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A delivery worker checks his mobile phone on an electric bike filled with vegetables on a street in Wuhan in China’s Hubei province on Feb. 28.
Grain Markets, Markets, News, Other

Commodities not immune to risk-off mentality

Coronavirus fears drag grains, oilseeds, equities and energy markets lower

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A sharp drop in global equity and energy markets during the last week of February did not spare agricultural commodities, with ICE Futures canola falling to fresh contract lows and Chicago grains and oilseeds also under pressure. Fears over the COVID-19 coronavirus were heightened during the week, as more cases were confirmed outside of China
A Metro Vancouver Transit officer watches as a train passes on a westbound track while protesters block eastbound tracks on a CP rail bridge at Port Coquitlam, B.C. on Feb. 13.
Grain Markets, Markets

Jury still out on blockades’ impacts on grain traffic

Reduced farmer selling has somewhat insulated prices so far

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Canadian news headlines have been dominated in recent weeks by reports of ongoing rail blockades and demonstrations in solidarity with the Wet’suwet’en nation — but the jury is out as to how the protests will impact Canada’s grain markets. A daily report from Canada’s Ag Transport Coalition detailed the impact that blockades are having on
Vice-Premier Liu He and U.S. President Donald Trump shake hands after signing Phase 1 of the U.S.-China trade agreement during a ceremony in the East Room of the White House in Washington, January 15, 2020.
Grain Markets, Markets

What does China do next?

No one knows if the promise of the Phase 1 deal will become reality

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There are hopes in the markets that China will soon begin its US$40 billion in purchases of United States agricultural products, as outlined in the Phase 1 trade agreement. The positive feelings have been on the rise because Feb. 15 marks the day that Phase 1 officially comes into effect. However, there have been indications
Weak currency supports Brazilian selling
Grain Markets, Markets

Weak currency supports Brazilian selling

The weak real is seeing real returns for Brazilian growers rising as markets fall

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Reuters – Brazil might not be harvesting soybeans at a record pace, but farmers there are certainly selling their crops at a much quicker clip than usual due to the weak currency and uncertainty over how the U.S.-China trade deal will affect their business. Brazil typically ships more than half of its annual soybean exports
Consumers stock up at a Singapore supermarket on Feb. 7, 2020 after the state raised its coronavirus outbreak alert to orange.
Grain Markets, Markets

Risk-off trade sentiment outweighing market fundamentals

Crops still out on the fields cast clouds over StatsCan’s latest data

By
The novel coronavirus epidemic accounted for many of the headlines moving the grain and oilseed markets during the first week of February, with traders uncertain over what the outbreak will do to the global economy and demand for food. China is a major driver of international markets, and an economic slowdown there will cause ripple effects elsewhere. Equity,
Tourists take a selfie in front of Rome’s Trevi Fountain on Jan. 31 after two cases of novel coronavirus 2019-nCoV were confirmed in Italy.
Grain Markets, Markets

Canola drops as coronavirus outbreak rattles commodities

A lower loonie makes Canadian crops relatively attractive overseas

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Canola values incurred sharp losses during the week ended Jan. 31, steadying only slightly at mid-week thanks to support from the Canadian dollar. Headlines have been dominated by the rapidly spreading coronavirus outbreak, which originated in the Chinese city of Wuhan. As of Jan. 31, nearly 10,000 cases have been reported, and over 150 lives lost. Financial and
U.S. spring wheat May-August precipitation (inches).
Grain Markets, Markets

Markets watch the weather

Rain makes grain, and it’s one of the most volatile variables for Prairie farms

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Price and yield are the two biggest determinants of farm revenue. Using farming software to run simulations and what-if scenarios shows that even a modest change in commodity prices or crop yields can have a big impact on gross margins and the bottom line. This makes sense, given revenues are top line 100-cent dollars. While
A Chinese ship is loaded with soybeans at the Brazilian Port of Santos.
Grain Markets, Markets

Crush margins, currency, charts show support for canola futures

South American soybean production could bring pressure

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Canola values were well supported during the first full trading week of 2020 and have the potential to rally $10-$15 higher. Technical charts have projected canola values reaching $490-$495 per tonne. Some growers have throttled back on selling their product to wait and see if this price range will be realized. Barring sharp sell-offs in
U.S. Plains wheat condition ratings decline in December
Grain Markets, Markets

U.S. Plains wheat condition ratings decline in December

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Condition ratings for winter wheat declined from late November to late December in most U.S. Plains states, the U.S. Department of Agriculture said Jan. 2, reflecting dry conditions in some areas. The United States is the world’s second-largest wheat exporter after Russia. The USDA issued its last national winter wheat ratings of the season on

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