CNS Canada –– ICE Futures Canada canola futures chopped around within a narrow range during the week ending Wednesday, but were lower overall as declines in soybeans and Canada’s own ongoing logistics issues weighed on prices. From a chart perspective, CBOT (Chicago Board of Trade) soybeans were nearing trendline support, and a move lower there
ICE weekly outlook: Logistics keep weighing on canola
Oats/corn spread narrows in, as oats rise
CNS Canada — Oats futures at the Chicago Board of Trade are currently at their strongest levels relative to corn since 2006, as Canadian logistics issues have caused nearby oats contracts to jump higher while corn values hold steady. The March oats contract gained US16 cents per bushel on Tuesday to close at US$4.1675, only
Manitoba farmers “kicking tires” on sunflowers
CNSC — Sunflower acreage in Manitoba may be on the rise in 2014, as early pricing opportunities are favourable and farmers are showing an increased interest in alternative cropping options, according to an industry participant. With prices for most grains and oilseeds grown across Western Canada under pressure by large supplies and logistical issues, specialty
Canola crush margins keep getting wider
CNS Canada — Canola crush margins continue to widen to unprecedentedly large levels, highlighting the cheapness of canola seed compared to its worth when processed. 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. As
ICE weekly outlook: Logistics issues weigh on canola
ICE Futures Canada canola contracts declined to fresh lows during the week ended Wednesday, and could be headed lower still as logistics issues in Western Canada continue to weigh on values. The losses in canola came despite a rally in CBOT soybeans and sharp declines in the Canadian dollar relative to its U.S. counterpart. Those
U.S. wheat futures grinding lower
All three U.S. wheat futures markets have moved steadily lower over the past few months and could still have more room to the downside, according to a U.S. analyst. “It’s been a slow grind into the ground,” said Randy Martinson of Progressive Ag in Fargo, N.D. U.S. supplies are about average and are not burdensome,
Canola crush margins very strong
Canola crush margins remain historically strong, with domestic processors estimated to be making large profits given current market factors. 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. As of Tuesday, the canola board crush
Prairie wheat bids holding steady
Western Canadian wheat cash bids held relatively steady during the week ended Jan. 6, with slight increases reported from some elevators and slight declines at others. Average spot bids for CWRS (Canada Western Red Spring, 13.5 per cent protein) across Manitoba, Saskatchewan and Alberta came in Monday at around $164 per tonne, or $4.47 per
Prairie wheat bids stuck in downtrend
Western Canadian wheat cash bids moved lower during the week ended Dec. 23, following losses seen in U.S. futures markets. Basis levels also widened for Canada Western Red Spring (CWRS) and Canada Prairie Spring Red (CPSR) varieties, which contributed to the price weakness. Average spot bids on Monday for CWRS (13.5 per cent protein) across
ICE weekly outlook: Canola trending down
ICE Futures Canada canola contracts dropped sharply lower during the week ended Wednesday, and have more room to the downside as record-large supplies continue to overhang the market and chart signals remain bearish. “Canola has divorced itself from soybeans,” said Jerry Klassen, manager of GAP S.A. Grains and Produits in Winnipeg, noting canola was now
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