CNS Canada — ICE Futures Canada canola contracts climbed to their highest levels in two years during the week ended Wednesday, with mounting weather concerns across the Prairies the key driver in the market. “This thing will keep going until we get some rain,” said Jerry Klassen, manager of GAP S.A. Grains and Produits in
ICE weekly outlook: Weather key to canola market
Canola crush margins keep dropping
CNS Canada — Canola crush margins remain in free-fall as canola seed becomes more and more expensive relative to the product values. “They’re not deteriorating, they’re flat-out disintegrating,” said a canola trader, pointing to the $20 drop over the past week alone. Crush levels have only been lower than they are now a couple times
Prairies’ dry fields good, if you’re a grasshopper
CNS Canada –– Dry conditions causing production concerns across large areas of Alberta and Saskatchewan are certainly bad for the crops, but the weather could prove ideal for grasshoppers. Grasshopper forecast maps put out over the winter were not initially all that bad for Alberta and Saskatchewan, given the conditions in 2014, but weather in
Canola crush margins deteriorating
CNS Canada — Canola crush margins continue to deteriorate in Canada, and will likely get worse before they get better. Canola margins hit some of their worst levels “in three to five years” during Monday’s trading session, according to a trader. While the margins were off those lows by the close, he said the longer-term
U.S. trans fat ban creates opportunities for canola
CNS Canada — A move by the U.S. Food and Drug Administration to ban artificial trans fats in processed foods within three years will create opportunities for Canada’s canola sector, especially high oleic varieties such as Nexera. Partially hydrogenated oils (PHOs), which are the primary source of artificial trans fat in processed foods, are not
Prairie wheat bids down with U.S. futures, rising loonie
CNS Canada — Cash bids for Canadian wheat dropped during the week ended Friday, as the combination of a rising Canadian dollar and dropping U.S. futures weighed on prices across the Prairies. Average Canada Western Red Spring (CWRS) wheat prices were C$12-$16 per tonne lower, with bids ranging from about $204 per tonne in north-central
Prices to rise as yield prospects drop for durum
CNS Canada — Mounting dryness concerns in some of the prime durum-growing regions of Western Canada have likely already cut into yield prospects, which should support prices going forward. Canadian farmers intended to plant 5.5 million acres of durum this year, well above the 4.75 million seeded the previous year and the largest crop since
Wheat bids climb with U.S. futures
CNS Canada –– Cash bids for Canadian wheat climbed sharply during the week ended Friday, as a rally in U.S. futures pulled bids up across the Prairies. Average Canada Western Red Spring (CWRS) wheat prices were C$12 to $19 per tonne higher, with bids ranging from about $218 per tonne in north-central Saskatchewan to as
U.S. canola crop also hurt by frost, likely off early estimates
CNS Canada — Recent frost that forced farmers to reseed canola fields across a large portion of Western Canada also reached into canola-growing regions of the northern U.S., with production likely taking a hit south of the border as well. “We’ve had at least 200,000 acres that have been reseeded, and a small number of
ICE weekly outlook: Canola needs more fuel to keep rising
CNS Canada –– ICE Futures Canada canola contracts climbed sharply higher during the week ended Wednesday, but additional gains will need some more bullish news as the market takes a breather and consolidates. A combination of a rally in CBOT soyoil, a weaker Canadian dollar, fund buying and a weekend frost all contributed to the
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