Canola futures on the ICE Futures Canada trading platform moved sharply lower during the week ended July 24. The November contract broke through the key support level of C$520 per tonne during the week, and is moving its way down toward the psychological support level of $500 per tonne. On July 24, the November canola contract
ICE canola weekly outlook: market approaching support
Canola cash market falling along with futures
The canola cash market has weakened recently, following along with the falling ICE Futures Canada canola market. Recent weakness in the futures market is linked to reports of generally favourable weather conditions for Western Canada’s canola crop, as well as technical based selling. Jon Driedger, market analyst with FarmLink Marketing Solutions in Winnipeg, said that in recent
W. Cdn CWRS wheat bids down for fourth straight week
Cash bids for CWRS across western Canada moved lower for the fourth straight week during the period ended July 22, as weather conditions have been generally favourable for wheat development in North America, analysts noted. On July 22, average spot bids for 13.5% CWRS acrossManitoba, Saskatchewan, and Alberta came in at around C$255 per tonne, or
Alberta crops on schedule to avoid fall frosts
The majority of crops in Alberta are developing at a good pace, with most areas on schedule to avoid fall frosts, according to a provincial crop specialist. Neil Whatley, crop specialist with Alberta Agriculture and Rural Development said that most of the province has received beneficial weather recently, which has helped fields develop at a
Western Canadian CWRS wheat bids down, CPRS up
Cash wheat bids across Western Canada saw some mixed activity during the week ended July 15, with CWRS bids edging lower and CPRS prices moving higher. CWRS bids moved lower, following the Minneapolis wheat futures market while CPRS bids followed Kansas City wheat futures higher. On July 15, average spot bids for 13.5% CWRS acrossManitoba,
Manitoba corn crop flourishing amid hot weather
Manitoba’s corn crop has been flourishing amid recent hot weather — so much so, that most of the crops are now at the average stage of development, despite being planted later than normal. “Everything is looking really, really good at this point,” said Morgan Cott, field agronomist with the Manitoba Corn Growers Association. “It’s grown
ICE canola outlook: Weather to determine price direction
Canola contracts on the ICE Futures Canada trading platform moved higher during the week ended Wednesday (July 10), with much of the strength linked to the commodity following the gains seen in Chicago soybeans. Traders were said to be building a weather premium into the U.S. soybean market, as they got “edgy” with forecasts calling
Lower wheat, higher canola acreage expected in StatsCan report
Canola acreage in Canada is expected to increase in the upcoming Statistics Canada report, to be released on Tuesday (June 25), while spring wheat acres are likely to be lowered, according to analysts. Some of the reasoning behind the expectations is that many observers thought StatsCan’s April estimates — 19.375 million acres for spring wheat
Prairie durum prices seen steady in new crop year
Western Canadian durum prices are expected to stay steady in the new crop year and continue to hold a premium over spring wheat. The expected tight supply situation should help to keep a firm floor under the market. “We’re probably going to hold on to durum prices where they are today, maybe a little bit
Prairie wheat bids fall with U.S. futures
Cash wheat bids across Western Canada moved lower during the week ended June 10, following the price action seen in U.S. wheat futures. Average spot bids on Monday for 13.5-per-cent-protein Canada Western red spring (CWRS) wheat across Manitoba, Saskatchewan and Alberta came in at around C$273 per tonne ($7.42 per bushel), based on pricing available
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