CNS Canada — Canadian farmers could be set to seed record-large canola acres in 2017, while wheat area is generally expected to be down on the year when Statistics Canada releases its first survey-based acreage estimates of the year on Friday. From a purely economic standpoint, “canola is historically the commodity that pays the bills,”
Trade sees record Canadian canola acres as possibility
CWRS bids continue downward slide across Prairies
Winter wheat futures in the U.S. have been holding steady
Hard red spring wheat bids in Western Canada continued to trend lower during the week ended April 7, posting losses for the third straight week as declines in Minneapolis futures weighed on prices. However, other wheat classes posted gains, as winter wheat futures in the U.S. held steady. Depending on the location, average Canada Western
Canola remains rangebound as new-crop outlook fuzzy
Charts suggest U.S. soybeans are still pointed lower
ICE Futures Canada canola contracts fell to their lowest levels in more than six months on April 3, but bounced off those lows and were higher overall by the close on April 7. A bearish reaction to the U.S. Department of Agriculture’s prospective plantings and quarterly stocks reports sent soybeans in a tailspin lower, and
CBOT weekly outlook: Soybeans, corn watching weather
CNS Canada — Soybean futures at the Chicago Board of Trade fell to their lowest levels of the past year on Tuesday, but bounced off of those lows as new-crop uncertainty and chart-based buying provided support. The U.S. Department of Agriculture forecast larger-than-expected world and U.S. soybean ending stocks in its monthly supply/demand report, which
Wheat bids soften in Western Canada
A stronger Canadian dollar helped drag on cash wheat prices
Spring wheat bids in Western Canada were steady to lower during the week ended March 31, as a softer tone in U.S. futures and strength in the Canadian dollar weighed on prices in the countryside. Depending on the location, average Canada Western Red Spring (CWRS) wheat prices were steady to down $2 per tonne across
ICE weekly outlook: Steady canola awaits acreage data
CNS Canada — ICE Futures Canada canola contracts fell to their lowest levels in six months during the week ended Wednesday, but uncovered support to the downside and may be entering a period of consolidation. “On canola, we’re seeing a stabilization period after a sharp downward move,” said Jerry Klassen, manager of Canadian operations with
Growing craft beer sector thirsty for local malt
CNS Canada — Craft breweries are a growing subsector of the Canadian beer industry, but the increased variety of local drink options are not necessarily 100 per cent homegrown, as a lack of domestically produced specialty malts forces brewers to look far afield to meet their needs. “We get our base malt locally, but we
Climbing cattle futures support Manitoba markets
Brazil’s meat scandal offers brief spillover support
Cattle auctions in Manitoba saw some good strength during the week ended March 24, as rising U.S. futures provided underlying support. “The (U.S.) futures board’s been climbing, which is certainly helping drive demand,” said Allan Munroe of Killarney Auction Mart. Both the feeder and finished cattle futures at the Chicago Mercantile Exchange climbed higher during
Baltic Dry Index hits two-year highs
CNS Canada — Ocean freight rates are trending higher, with the Baltic Dry Index (BDI) hitting its highest level of the past two years on Tuesday. The BDI, compiled daily by the London-based Baltic Exchange, provides an assessment of the price of moving major raw materials by sea, including grain. It was quoted Tuesday at
Sharp futures drop sees canola crush margins rise
CNS Canada — The sharp break lower in Canadian canola futures prices on Thursday caused crush margins to rise to their widest levels since January, as the product values have not fallen to nearly the same extent. Canola Board Crush Margins calculated by ICE Futures Canada were at about $114 above the May contract as
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