MarketsFarm — U.S. farmers will grow more corn and fewer soybeans in 2019, according to the first production estimates of the year from the U.S. Department of Agriculture. Ending stocks of both crops are expected to remain large. U.S. soybean production for 2019-20 was forecast at 4.15 billion bushels by the government agency, which would
USDA sees smaller soy crop in 2019, more corn
Net short position keeps growing in canola
MarketsFarm — The large speculative short position in ICE Futures canola contracts continued to grow during the week ended Tuesday, as speculators added to their bearish bets on the market, according to the latest commitment of traders (CoT) report compiled by the U.S. Commodity Futures Trading Commission (CFTC). Managed money and other reportable speculators had
Feed weekly outlook: A tale of two Prairie grain markets
MarketsFarm — Tight old-crop supplies may be keeping nearby barley bids underpinned on the Prairies — but expectations for increased acres in 2019 mean new-crop bids are at a considerable discount. “It’s a tale of two markets right now,” said Glen Loyns, general manager of JGL Commodities at Moose Jaw, pointing to the large spread
Bearish fundamentals drive canola to new contract lows
Presidential tweets piled more pressure on soybean values
Canola contracts on the ICE Futures platform hit fresh contract lows every day during the week ended May 3, with little supportive news to slow the drop. The most active July contract lost $14 per tonne over the course of the week, to settle at $432.60 per tonne on May 6. New-crop November lost a
Pulse weekly outlook: Pulses steady in sea of uncertainty
MarketsFarm — Every spring offers its own mystery of what the growing season will bring, and this year is no different for western Canadian pulse markets. However, while the unknowns are usually linked to the weather or acreage ideas, this year also presents extra challenges for the pulse sector. India remains a major wildcard in
Report shows record-large canola stocks at end of March
MarketsFarm — Canada’s canola supplies of just over 10 million tonnes as of March 31 marked a new record for the date, according to Tuesday’s stocks of principal field crops report from Statistics Canada. The government agency pegged canola supplies in the country at the end of March at 10.019 million tonnes, up by 10.5
Net short position climbs in canola
MarketsFarm — The large speculative short position in ICE Futures canola contracts widened the week ended Tuesday, as speculators added to their bearish bets on the market, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). Managed money and other reportable speculators on Tuesday had a net
Canada ‘playing chess’ on canola file
MarketsFarm — Canola seed sales to China remain at a standstill with little fresh news to report, according to a Canola Council of Canada briefing to farmers held Friday morning together with federal International Trade Diversification Minister Jim Carr. However, efforts on a number of fronts are ongoing, as Canada works to resolve the issue.
Cattle volumes at auctions to drop soon, but not yet
Sales remained busy in the post-holiday time frame
Good volumes moved through Manitoba cattle auctions open during the week ended April 26, with solid prices in both the feeder and butcher markets. The short week due to Good Friday the previous week, and the fact that some auctions were closed for Easter Monday, meant the sales which were running were busy. “The numbers
ICE weekly outlook: Bearish funds keep canola pointed lower
MarketsFarm — ICE Futures canola prices fell to their lowest levels since 2014 during the week ended Wednesday, as bearish technical signals and a lack of progress on trade relations with China weighed on values. While a short-covering correction is possible, the underlying fundamentals also remain bearish. Speculators adding to their large net short positions
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