MarketsFarm — ICE Futures canola contracts fell to their lowest levels in a month during the week ended Wednesday as much-needed moisture also fell across much of Western Canada. While there are still plenty of areas of concern, the rain has taken some of the weather premium out of the market, said Jonathon Driedger of
ICE weekly outlook: Weather, politics in focus for canola trade
StatsCan: Less canola and durum, more barley and oats
MarketsFarm — Canadian farmers seeded fewer canola and durum acres than they originally intended, but more barley and oats, according to updated acreage estimates from Statistics Canada that largely came within expectations. StatsCan pegged planted Canadian canola area for 2019-20 (August to July) at 20.952 million acres, down by about 300,000 from the March survey
Lingering old-crop supplies limit canola futures’ climb
U.S. seeding delays could lift spring wheat — but not yet
ICE Futures canola contracts moved higher during the week ended June 14, but ran into upside resistance as conflicting influences pulled on the market. Weather concerns, both in the United States and Canada, were a major supportive influence. Excessive moisture across the U.S. Midwest has left many intended corn acres unplanted. Soybeans can go in
CBOT weekly outlook: Bullish U.S. Midwest weather story not over
MarketsFarm — Corn and soybean futures at the Chicago Board of Trade may have run into some profit-taking resistance, but underlying concerns over wet fields and lost acres should keep the general uptrend in place heading through the summer. “I don’t think this weather story is anywhere near over,” said Preston Zacharias of CHS Hedging’s
Canola export forecast raised for 2019-20
MarketsFarm — Canadian canola exports in 2019-20 should beat earlier forecasts, according to updated supply/demand estimates from Agriculture and Agri-Food Canada released Friday. While the improved exports will cut into ending stocks, the carryout is still forecast to be record-large. Citing a seasonal weather market rally and expectations for an increase in prevent planting acres
Visible Canadian canola stocks back above one million tonnes
MarketsFarm — Solid deliveries into the commercial pipeline and lacklustre export movement saw visible Canadian canola supplies climb back above one million tonnes during the week ended June 9, according to the latest grain handling report from the Canadian Grain Commission. Farmers delivered 422,500 tonnes of canola during week 45 of the 2018-19 crop year
Slow U.S. corn planting a drag on cattle prices
Trade worries contribute to ongoing market volatility
Recent strength in grain markets has inversely weighed on cattle prices, although activity at Manitoba’s auction yards is slowing down for the season. A number of auctions were closed for the week, and many will soon shut down for the summer or run at reduced capacity. Prices for what was still moving have weakened over
Oats market solid, watching weather
MarketsFarm — Tight old-crop supplies are keeping oats prices well supported in Western Canada, although buyers are covered for the time being and waiting for a clearer picture on new-crop production. “It’s tough to find old-crop demand currently, as many larger-scale end-users are covered,” said Ryan McKnight of Linear Grain at Carman, Man. Most buyers
Feed weekly outlook: Barley bids rise on weather woes, tight old-crop supplies
MarketsFarm — Tight old-crop supplies and mounting weather concerns over new-crop production are keeping feed grain prices well supported in Western Canada as end-users work to ration supplies. “We’ve seen a very real weather market emerge in the last few weeks,” said Brandon Motz of CorNine Commodities at Lacombe, Alta., pointing to wet conditions hampering
Weather-related soybean rally supportive for ICE canola futures
Trump’s threat of a trade war with Mexico could be bearish
ICE Futures canola contracts climbed higher during the week ended May 31, as a rally in the Chicago Board of Trade soy complex provided spillover support. The slow pace of spring seeding in the United States catalyzed the rally in Chicago soybean and corn markets, with heavy rains keeping Midwestern farmers off of their fields.
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