CNS Canada — Durum bids in Western Canada are showing strength relative to other wheat classes, with premiums for higher-quality supplies expected to remain in place or widen as the industry awaits Canada’s crop. Canada’s 2014-15 durum crop is estimated at 4.9 million tonnes by Statistics Canada, which compares with 6.5 million the previous year.
European quality issues support Prairie durum bids
StatsCan confirms small crops, but reaction subdued
CNS Canada — Canada’s grain and oilseed production will be much smaller than the record crops of 2013-14, according to survey results Statistics Canada released Thursday — but a lack of reaction in futures markets was seen as a sign that the trade is already looking beyond the report. “All of the numbers came in
Further losses likely for falling spring wheat futures
CNS Canada — Spring wheat futures at the Minneapolis Grain Exchange hit fresh contract lows over the past week, and are seen as likely to have more room to the downside as North America’s spring wheat harvest is just getting started. However, the Chicago and Kansas City winter wheat contracts are due for a post-harvest
ICE weekly outlook: Canola rangebound, awaiting news
CNS Canada — ICE Futures Canada canola contracts moved lower during the week ended Wednesday, but were still holding rangebound overall as market participants continue to try and get a better handle on the size of this year’s crop. Statistics Canada releases its first survey-based production estimates for the 2014 canola crop on Aug. 21,
Improving basis boosts Prairie wheat bids
CNS Canada — Average bids for Canada Western Red Spring (CWRS) and Canada Prairie Spring Red (CPSR) wheat were stronger during the week ended Monday, as improving basis levels more than compensated for declines in U.S. futures. Average spot bids for CWRS (13.5 per cent protein) across Manitoba, Saskatchewan and Alberta came in Monday at
Ag Canada tightens grain/oilseed stocks projections
CNS — Ending stocks of Canada’s major grains and oilseeds at the close of the upcoming 2014/15 (Jul/Nov) crop year will be tighter than earlier projections, according to updated supply/demand tables released by Agriculture and Agri-Food Canada’s market analysis branch on July 22. The latest tables take into account the latest acreage estimates released by
Canadian wheat bids mixed despite continued U.S. losses
Average bids for Canadian Western Red Spring (CWRS) wheat weakened slightly during week ended July 21 at a cross section of delivery points across Western Canada. However, Canadian bids lagged the U.S. futures to the downside and basis improvements were seen at many locations. On July 21, average spot bids for 13.5% CWRS across Manitoba,
Low ocean freight rates aid North American grain exports
CNS — The Baltic Dry Index, which tracks global ocean shipping rates, is currently trading at its weakest levels of the past year. The declining cost of ocean freight makes North American grain and oilseed exports more competitive into international markets. The Baltic Dry Index (BDI) was quoted at 755 points on July 16, which
ICE Canada weekly outlook: canola ‘edgy,’ watching weather
ICE Futures Canada canola contracts dropped to their lowest levels in five months at one point during the week ended July 16, but managed to post small gains overall as traders continue to try and get a handle on the extent of the crop losses in Western Canada. CNS — Declines in CBOT soybeans accounted
Funds holding large short position in canola
CNS Canada — Fund traders have steadily added to their large short positions in canola in recent weeks, with trade estimates placing the net position at about 20,000 in the November contract. “Funds are short canola and will stay short canola until we see a significant bounce back, and I don’t see that coming any
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