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Grain Markets

Grain Markets, Markets

Influx from spring harvest coming to feed market

Some wheat is said to still be making the grade, leaving numbers uncertain

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As the spring harvest ramps up, more and more grain will be making its way to the feed market, according to Glen Loynes of JGL Commodities in Moose Jaw, Sask. “We’re going to see a lot of it in the next week or so,” Loynes said, noting it’s too early to be certain about the
Opinions are divided on how much canola Canada’s farmers will put in the ground this spring, ahead of Statistics Canada’s acreage survey due out May 7.
Grain Markets, Markets

Canola trends higher against pandemic tides

Markets are keeping an eye on the state of last fall’s snowed-under crops

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The ICE Futures canola market was relatively strong during the last week of April, despite the global pandemic that continued to roil most outside markets. The July canola contract trended higher all week, moving off of major lows in the process. From a chart standpoint, July canola sees support around $450 per tonne, with the
Soybeans are harvested on a farm on the outskirts of San Jose, in southern Uruguay in this file photo. The latest market intelligence says that country will produce fewer soybeans this season.
Grain Markets, Markets

More soybean production for Paraguay, less for Uruguay

It’s a tale of two countries in these Latin American nations

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Soybean production in Paraguay and Uruguay are headed in opposite directions, as reported by the United States Department of Agriculture (USDA) attaché in Argentina. Production in Paraguay is on the upswing, while it’s declining in Uruguay, but each country is faced with particular problems. For the 2019-20 marketing year, it’s expected Paraguay will produce approximately
A bag of beans sits atop bulk soybeans at a Walmart in Beijing on Sept. 23, 2019.
Grain Markets, Markets

Oilseeds draw strength from China’s recent market action

Oil’s fading fortunes put pressure on canola, not to mention other crops

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Canola prices showed impressive resilience during the week ended April 24 after being battered by outside markets earlier in the week. On April 20, West Texas Intermediate (WTI) crude oil futures dropped into negative territory to close at minus US$37.63, as traders bailed out of the May contract before its expiry date. The June contract
Traders and farmers alike will eventually need some sort of guidance as to what’s being planted in 2020.
Grain Markets, Markets

Farmers, traders will have to make do without crop area report

StatsCan isn’t sure it has enough information for a credible report

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Statistics Canada will not issue its crop area report on April 24 as originally scheduled. The COVID-19 pandemic has forced the federal agency to rethink its tasks, and one major change was to postpone a number of upcoming agricultural reports. Ken Ball, a trader for PI Financial in Winnipeg, suggests the markets can do just
Coronavirus leaves grain markets uncertain
Grain Markets, Markets

Coronavirus leaves grain markets uncertain

A lot remains to be worked out as spring marches ever nearer

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COVID-19 remained the overarching feature of just about everything in early April — the grain and oilseed markets included. The virus has touched all aspects of society and the ongoing uncertainty of what it means for trade led to choppy activity in the agricultural commodities. Canola futures bounced around during the week ended April 9,
Grain Markets, Markets

Snowbound farmers’ reduced sales drag on canola values

Unfounded intel suggesting a breakthrough on the canola ban was briefly supportive

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Cold spring temperatures and a late snowstorm depressed canola markets during the week ended April 3. While nearby contract prices started the week with relative strength, that petered out by midweek when an impressive amount of snow fell in eastern Saskatchewan and western Manitoba. That, combined with cold temperatures, discouraged some farmer selling and sidelined some trading activity. Earlier in the week,
Crude oil tanks at Kinder Morgan’s Sherwood Park, Alta. terminal on Nov. 14, 2016. Soyoil, a bellwether for canola, is closely connected to world crude oil prices.
Grain Markets, Markets

Canola futures remain steady amid pandemic

Their alignment with soyoil ties canola values to crude oil’s fortunes

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Despite turmoil around the world due to the COVID-19 pandemic, canola prices didn’t change much from week to week. ICE Futures’ May canola contract closed March 20 at $461.70 per tonne; by March 26, May canola was at $462.80 per tonne. Fuelling that steadiness has been soyoil on the Chicago Board of Trade (CBOT). Closely
Grain growers are up against an added layer of uncertainty as they get ready for spring seeding and, in some cases, to complete last fall’s harvest.
Grain Markets, Markets

Currency weakness supportive for Canadian-grown commodities

Wheat futures drew some strength from demand for shelf-stable goods

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It’s a fluid situation’ was the phrase of the week as the COVID-19 coronavirus pandemic infected everything it touched. The grains and oilseeds were not immune to the large swings seen in the global financial markets, but did manage to hold up reasonably well, all things considered. Social isolation, quarantines, travel restrictions and general worldwide
A trader works on the floor of the New York Stock Exchange (NYSE) shortly after the opening of trading in New York on March 13.
Grain Markets, Markets, Other

Crude oil war, COVID-19 fears drag commodity markets lower

Uncertainty has sidelined many participants in the canola market

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Canada’s grain markets haven’t been immune to the growing panic surrounding the COVID-19 coronavirus and its impact on global economies. At the start of Monday’s trade, crude oil futures plummeted by over 30 per cent following a dissolved agreement between Russia and Saudi Arabia, the de facto leader of the Organization of Petroleum Exporting Countries

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