Trade in milling wheat, durum, and barley contracts on the ICE Futures Canada platform remains slow, but officials at the Winnipeg-based arm of IntercontinentalExchange remain confident liquidity will build in the new contracts over the next few months, as the cash market also takes shape. Legislation passed by the Canadian government in December 2011, ending
ICE’s grain futures waiting on cash market
Canola’s highs appear to be in for the summer
ICE Futures Canada canola contracts bounced around during the week ended May 25, initially posting declines before climbing back to finish with small gains in most months by Friday. The bounce on Friday could be seen as supportive from a technical standpoint, but the general consensus right now seems to be that the highs are
More volatility likely from expanded trading hours
ICE Futures Canada canola moved higher in most months during the week ended May 18, initially dropping lower with long liquidation before bouncing back up on the back of solid end-user demand. Tight old-crop supplies and continued exporter pricing are expected to keep the front-month July contract supported going forward, but it should eventually drift
Seasonal downturn to weigh on Alta. feed barley
The relatively stable feed barley market in southern Alberta is starting to show signs of softening, as seasonal market factors cause demand to back away. The market is still working to ration the old crop until the new crop arrives, said Allen Pirness, a feed grains trader with Market Place Commodities in Lethbridge. However, now
New Minnesota canola crusher starts up
Manitoba canola growers have one more place to sell their product, as a crushing facility just south of the U.S. border begins ramping up operations. The Northstar Agri Industries plant at Hallock, Minn., about 130 km south of Winnipeg, started processing canola on May 18, and will run through mid-July at a reduced capacity to
Declining oats futures take cash bids down
Sharp declines in oats futures at the CBOT (Chicago Board of Trade) over the past week are largely the result of speculative selling, but cash bids in Western Canada are also drifting lower. Speculative fund traders were holding large net long positions in oats, which they’ve been liquidating recently, said oats merchant Ryan McKnight of
Prices for cattle moving through Manitoba’s auction yards held relatively steady during the week ended May 11, although plainer animals were discounted in some cases. Volumes were on the light side, which accounted for the firmness as buyers were fighting over a smaller pool of animals. Heartland Livestock Services in Virden saw the most activity
West’s hog herd expansion unlikely for now
The prospect of cheaper feed grain costs is unlikely to lead to hog herd expansion in Western Canada, as tight margins and a moratorium on new hog barns in Manitoba should limit the interest in growing the sector. Expectations for a large U.S. corn crop have led to ideas that the resulting decline in feed
Second- and third-cut cattle heading into system
Cattle traffic through Manitoba auction yards was slowing down during the week ended May 4, as spring field work starts to take precedence over marketing and a number of auction yards moved to reduced schedules. From a pricing standpoint, activity was steady overall. However, on a case-by-case basis, the markets were more mixed, with some
Forecasts call for record acres seeded to canola
Old-crop canola contracts climbed to new highs on the ICE Futures Canada platform during the week ended April 27, as the tight supply situation in Western Canada provided underlying support. Commercials were also scrambling to cover their short positions rather than be forced to make deliveries on the nearby May contract before it comes off
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