Choppy trade with no real clear direction became the major storyline in the ICE Futures canola market heading into the end of 2022, as investors squared positions and looked to book profits. That’s normal for this time of year as participants head to the sidelines ahead of the holidays, but there are several factors to
Canola trade keeps eye on South America’s weather
Canola continues to fluctuate within its $800-$900 trench
Local interest and Ontario demand fuel cattle feeder market
Bred cows going to slaughter doesn’t bode well for future of sector
Feeder cattle markets in Manitoba looked strong in early December as the fall run slowed ahead of the holidays. “This week the market was very aggressive on the feeder cattle … with lots of local interest and strong demand from Ontario,” said Rick Wright of Heartland Order Buying on Dec. 8. He said some cattle
Demand from China remains wild card in canola market
Canola values are near the low end of their current well-entrenched range
ICE Futures canola contracts moved steadily lower during the week ended Nov. 24, falling to their weakest levels in two months and nearing the bottom edge of their well-established sideways trading range. With numerous supportive factors underneath the market, a case could easily be made that canola is due for a correction higher. What could
Black Sea tensions spur market volatility
Geopolitical concerns arise in a relatively quiet period for market fundamentals
North American grain and oilseed markets saw wide price swings during the week ended Nov. 17. A barrage of conflicting news regarding the long-running conflict in Ukraine was at the forefront. The week started amid talk that Russia was considering backing away from the agreement allowing Ukrainian grain shipments through the Black Sea. Any disruption
Cattle prices steady as fall run in full swing
Increase in bred cattle sales noted as producers exit industry
The fall run was in full swing across Manitoba’s cattle auction yards during the week ended Nov. 10. Prices held reasonably steady for feeder cattle but butcher cows came under pressure. Top end butcher cows have lost roughly $10 per hundredweight over the past month, and the seasonal increase in numbers coming to market is
China top destination for Canadian wheat through two months
MarketsFarm – China was the main destination for Canadian wheat through the first two months of the 2022/23 (Aug/Jul) marketing year, according to the latest trade data from Statistics Canada. Canada exported 534,000 tonnes of wheat to China in August and September, accounting for about 20 per cent of Canada’s total wheat exports-to-date. Japan, Bangladesh
Feed weekly outlook: Tight logistics underpinning Prairie feed market
MarketsFarm – Canada’s barley crop may have improved considerably in 2022 compared to 2021’s drought-stricken crop, but the logistics of getting that grain to Alberta’s feedlot alley are keeping prices well supported. Canada grew 9.4 million tonnes of barley during the 2022 growing season, which was up by 35 per cent from the previous year.
Canola futures bouncing around, not breaking out
Latin American weather and Ukrainian uncertainty both add volatility
The ICE Futures canola market bounced around within a sideways range during the last full trading week of October, with the futures hard-pressed to break one way or the other. The nearby November contract climbed sharply higher at one point, but volumes were thin in the front month as open interest dwindled and lack of
Manitoba nets average crops in 2022 after wet spring
MarketsFarm – Wet spring conditions delayed seeding operations across much of Manitoba to start the 2022 growing season, but warm summer conditions allowed for good development with yields for most crops showing a marked improvement over the drought-stricken 2021 harvest, according to the final crop report of the season from Manitoba Agriculture. On a crop-by-crop
Green peas regain premium over yellows
MarketsFarm – Solid demand and tighter supplies have seen green pea bids regain a premium over yellow peas in Western Canada, although the market for both varieties remains solid overall. Green peas historically trade at premium to yellow peas due to higher quality specs and concerns over bleaching, but increased domestic demand for yellow peas
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