The annual fall cattle run was running at full steam at auction yards across Manitoba during the week ended Oct. 23, with large volumes moving through the rings. However, the big numbers and sharp losses in U.S. cattle futures markets weighed on prices. “We’re in the middle of it now, it’s the busiest month of
Values under pressure on lower-quality cattle
U.S. cattle markets have taken some of the shine off Manitoba’s fall run so far
Crush margin stays wide despite decent canola prices
Watch soybeans for an indication of future market direction
The ICE Futures canola market was strong during the first week of October, but ran into resistance from a chart perspective. The November contract was hard pressed to move above $530 per tonne, despite trading just below the psychological point on a number of occasions. A break above there would set the stage for a
China’s demand for soybeans bodes well for canola values
Provinces’ estimates suggest lower canola yields than what satellites are seeing
ICE Futures canola contracts continued their month-long climb during the week ended Sept. 18, hitting their strongest levels in two years. The November contract moved above $530 per tonne during the week, marking the first time the front-month contract had settled above that point since June 2018. The contract has risen by nearly $50 per
Market for yearlings beating expectations
Cattle producers are generally ‘pleasantly surprised’ by the weather
Activity was slowly picking back up at Manitoba’s cattle auction yards in the days after Labour Day, although the fall run won’t start in earnest until October. Volumes were generally light during the week, with yearlings and butcher cows accounting for much of the activity. Rick Wright of Heartland Order Buying said the cow market was coming under
StatsCan’s data from orbit may keep canola grounded
U.S. soybeans are up on strong export demand and concerns over crop damage
Canola futures hit some of their best levels in two years during the first week of September, but ran into resistance to the upside as investors also contemplated updated data from Statistics Canada. Statistics Canada had two reports out during the week, with production numbers on Aug. 31 and old-crop ending stocks on Sept. 4.
Production estimates for soy, corn crops don’t feed bears
USDA numbers didn’t phase the markets despite rosy production outlook
Relatively bearish production estimates for this year’s soybean and corn crops in the United States did little to weigh on the grain markets, with prices in both crops up considerably in the immediate aftermath of the U.S. Department of Agriculture’s Aug. 12 production report. However, ICE Futures canola lacked much spillover buying interest, as strength in the Canadian
Markets firming for both slaughter and feeder cattle
Reduced placements and a strong slaughter pace are supportive
Slow summer activity continued at the few Manitoba cattle auction yards that held sales during the first week of August. The general trend in the market remained pointed higher, though, as the slaughter backlog caused by the COVID-19 pandemic continued to be worked through. “There are a couple of key drivers,” analyst Anne Wasko of
Canola markets see upside in July
Canola at six-month highs, but upside may be limited
The ICE futures canola market trended higher for all of July and hit its best levels in six months ahead of the calendar flipping to August. However, with the harvest just around the corner, farmer selling may put a damper on the upside. One good news story for canola over the past few months has
ICE weekly outlook: Canola scale-up selling to temper gains
MarketsFarm – ICE Futures canola contracts climbed above chart resistance to hit their highest levels in six-months on July 29. While there is more room to the upside, farmer selling could temper additional gains. Fund traders adding to long positions together with solid export demand, especially from Europe, accounted for much of the recent strength
Managed money backing out of bearish canola bets
MarketsFarm – Fund traders were backing out of bearish bets in canola while actively putting on new longs during the week ended July 21, according to the latest Commitment of Traders (CoT) report compiled by the United States Commodity Futures Trading Commission (CFTC). The net managed money short position in ICE Futures canola came in
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