MarketsFarm — Monthly supply/demand data from the U.S. Department of Agriculture were supportive for soybean prices but bearish for corn and wheat, with adjustments to yields and harvested acres providing a number of surprises. Corn futures saw the largest immediate reaction at the Chicago Board of Trade, as average yields were unexpectedly raised to 168.4
Grains drop, soy firm following WASDE report
Feed weekly outlook: Prairie grain market finding a bottom
MarketsFarm — The western Canadian feed grain market is showing signs of finding a bottom, as buyers wait to get a better handle on the quality of grain still unharvested across the Prairies. Feed barley is currently trading at around $200 per tonne in southern Alberta, while feed wheat bids are around $210, according to
Late North American durum faces quality downgrades
MarketsFarm — Cool and wet conditions delaying harvest operations across North America’s durum-growing regions are cutting into the quality of the crop in both the U.S. and Canada, with widening price spreads likely going forward. “It’s been a challenging harvest,” said Erica Olson, marketing specialist with the North Dakota Wheat Commission. “We did have some
Canola breaks out of sideways range, uptrend slowing
MarketsFarm — ICE Futures canola broke out of a long standing sideways trading range during the first week of October, but could be running out of steam to the upside from a technical standpoint. The nearby November contract had held within a $15 range between $440 and $455 per tonne all summer, but jumped out
Funds hold steady in canola
MarketsFarm — Fund traders in the U.S. were busy covering short positions and putting on fresh longs in the soybean and corn markets during the week ended Oct. 1. Meanwhile, the net fund short position in canola held relatively steady, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading
Fall cattle run’s launch delayed as rains improve pastures
Producers with cull cows may want to sell soon
Numbers moving through Manitoba’s cattle auction yards are starting to pick up ahead of the fall run, with prices holding firm during the last week of September. “We finally saw decent volumes of calves to establish prices,” said Rick Wright of Heartland Order Buying. “Up until now we’ve had really light deliveries and the market
ICE weekly outlook: Upside limited for canola’s snow boost
MarketsFarm — An unwelcomed early winter storm sent ICE Futures canola contracts higher during the week ended Wednesday, but it will take outside support to sustain a rally, according to industry participants. Snow in Alberta and Saskatchewan and cool and wet conditions in Manitoba slowed harvest operations during the week, with about 60 per cent
Late Canadian mustard crop facing quality downgrades
MarketsFarm — An early blast of snow and cold across the Prairies has delayed harvest operations for a mustard crop already running behind normal, with quality downgrades expected for any mustard still in the field. “It has to be absolutely flattened,” said mustard buyer Walter Dyck of Olds Products at Lethbridge on the effect of
Funds cover some shorts in grains, oilseeds
MarketsFarm — The net fund short position in canola was reduced slightly during the week ended Tuesday, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). Speculators also bought back some of their bearish bets in soybeans and corn, the CoT report noted. The net managed money
Feed weekly outlook: Barley’s slide slows as harvest drags
MarketsFarm — The slide in western Canadian feed grain prices over the past few months shows signs of slowing, as concerns over harvest delays supplant earlier concerns over large crops and quality downgrades. “The weather over the next week or so doesn’t look that great,” Allen Pirness of Market Place Commodities in Lethbridge said Thursday.
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