CNS Canada — ICE Futures Canada canola contracts posted solid gains during the week ended Wednesday, despite the release of a relatively bearish Statistics Canada production report during the period. StatsCan pegged the country’s 2014-15 canola crop at 15.5 million tonnes — about 1.5 million tonnes above earlier guesses and well above average pre-report trade
ICE weekly outlook: Canola up, watching beans
Strong hog sector facing uncertain 2015
CNS Canada — Western Canadian hog farmers are facing an uncertain future from a marketing perspective heading into 2015, with a number of factors on both the supply and demand sides of the equation that could swing prices one way or the other. “After a very profitable 2014… we’re at pivot point,” said Tyler Fulton,
Prairie CWRS wheat bids edge down
CNS Canada — Average cash bids for Canada Western Red Spring (CWRS) wheat moved lower during the week ended Friday, despite a firmer tone in U.S. futures as basis levels slipped slightly. In Manitoba, the average CWRS price declined to C$234 per tonne, from $236 the previous week. Average losses of $1 to $5 per
Larger Canadian wheat, canola crops beat expectations
CNS Canada — Canada’s 2014-15 wheat and canola crops both ended up considerably larger than early guesses, according to updated production estimates released Thursday by Statistics Canada. Production, however, was still well below the record levels seen the previous year. After the canola crop was pegged at 14.08 million tonnes in StatsCan’s October report, average
Return to ‘normal’ ice conditions expected for Great Lakes
CNS Canada — After record ice levels kept shipping lanes on the Great Lakes closed longer than normal during the 2013-14 winter, a return to more normal ice conditions is in the forecasts for 2014-15, according to data compiled by the North American Ice Service and released Wednesday. “Right now, we’re looking at a near-normal
ICE weekly outlook: Canola looking bearish with soybeans
CNS Canada — ICE Futures Canada canola contracts moved lower during the week ended Wednesday, as bearish technical signals, declines in the outside crude oil market and losses in CBOT soybeans weighed on values. While a short-covering correction is possible in the near-term, the longer-term direction will continue to be dictated by soybeans. The nearby
Upward revisions expected in StatsCan report
CNS Canada –– Canada’s major agricultural crops likely yielded a bit better than earlier estimates, and most industry participants anticipate Statistics Canada’s production numbers will be revised higher in a report due out Thursday. However, the extent of those adjustments could be limited. “The (production) numbers will probably go up for all commodities… wheat, durum,
CWRS wheat bids rise with U.S. futures
CNS Canada — Average cash bids for Canada Western Red Spring (CWRS) wheat moved higher during the week ended Friday, as a rally in the U.S. futures provided some support. In Manitoba, the average CWRS price rose to $236 per tonne, from $232 per tonne the previous week. Average gains of $5 to $10 per
Hidden stocks keep canaryseed rangebound
CNS Canada –– The visible supply-and-demand fundamentals for canaryseed in Western Canada may appear tight — but actual price activity may say otherwise. Canada’s 2014 canaryseed crop was estimated at 138,800 tonnes by Statistics Canada in its October report, which compares with the 131,000 tonnes grown in 2013. The government agency has not released recent
Oats prices drop to two-and-a-half-year lows
CNS Canada –– Oats prices at the Chicago Board of Trade dropped to their weakest levels in two-and-a-half years over the past week, and cash bids in Western Canada have followed suit. While the largely speculative price drop could bring in more bargain-hunting demand, both end-users and farmers have moved to the sidelines for the
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