Aspring snowstorm and holiday shutdowns ahead of the Easter long weekend limited activity at Manitoba’s cattle auction yards during the week ended April 1, but prices — for what moved — were solid. Snow and strong winds led to highway closures across the Prairies on March 29 to 30. “Producers didn’t want to take their
Pre-Easter lull and weather hit cattle market volume
Despite scant supply, prices held up nicely
Canola traders’ attention now turns toward new crop
Upcoming U.S. data could provide some direction in the near term
It’s very hard to know what’s going on,” one trader said of the volatile ICE Futures canola market during the last full trading week of March, as prices were all over the place and a number of rumours circulated in the market. The nearby May contract traded within a $50-per-tonne range during the week, with
Auction action accelerates on warmer spring weather
Buyers Down East are now more current in their cattle purchases
Spring weather kept cattle auction yards across Manitoba busy during the last ‘official’ week of winter, as producers were busy moving animals before pastures green up and attention turns to field work. “It’s been an incredibly busy month all over Manitoba for cattle marketing ever since things warmed up after the cold snap,” said Allan
Fund money moving into corn, canola position steady
The managed money net long position in Chicago Board of Trade corn futures grew to its largest level of the past decade during the week ended March 16, while soybeans and canola only saw slight adjustments and investors reduced their long positions in wheat, according to the latest Commitment of Traders (CoT) report compiled by
Canola trade turns attention to new crop
Any significant bearish threats for canola would come by surprise
Commentary on canola futures may be starting to sound like a broken record, but at least it keeps skipping on a good part of the song. While canola did some profit-taking correction during the second week of March, the general uptrend remained intact and fresh highs were hit in many months during the week. The
Pipestone fire a loss for Manitoba markets
Top-end bids for feeder cattle show signs of coming off
Manitoba’s cattle sector took a hit during the week as a fire destroyed the historic Pipestone Livestock Sales yard in the southwestern corner of the province. The blaze started at around 6:30 p.m. on March 1, with over 80 per cent of the structures and equipment engulfed in flames and destroyed, according to owner Gene
CN Rail sees record grain movement for 12th straight month
Canadian National Railway (CN Rail) continues to move grain and processed grain products at a record pace, according to update data from the company. The firm reported 2.28 million tonnes moved via carload in February coming in seven per cent above the previous record for the month set in 2019. CN has moved over 19.7
Canola’s continuing climb hits profit-taking ceiling
Underlying fundamentals are still supportive of canola values
ICE Futures canola contracts climbed to never-before-seen levels during the last week of February, but the lofty heights proved short lived, with heavy selling pressure when profit-taking finally came forward to weigh on the market. The front-month March contract became a bit of a casino contract, soaring above $800 per tonne as anyone who was
Auction activity recovers as colder spell retreats
Eastern and western feedlots are again shopping for feeder cattle
Temperatures were still cold across Manitoba during the third week of February, but sunny skies and daytime highs in the -20s C, or even the minus teens, were much more welcome at the cattle auctions than the -40s with the wind chill that limited activity the previous week. “We’re getting out of this cold snap
Canola ending stocks still support futures
A seasonal slowdown could be expected in coming months
The ICE Futures canola market saw some large price swings during the second week of February, although the general path of least resistance remained pointed higher as many months set fresh contract highs. The concerns over tightening supplies that have propped up the canola market for months now remained supportive, although a seasonal slowdown could
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