CNS Canada — Canadian farmers adjusted their acreage ideas to seed more canola and pulses at the expense of grains, according to the updated Statistics Canada field crop area report released June 29. The adjustments were largely in line with trade guesses — and attention in the markets is quickly turning back to weather conditions.
Canada’s canola, pulse acres rise at grains’ expense
More canola and pulses, less wheat expected in Canada
CNS Canada — Canadian farmers likely seeded more canola and pulse acres than originally thought this spring, but less wheat, according to average trade estimates ahead of Statistics Canada’s next official survey results due out June 29. Poor returns per acre and frustrations over grading issues had some farmers backing away on wheat, said Jerry
Cash oats disconnect from falling futures
CNS Canada — Oat futures at the Chicago Board of Trade may be trending lower, but any further losses in the futures will only cause basis levels in the Canadian countryside to widen further, as farmers are reluctant to sell below their targeted levels. The delivery specs against CBOT oats futures are not milling quality,
Canola charts turn bearish
CNS Canada — ICE Futures Canada canola contracts have crashed hard the past few days, losing roughly $40 per tonne since hitting some of their highest levels of the past year the previous week, as speculators bailed out of long positions. The most active November contract settled at $493.60 per tonne on Tuesday, its weakest
North American sunflowers looking good early
CNS Canada –– Sunflower crops in key growing regions of North America are in relatively good shape early in the season, according to reports. However, those good conditions have put some nearby pressure on values, with spot pricing expected to take some direction from the weather and acreage reports over the next few weeks. Sunflower
‘Veil of uncertainty’ shrouds Churchill’s shipping season
CNS Canada — Manitoba’s Port of Churchill is facing an uncertain grain shipping season, as ownership of the Hudson Bay facility is still up in the air, months after owner OmniTrax announced plans to sell the port and the railway that serves it. Denver-based OmniTrax announced in late 2015 it had accepted a letter of
CBOT weekly outlook: Bull still needs to be fed for corn, soy
CNS Canada — Fund money pulled soybean and corn futures at the Chicago Board of Trade (CBOT) to their highest levels of the past year in recent weeks, but profit-taking at the highs tempered gains as traders look for more fundamental reasons to keep the rally going. “It’s all about the weather, La Nina and
MGEX spring wheat shows strength
CNS Canada — Minneapolis (MGEX) spring wheat futures have climbed back to their highest levels in two months and could remain strong relative to other wheat classes over the next few months, according to an analyst. The nearby July 2016 contract is trading at about US$5.50 per bushel, while the July 2017 contract is now
ICE weekly outlook: Canola gains depend on soybeans
CNS Canada –– ICE Futures Canada canola contracts moved higher during the week ended Wednesday and may have more room to the upside, provided the market continues to see a boost from the U.S. soy complex. “Right now, this market does not want to go down,” said senior analyst Wayne Palmer of Agri-Trend Marketing, on
Hemp industry scrambling to meet new Korean demand
CNS Canada — An explosion in demand for Canadian hemp out of South Korea is welcome news for the industry, but strict regulations may hamper just how much of that demand will be met this year. “The doors have blown off the market in Korea for hemp,” said Kim Shukla, executive director of the Canadian
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