Spring wheat bids in Western Canada were mixed during the week ended Nov. 1, as futures in the United States hit contract lows before bouncing higher and strength in the Canadian dollar cut into basis levels.
Canadian spring wheat bids mixed following choppy U.S. futures
The Canadian dollar was up nearly two-thirds of a cent on its U.S. counterpart
Canola market sees wide range of trade
The U.S. Thanksgiving break moved participants to the sidelines and lowered volume
The ICE Futures canola market traded within a wide range during the week ended Nov 23. Price moves were exaggerated by thin volumes as the United States Thanksgiving holiday saw many participants move to the sidelines. The January canola contract briefly tested its 50-day moving average, settling above the key chart point for the first time in over two months.
Canadian farm cash receipts rise in 2022, but so do inputs
MarketsFarm – Canadian farmers brought in more money in 2022 compared to the previous year, but their expenses were also up resulting in a 7.7 per cent drop in realized net income to $11.8 billion, according to the latest farm income data from Statistics Canada. Data for the first three quarters of 2023 shows another
Learning from the oldies
Expert's Radar: This classic rock song is also a handy reminder of the nature of markets
“What goes up, must come down, spinning wheel gotta go round…” If you had to pay royalties on songs that get stuck in your head, I’d probably need to cut Blood, Sweat and Tears a hefty cheque by now. Following the commodity markets can often feel like riding the painted pony from their 1960s hit. Crude oil West
Grain prices still hang on exports
Expert's Radar: Our wheat export pace is up despite smaller production
Canada is a country whose main exports are hockey players and cold fronts,” according to a quote attributed to former Prime Minister Pierre Elliot Trudeau who jokingly added “our main imports are baseball players and acid rain.” Looking at the current Winnipeg Jets lineup at least, it’s safe to say the trade balance on hockey
CBOT weekly outlook: All eyes in Chicago soybeans, corn looking south
Soybeans have been trending higher over the past few weeks, while corn touched two-year lows
Shifting South American weather forecasts will likely keep the soybean and corn markets at the Chicago Board of Trade on edge over the next few months, as crops in Brazil and Argentina develop.
Interest rates remain of interest to grain traders
Expert's Radar: A rising U.S. dollar may drag on futures
Much of the attention in North American grain and oilseed markets has shifted to production prospects in South America, as wheat fields develop in Argentina and farmers in Brazil work on seeding their next soybean and corn crops. Weather there will be a major factor on traders’ radar over the next few months, but larger financial and geopolitical issues will
Fund traders not looking to lose their shorts
Signs of a corrective bounce exist, but so does a record-high net short
ICE Futures canola contracts lost roughly $150 per tonne over the past two months, as speculators put on large short positions and exaggerated the seasonal harvest pressure. Values hit fresh four-month lows as the calendar flipped to November, but the market was also showing signs of a possible corrective bounce. The most active January contract
Grain traders turn gaze southward
Expert's Radar: Rains have been helpful for Argentina and Australia
Most of the Canadian Prairies were blanketed with snow during the last week of October, which likely had many people dreaming of vacations to warmer climates to the south. With the Canadian harvest all but wrapped up, and the United States in its final stages, the grain markets are also shifting their attention southward. Argentina
Grain market relativity
Expert’s Radar: The difference between contract months may indicate level of demand
On the Prairies, distance between two places can be measured in many ways, and the official unit of kilometres is among the rarest. Grid roads were established every mile well before the introduction of the metric system, while time as a distance measurement is even more common. “It’s about 20 minutes away. Turn left, drive
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