Livestock Markets, Markets

Markets firming for both slaughter and feeder cattle

Reduced placements and a strong slaughter pace are supportive

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Slow summer activity continued at the few Manitoba cattle auction yards that held sales during the first week of August. The general trend in the market remained pointed higher, though, as the slaughter backlog caused by the COVID-19 pandemic continued to be worked through. “There are a couple of key drivers,” analyst Anne Wasko of
Grain Markets, Markets

Canola markets see upside in July

Canola at six-month highs, but upside may be limited

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The ICE futures canola market trended higher for all of July and hit its best levels in six months ahead of the calendar flipping to August. However, with the harvest just around the corner, farmer selling may put a damper on the upside. One good news story for canola over the past few months has

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