The ICE Futures Canada canola market ignored St. Patrick’s Day during the week ended March 17, with no green on any of the board as prices fell below major chart support. The May contract dropped below the 200-day moving average, at $508 per tonne, which brought in additional fund selling and saw values hit their
Canola drops below chart support with fund selling
North America’s weather is poised to become a factor
CBOT weekly outlook: Soy, corn await USDA reports
CNS Canada — Soybean and corn contracts at the Chicago Board of Trade find themselves in consolidation mode as traders await the release a pair of key U.S. reports on March 31. The U.S. Department of Agriculture’s first survey-based acreage estimates of the year will be released that day, while quarterly stocks data are also
Tight chickpea supplies to limit Canadian acres
CNS Canada — Tight chickpea supplies will keep Canada from taking advantage of fresh demand out of Turkey, while any acreage increases will also be hampered by poor seed supply. Due to its own domestic chickpea shortage, Turkey recently announced it was temporarily lifting import tariffs on chickpeas. Turkey has bought Canadian chickpeas in the
Prairie wheat bids decline with U.S. futures
The Canadian dollar declined about half a cent in value over the past week
Spring wheat bids in Western Canada moved lower during the week ended March 10, as spillover pressure from losses in U.S. wheat futures more than made up for the supportive influence of a weaker Canadian dollar. Depending on the location, average Canada Western Red Spring (CWRS) wheat prices were steady to down $3 per tonne
ICE weekly outlook: Canola under pressure
CNS Canada — ICE Futures Canada canola contracts posted large losses during the week ended Wednesday, and could be due for further declines as outside market influences remain bearish. “There are no bullish factors in the market at all,” said Wayne Palmer, senior market analyst with Agri-Trend Canada, adding “we’re going lower, before we’re going
U.S. wheat market watching weather closely
CNS Canada — U.S. wheat futures posted sharp losses over the past few weeks, but values found support on Tuesday as weather forecasts provide nearby direction, according to an analyst. Minneapolis and Kansas City wheat contracts lost roughly US30-40 cents per bushel over the past month, as ample world supplies weighed on values. “We’ve certainly
Western Canadian wheat bids climb as loonie falls
The dollar dipped about 1-1/2 cents on the week
Spring wheat bids in Western Canada posted solid gains during the week ended March 3 as weakness in the Canadian dollar gave basis levels a boost. Depending on the location, average Canada Western Red Spring (CWRS) wheat prices were up $5-$10 per tonne across the Prairie provinces, according to price quotes from a cross-section of
Weaker loonie draws U.S. cattle buyers to Manitoba
Prices have local buyers seeking out bred cattle
Cattle moving through Manitoba’s auction yards saw some strength during the week ended March 3, as a combination of rising U.S. futures and a weaker Canadian dollar gave local prices a boost. Heartland Livestock Services at Virden was the busiest auction yard in the province during the week, holding three sales: a bred cow sale,
Sideways canola futures well above chart support
CNS Canada — Canola remains stuck in a sideways trading range well above major chart support, despite losses in the U.S. soy complex. The May soybean contract at the Chicago Board of Trade fell sharply below the 200-day moving average of US$10.20 per bushel on Thursday, as that market had a bearish reaction to the
Manitoba storm may cause more than travel delays
CNS Canada –– Road closures across most of western Manitoba due to a late-winter storm are likely only the start of the headaches to come, as flooding and/or late seeding may be a reality in many areas this spring. Meteorologist Drew Lerner of World Weather Inc. in Kansas City said he was optimistic on moisture
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