CNS Canada — Soybean futures at the Chicago Board of Trade moved higher during the week ended Wednesday, as a rally in soyoil, solid export demand and concerns over harvest delays across the U.S. Midwest all provided support. The U.S. soybean harvest was just getting started, with four per cent in the bin as of
CBOT weekly outlook: Harvest pressures run up against harvest conditions
ICE weekly outlook: Canola crop size watched closely
CNS Canada — ICE Futures Canada canola contracts moved higher during the week ended Wednesday, although prices remain rangebound overall as market participants continue to try and get a better handle on the size of this year’s Canadian crop. While seasonal harvest pressure may be tempering the upside potential, that selling has not been as
Grain trade still wary of satellite-based StatsCan estimates
CNS Canada — Statistics Canada’s second attempt at using satellite imagery to determine the size of the country’s crops is in line with trade guesses when it comes to canola — but market participants are still taking the new methodology with a grain of salt. The model-based principal field crop estimates, released Tuesday, are calculated
Hog profits disappear as U.S. futures crash
CNS Canada — A sharp drop in the U.S. hog futures over the past week is cutting into the profitability of the Canadian sector as well, with a turn higher unlikely in the near term. U.S. lean hog futures set new contract lows over the past week, as large North American supplies and expectations for
Pulses stranded at sea as shipping company flounders
CNS Canada — The bankruptcy of a major Korean shipping company has raised some concerns for Canadian pulse crops moving by container, but any disruptions to movement will likely be minor, according to an industry analyst. Hanjin Shipping Co., the world’s seventh-largest container shipping company, declared bankruptcy on Aug. 31, leaving more than half of
Large old-crop canola stocks raise new-crop questions
CNS Canada — Canada grew a million more tonnes of canola in 2015-16 than originally reported, according to updated numbers from Statistics Canada, released Wednesday in connection with the Stocks of Principal Field Crops as of July 31 report. The unexpected revision to the old-crop production now has many industry participants questioning just how large
Quality Canadian durum may be in short supply
CNS Canada — Quality issues with the Canadian durum crop currently being harvested should see the price spreads between top- and low-end grain widen considerably, especially as the carryout from the previous year is also poor quality. Canadian durum stocks, as of July 31, were pegged at 1.1 million tonnes by Statistics Canada in a
ICE weekly outlook: Canola sees ‘bump in a bear market’
CNS Canada — News that China would delay its implementation of stricter dockage restrictions on Canadian canola shipments gave ICE Futures Canada contracts a boost on Wednesday, but values are still trending lower overall. “It’s a bump in a bear market,” said analyst Errol Anderson of Pro Market Communications in Calgary, on the initial reaction
Quality still a question for Canada’s big wheat crop
CNS Canada — Canadian farmers are sitting on a very large wheat crop this year, but the moisture that helped boost yields also caused disease issues and supplies of higher-quality wheat may still be in short supply. While the spring wheat harvest is just getting started and it’s hard to get a firm handle on
Wide canola crush margins show no sign of narrowing
CNS Canada –– Canola crush margins remain very wide, and are showing no signs of narrowing back in. As of Friday, the Canola Board Crush Margins calculated by ICE Futures Canada were at about $130 above the November contract, which compares with levels at the same time a year ago of $58. Crush margins provide
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