Harvest operations are wrapping up across the Prairies and attention in grain markets is turning to outside influences. Exports Canadian canola exports were running at a solid pace through the first 10 weeks of the 2023-24 marketing year, but that pace will be hard to maintain. Production was down on the year and more of
Canada’s grain exports remain brisk
Export's Radar: Any unrest in the Middle East will sway energy and financial markets
U.S. estimates bullish in corn, oilseeds
A rally in Chicago soy helped canola correct higher
The ICE Futures canola market tested major support levels in early October, nearing the psychological $700 per tonne level in the nearby November contract on several occasions but never dipping below that point. An eventual rally in the Chicago soy complex provided the catalyst for a more definitive correction off that low. The U.S. Department
Canola futures sit on the couch
Expert's Radar: Wheat responds to escalating hostilities
My step-counting watch is very good at reminding me to get up and move if I haven’t taken at least 250 steps in the past hour. That subtle vibration is usually enough to get me out of my chair to stretch my legs, although I sometimes miss the reminder. Agricultural futures rarely have a problem
Speculators bet against canola
Support is drawn from declines in farmer selling
The ICE Futures canola market held within a narrow trading range during the first week of October, testing downside support on several occasions as seasonal harvest pressure wound down, but the market lacked any spark to move higher. November canola found major support around $710 per tonne. Any attempts to break lower quickly ran out
Prices may react to snarled supply lines
Expert's Radar: Dry conditions limit loads on major waterways
Seasonal harvest operations will soon be winding down across Western Canada, with the soybean and corn crops in the U.S. Midwest not too far behind. How easily that grain flows out of the countryside can have a major influence on prices, especially if export demand is curtailed. Mississippi River An estimated 60 per cent of
Canola markets sag, then recover
Pace of canola exports slows, wheat markets reflect stock cuts
ICE Futures canola contracts hit their weakest levels in two months in early September but eventually managed to uncover support and move off those lows, despite ongoing seasonal harvest pressure. Statistics Canada released its second model-based production estimates for the 2023-24 crop on Sept. 14, pegging the country’s canola production at 17.4 million tonnes. That was down by about
Last year’s supplies can come in handy
Expert's Radar: Dry conditions may lift wheat protein levels
The back-to-school season is a time of beginnings as kids return to classes with new shoes and fresh haircuts, but also a time of endings as the carefree days of summer vacation are replaced by bells and schedules once again. On a last-minute trip to restock on paper and pens, I found someone’s lengthy list
Harvest watch continues
Expert’s Radar: After an extremely variable growing season, nobody’s quite sure where production will be
Harvest is ongoing just about everywhere — the three oak trees on my front yard grew a good crop of acorns this year, with the pitter-patter of falling acorns and chirping of squirrels becoming a near constant sound. The sheer number of squirrels scrambling to bring food for the winter is impressive to say the
Cattle markets gearing up for fall
Buyers to the east and west all want Manitoba cattle
Manitoba cattle auctions are gearing up for a busy fall run, with most yards around the province set to start holding regular auctions before the end of August. Prices remain historically strong, which should be bringing in some yearlings earlier than normal. Given the current market conditions, it makes economic sense to start getting the
Wheat-driven buzz
Expert’s Radar: Other nations’ output may sway prices at home
While cleaning out the eavestroughs the other day, I unwittingly disturbed a hidden wasp nest, resulting in at least half a dozen stings on my hands and face. The pain eventually subsided but dealing with the nest turned out to be a bit more difficult than expected as they had found a crack between the
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