CNS Canada — ICE Futures Canada canola contracts appear to have finally run into some resistance after trending higher for all of February. While a return higher is possible, canola will take most of its direction going forward from what happens in outside markets. The May canola contract hit a three-month high of $531 per
ICE weekly outlook: Canola backing away from resistance
Canola nearing chart resistance
CNS Canada — The ICE Futures Canada canola market remains in a steady uptrend from a chart standpoint, with the May contract posting gains Monday for the 11th straight session. However, the futures are getting very close to upper resistance. May canola settled Monday at $530.50 per tonne, after climbing by roughly $30 over the
Grass cattle see strength in largely local marketings
Activity is seen staying strong as calving season looms
Activity was solid at Manitoba’s cattle auction yards during the week ended Feb. 23, with good demand for lighter animals especially. Roughly 10,600 head of cattle moved through the rings across the province, up from about 9,000 the previous week. Prices held reasonably steady on most classes, with the lighter-weight animals seeing the most strength.
Pulse weekly outlook: Chickpeas a bright spot
CNS Canada — Western Canadian farmers may be set to plant fewer lentil and pea acres this spring, but chickpeas are looking to be one pulse crop that stands out. “Acres are definitely going to increase significantly,” said Colin Young of Midwest Grain at Moose Jaw. He expected to see a doubling in area from
ICE weekly outlook: Canola looking cheap despite gains
CNS Canada — ICE Futures Canada canola contracts may be on the rise, but the commodity is actually looking cheaper to end-users, which should keep values supported going forward. “Canola is getting pulled higher, it’s not going up on its own,” said Ken Ball of PI Financial in Winnipeg. Recent strength in Chicago Board of
Canola exports slow down in latest weekly report
CNS Canada — Weekly Canadian canola exports were down during the week ended Sunday, hitting their lowest level since September 2017, according to the latest Canadian Grain Commission data. Canada exported only 129,000 tonnes of canola during the latest reporting period, which compares with the previous five-week average of 194,800 tonnes. Total canola exports during
Soybeans’ strength doesn’t sustain canola’s rally
Large corn supplies keep cash prices under pressure
ICE Futures Canada canola contracts hit their best levels in two months during the week ended Feb. 16, but ran out of gas and retreated from those highs despite continued strength in Chicago soybeans. After rallying above the psychological $500-per-tonne mark on Monday (Feb. 12), March canola spent the next few days making attempts at
CBOT weekly outlook: Soy faces bullish charts, bearish fundamentals
CNS Canada — Soybean futures at the Chicago Board of Trade posted solid gains over the past month on the back of weather concerns in Argentina. While there’s more room to the upside from a technical standpoint, the fundamentals are starting to become old news. “I think the Argentine story is a little bit exaggerated,
Steady sunflower acreage expected
CNS Canada — Manitoba’s sunflower market is holding steady for the time being, with acres likely unchanged on the year despite shifts in the processing sector. PepsiCo last week announced it will shut its Spitz sunflower seed processing plant at Bow Island in southeastern Alberta and shift its production to the U.S. Meanwhile, Manitoba has
Cattle values generally firm as weather drags on volumes
A weaker loonie didn’t draw much cross-border traffic
Routine winter movement was the order of the day at Manitoba’s cattle auction marts during the week ended Feb. 9. Only about 6,300 cattle were on offer across the province during the week, down by about 2,000 from the previous week as cold temperatures limited some movement. Values held firm for the most part, with
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