Western Canadian wheat cash bids moved lower during the week ended Jan. 13, following the sharp declines seen in the U.S. futures markets following Friday’s bearish U.S. Department of Agriculture report. Average spot bids for Canada Western Red Spring (CWRS, 13.5 per cent protein) across Manitoba, Saskatchewan and Alberta came in at around C$160 per
Prairie wheat bids fall with U.S. futures
Cold temperatures not causing problems for Prairies’ winter wheat
Western Canada may be in the midst of a deep freeze, but the region’s winter wheat crops are none the wiser. “The crop sure is protected, there’s lots of snow,” said Jake Davidson, executive director of Winter Cereals Canada at Minnedosa, Man. “I would say that snow cover is more than adequate in most places.”
ICE weekly outlook: Lower prices still to come
Canola futures may have moved lower and set fresh contract lows during the week ended Jan. 8, but the worst is yet to come. The outlook for canola prices is already grim, as the large Canadian supply situation, logistical problems moving the crop out of the country and the resulting expected large ending stocks are
Prairie wheat bids ease for fourth straight week
Western Canadian wheat cash bids moved lower during the week ending Monday, marking four straight weeks of declines. Cash bids were following the continued downward trend seen in the U.S. futures markets. Average spot bids for Canada Western red spring wheat (CWRS, 13.5 per cent protein) across Manitoba, Saskatchewan and Alberta came in Monday at
Soybean expansion to continue on Prairies
Manitoba and Saskatchewan growers planted and produced a record-large amount of soybeans this year — and the crop’s westward expansion is expected to continue in the future. According to Statistics Canada, Manitoba farmers planted 1.05 million acres of soybeans in 2013-14 and, with good yields, produced 1.07 million tonnes. Manitoba’s soybean crops got a late
ICE weekly outlook: Canola hasn’t bottomed yet
ICE Futures Canada canola futures continued to move lower during the week ending Wednesday (Dec. 18), resulting in a total loss of more than C$30 per tonne in nearby contracts since early December. Recent declines in canola are linked to the large Canadian canola supply situation, as well as logistical problems in Western Canada. Declines
Prairie wheat bids down with U.S. futures
Western Canadian wheat cash bids moved lower during the week ended Monday, following losses seen in the U.S. futures markets. Basis levels also widened for both Canada Western Red Spring (CWRS) and Canadian Prairie Spring Red (CPSR) varieties, which contributed to the price weakness. Average spot bids for CWRS (13.5 per cent protein) across Manitoba,
Pea crop not quite as big as expected
Canada’s pea crop may be record-large this year, but some industry officials expected it to be even bigger than what Statistics Canada estimated in its production report on Dec. 4. StatsCan pegged Canadian pea production for 2013-14 at 3.849 million tonnes in the Dec. 4 report, up from the 3.341 million grown in 2012-13. “I
Prairie wheat bids plunge with huge Canadian crop
Cash bids for western Canadian spring wheat were sharply lower during the week ending Monday, as basis levels widened following Statistics Canada’s production report on Dec. 4. The report showed a shockingly large 37.53 million-tonne 2013-14 Canadian wheat crop. The 2012-13 Canadian wheat crop produced 27.21 million tonnes. Average spot bids on Monday for Canada
ICE outlook: Large crop bearish long-term
ICE Futures Canada canola futures moved to the downside during the week ended Dec. 4, hitting fresh contract lows in the process — but the market managed to come off its lows and close above key support after breaking below it on Wednesday. Some of the weakness in the market was linked to concerns about
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