CNS Canada –– ICE Futures Canada canola contracts moved higher during the week ended Wednesday, with the biggest gains in the new-crop months as concerns over planting delays in parts of Western Canada provided some support and the spreads narrowed in. However, canola may be running into resistance to the upside, according to market participants.
ICE weekly outlook: Canola nearing resistance
Prairie winter wheat in good shape, analyst says
CNS Canada — Winter wheat crops across Western Canada are generally in good shape, according to a CWB analyst, although the lateness of the spring thaw will also push back the harvest in many areas. “The winter wheat is in reasonably good shape,” said Bruce Burnett, a CWB weather and crops specialist. Emergence and moisture
Canola crush margins easing
CNS Canada — Canadian canola crush margins are finally starting to ease into more traditional levels, after hitting their highest prices ever over the winter months. Crush margins provide an indication of the profitability of the product values relative to the seed cost when processing canola, with exchange rates also factoring in to the equation.
Higher bacon prices still to come, analyst says
CNS Canada — Rising pork prices and shrinking bacon packages have made headlines across Canada recently — but consumers should prepare to spend even more for bacon over the next few months, as processors between the farmer and the grocery store are still seen to be losing money. Western Canadian hog producers are currently experiencing
ICE weekly outlook: Canola rangebound, watching weather
CNS Canada — ICE Futures Canada canola contracts moved lower during the week ended Wednesday, as the market retreated from nearby highs. However, canola is lacking any clear direction for the time being and is expected to remain rangebound overall until some fresh fundamental news comes forward. “The market is in a ‘wait and see’
U.S. wheat futures still rising, but ‘getting tired’
CNS Canada –– All three U.S. futures markets climbed higher over the past week, rising to some of their best levels of the year. There is some more room to the upside, but further gains may be short-lived, according to an analyst. “Wheat is getting tired,” said Randy Martinson of Progressive Ag at Fargo, N.D.
StatsCan canola area intentions come in below expectations
CNS Canada — Canadian farmers intend to seed less canola than most industry participants had anticipated this year, according to the first survey-based estimates from Statistics Canada, released Thursday. However, adjustments to actual seedings are still possible, as spring seeding has yet to begin across Western Canada. StatsCan pegged canola area at 19.8 million acres,
ICE weekly outlook: Canola down, but still watching beans
CNS Canada — ICE Futures Canada canola contracts moved lower during the week ended Wednesday, hitting their softest levels in a month as bearish technical signals and increased farmer selling weighed on values. While the technical bias has turned lower, the Canadian market could still find some spillover strength from the CBOT soy complex, according
Less wheat, more canola expected in Canada
CNS Canada — Canadian farmers are expected to seed less wheat and more canola in 2014, according to average trade guesses ahead of Statistics Canada’s planting intentions report due out Thursday. “Compared to last year, we’ll see less wheat,” said Jon Driedger of FarmLink Marketing in Winnipeg, estimating spring wheat area could be down by
CWRS wheat cash bids edge down, basis steady
CNS Canada –– Cash bids for Canada Western Red Spring (CWRS) wheat held relatively steady during the week ended Monday, posting small losses in many locations in sympathy with the Minneapolis futures. Average spot bids for CWRS (13.5 per cent protein) across Manitoba, Saskatchewan and Alberta came in at around $197 per tonne, or $5.35