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
Presidential tweets piled more pressure on soybean values
Canola contracts on the ICE Futures platform hit fresh contract lows every day during the week ended May 3, with little supportive news to slow the drop. The most active July contract lost $14 per tonne over the course of the week, to settle at $432.60 per tonne on May 6. New-crop November lost a […] Read more
Bearish charts and uncertainty over the Chinese market are weighing in
ICE canola futures fell to fresh contract lows during the holiday-shortened week ended April 18, as bearish chart signals weighed on values and the trade dispute between Canada and China showed no signs of improving. Heavy spread trade during the week saw traders roll out of the May contract and into July, which now holds […] Read more
Minneapolis and Kansas City May wheat futures both rose on the week
Western Canadian wheat bids were mixed during the week ended April 12, reacting to activity in U.S. futures and a firmer Canadian dollar, with gains in hard red spring wheat and losses in Prairie spring wheat. Average Canada Western Red Spring (CWRS, 13.5 per cent protein) wheat prices were up by $1-$5 per tonne at […] Read more
China’s block on canola is already baked into the market
ICE Futures canola contracts held reasonably steady during the week ended April 5, hovering above major long-term lows as traders contemplated the lack of Chinese demand and what the trade dispute means going forward. The bearish influence of China shuttering its doors to Canadian canola has been generally factored into the market, with lows possibly […] Read more
Also, the Canadian dollar climbed roughly a quarter-cent on the week
Western Canadian wheat bids posted losses across much of the region during the week ended March 29, with weakness in the Minneapolis futures and gains in the Canadian dollar behind the price activity. Average Canada Western Red Spring (CWRS, 13.5 per cent) wheat prices were steady to down by nearly $10 per tonne, according to […] Read more
Buyers in the U.S. and down east are becoming less of a factor
More winter weather hit parts of southern Manitoba during the week ended March 15, disrupting some cattle auction activity. However, signs of spring were also starting to be felt across the province. While Manitoba may be getting some better weather, “it doesn’t look like Nebraska is,” said Allan Munroe of Killarney Auction Mart. Heavy flooding […] Read more
Traders also have a wary eye on U.S. Midwest weather
Canola futures fell hard during the week ended March 8, hitting their lowest levels in more than two years as concerns over Chinese demand came to the forefront. Over the past few months, rumblings that Chinese demand was waning and Canadian exporters were facing extra hurdles moving canola to the country had been growing louder. […] Read more
U.S. traders remain cautious with no trade deal yet set
ICE Futures canola contracts crashed and burned during the week ended March 1, hitting fresh lows in the front months every day of the week. Concerns over Chinese demand coupled with bearish technical signals accounted for much of the selling pressure. While Canadian political attention was largely on other matters during the week, the simmering […] Read more
World wheat carry-out is expected down from 2017-18 size
ICE canola futures fell to fresh contract lows during the week ended Feb. 22, but did manage to find some support to the downside as values eventually consolidated near the bottom edge of their long-term trading range. The focus in the futures has shifted from the March contract to the May, with intermonth spreading a […] Read more
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