CNS Canada — ICE Futures canola contracts moved off their nearby lows over the week ended Wednesday as persistent harvest delays provided support. Additional strength, however, may be dependent on movement in the Chicago soybean market. “Soybeans will be the driving force behind which way canola futures go,” said commodities investment advisor David Derwin of
ICE weekly outlook: Canola still watching soy, weather
Speculators grow net short position in canola
CNS Canada — Large speculators added to their net short positions in the ICE Futures canola market during the week ended Tuesday, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). Managed money and other reportable speculators grew their net short position in canola to 27,709 contracts
Western Canadian wheat bids finish week mixed
Cash wheat values took support from U.S. futures against a stronger Canadian dollar
Hard red spring wheat bids in Western Canada held rangebound in most locations during the week ended Sept. 14, with small gains in some areas and small losses in others, as the futures held reasonably steady and the Canadian dollar strengthened. Average Canada Western Red Spring (CWRS, 13.5 per cent protein) wheat prices were within
Feed weekly outlook: Cheap corn, Prairie harvest quality weigh on prices
CNS Canada — Cheap corn imports and adverse Prairie harvest conditions should mean no shortage of feed grain in Alberta’s feedlot alley this winter — which should also keep prices under pressure going forward. “Anytime you get a ripe crop and you get snow and rain falling on it, it normally doesn’t make better quality,”
Canola crush margins tightest in years
CNS Canada — Canola crush margins have fallen to some of their lowest levels in more than a decade, which should keep a lid on any upside in prices. As of Thursday, the canola board crush margin calculated by ICE Futures U.S. was only about $26 above the November contract, which compares with levels a
Prairie harvest window possible next week
CNS Canada — Cold and wet conditions on the Prairies are expected to clear up over the next week, allowing a window of opportunity for harvest, though the size of that window remains to be seen. “Western and northern parts of Alberta have some serious issues,” said Drew Lerner of World Weather Inc. in Kansas
Harvest uncertainty holds canola in sideways trench
StatsCan’s reports did little to move markets either way
ICE Futures canola contracts held within a rather narrow range during the week ended Sept. 7, with even a pair of Statistics Canada reports unable to break the market out of its sideways pattern. Prairie harvest operations are moving north, and weather conditions and yield reports will be followed closely for at least the next
CBOT weekly outlook: Big U.S. corn yields surprise market
CNS Canada — An unexpected upward revision to this year’s U.S. corn yields sent prices dropping Wednesday, and more losses are likely, according to market analysts. The U.S. Department of Agriculture, in a report released Wednesday, pegged average corn yields at 181.3 bushels per acre — up by about three bushels per acre from the
Smaller Manitoba soybean crop expected
CNS Canada — Like most crops grown this year, Manitoba’s soybean yields were also highly variable in 2018. While early reports point to smaller production overall, lower-than-average yields won’t translate to higher prices, given prospects for a large U.S. crop. Manitoba soybean yields are “anywhere from 20 to 50” bushels per acre, said Mark Jorgenson
Large Canadian canola ending stocks expected
CNS Canada — Canada’s canola ending stocks as of July 31 came in at about a million tonnes above the previous year’s carryout — but were still well within trade expectations. Canola supplies as of July 31 were estimated at 2.391 million tonnes by Statistics Canada on Thursday, with 954,000 tonnes of that in commercial
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