Winnipeg/Commodity News Service Canada – ‘A lack of significant farmer selling’ has been a common talking point from analysts whenever they’ve had to account for some unexplained strength in the canola market in recent weeks. However, that line may need to be retired, as the official data tells a different story. According to Canadian Grain
Huge weekly canola deliveries In latest CGC report
Canola testing chart support
CE Futures Canada canola contracts settled at their weakest levels in over a month on Oct. 29, and could be poised for further losses from a chart standpoint. The most active January contract settled at $471.20 per tonne on Oct. 29, which was below all of the major moving indicators and the weakest level for
Flax prices pressured
Seasonal harvest pressure has weighed on flaxseed bids in Western Canada over the past month or so, but the weaker Canadian dollar is providing some support. Current spot flaxseed bids are in the $11.00 to $11.50 per bushel area, with top-end prices having lost over a dollar over the past month, according to Prairie Ag
Prairie wheat bids up as basis improves
CNS Canada — Cash wheat bids across Western Canada moved higher during the week ended Friday, as basis levels showed some improvement at most locations. Average Canada Western Red Spring (CWRS) wheat prices were up by C$7-$8 per tonne on average across the three Prairie provinces, according to price quotes from a cross-section of delivery
ICE weekly outlook: Bounce possible for rangebound canola
CNS Canada –– ICE Futures Canada canola contracts held rangebound during the week ended Wednesday, but could be due for a move higher if the market follows its typical seasonal patterns. The November canola contract has trended sideways over the past month, with prices ranging from $460 to $480 per tonne. That price range is
U.S. wheat futures expected to retest nearby lows
CNS Canada –– U.S. wheat futures may have corrected off of nearby lows, but the nearby path of least resistance remains pointed lower, according to a market analyst. “In the big picture, we have plenty of supplies and demand has been lacklustre,” said Randy Martinson of Progressive Ag at Fargo, N.D. With export demand eroding,
Canada’s pulses seen too pricey for India
CNS Canada –– Problems with India’s own pulse crop production are lending some support to lentil and pea prices in Canada, as India is a major buyer. However, the firm Canadian prices may have more to do with domestic competition between exporters than with any increase in offshore movement, according to a pulse dealer. David
Prairie wheat bids edge down as loonie rises
CNS Canada –– Cash wheat bids across Western Canada posted small losses over the week ended Friday, as the strengthening Canadian dollar cut into basis levels. Average Canada Western Red Spring (CWRS) wheat prices were generally down by C$1 to $4 per tonne across the three Prairie provinces, according to price quotes from a cross-section
Weekly canola crush hits new record
CNS Canada –– Canola oil is flowing freely in Western Canada, with domestic processors crushing more canola in a single week than ever before, according to the latest data from the Canadian Oilseed Processors Association (COPA). The weekly canola crush hit 184,493 tonnes during the week ended Wednesday, which is more than 10,000 tonnes above
ICE weekly outlook: Canola poised to test resistance
CNS Canada — ICE Futures Canada canola futures tried and failed to break higher on numerous occasions over the past two weeks, but could be poised to finally see a bounce, according to a market analyst. A rebound in palm oil is supporting soyoil, which in turn is supportive for canola, said Errol Anderson of
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