Markets & Farming Articles - Manitoba Co-operator

ICE Canada Morning Comment: Canola remains on the upswing

Tight supplies, dry conditions supportive

By GFM Network News April 8, 2021

By Glen Hallick, MarketsFarm WINNIPEG, April 8 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were higher on Thursday morning and witnessed the May contract push above C$800 per tonne. Old crop canola prices continued to be underpinned by tight supplies, while those for new crop were getting support from the dry conditions on the Prairies.

MGEX May 2021 wheat (candlesticks) with K.C. May 2021 wheat (yellow line) and CBOT May 2021 wheat (green line). (Barchart)

Crops, Markets

Spring wheat slowly regains premiums

By Adam Peleshaty, GFM Network News April 8, 2021

MarketsFarm — Nearby Minneapolis spring wheat contracts have historically traded at a premium compared to their Chicago and Kansas City soft wheat counterparts. And after a winter during which that premium had all but disappeared, spring wheat has so far made gains in 2021. Since the start of the year, both spring wheat contracts have

Crops, Markets

Flax area seen expanding on strongest prices ever

By GFM Network News, Glen Hallick - MarketsFarm April 8, 2021

MarketsFarm — To MarketsFarm Pro analyst Mike Jubinville, there’s no doubt that flaxseed acres in Canada will increase in 2021. In Agriculture and Agri-Food Canada’s (AAFC) March supply and demand estimates, the department projected flax acres to jump 22 per cent in 2021-22 at about 1.14 million, up from nearly 931,600 seeded in the previous

ICE May 2021 canola with Bollinger (20,2) bands. (Barchart)

Crops, Markets, Weather

ICE weekly outlook: Canola fundamentals still strong in volatile market

By GFM Network News, Phil Franz-Warkentin April 8, 2021

MarketsFarm — ICE Futures canola contracts moved higher during the week ended Wednesday, with the largest gains in the old-crop months amid ongoing concerns over tight supplies. Day-to-day activity could remain volatile at times, but underlying fundamentals should remain supportive heading into the 2021 growing season, according to an analyst. While canola futures have traded

MGEX May 2021 spring wheat (candlesticks) with 20-day moving average (gray line) and CBOT May 2021 wheat (orange line). (Barchart)

Crops, Markets, Weather

U.S. grains: Wheat lifted on spring planting concerns

Near-term tightness in world supply underpins soy, corn

By Christopher Walljasper, GFM Network News April 8, 2021

Chicago | Reuters — Chicago wheat futures gained on Wednesday, following the Minneapolis Grain Exchange’s hard red spring wheat higher on concerns that dryness across the U.S. Great Plains could affect spring wheat plantings. Chicago corn gained ahead of the U.S. Department of Agriculture’s monthly supply and demand report on Friday, which is expected to

CME June 2021 lean hogs with 20-, 50- and 100-day moving averages. (Barchart)

Livestock, Markets

U.S. livestock: Lean hogs gain as swine fever worries open up export markets

Boxed beef values lift live cattle futures

By Christopher Walljasper, GFM Network News April 8, 2021

Chicago | Reuters — U.S. lean hog futures on the Chicago Mercantile Exchange jumped higher on Wednesday on fears of African swine fever rising across parts of Asia, as well as tight domestic supply as the U.S. rebuilds its hog herd after culling during the height of the COVID-19 pandemic, analysts said. The Philippines reduced

Currency markets

Canadian Financial Close: Loonie falls, oil gains

By GFM Network News April 7, 2021

WINNIPEG – The Canadian dollar sunk on Wednesday, after Statistics Canada revealed that Canada’s trade surplus narrowed to C$1 billion in March and Ontario announced a new stay-at-home order to combat a third wave of COVID-19. The loonie was at US$0.7926 or US$1=C$1.2617 on Wednesday, down from Tuesday’s close at US$0.7962 or US$1=C$1.2559. On the

Markets, News

International Grains Council sees record global grain production in 2021-22 season

By Reuters April 7, 2021

The International Grains Council (IGC) recently forecast global grain production would climb to a record 2.287 billion tonnes in the 2021-22 season, but expects the larger supply to be entirely absorbed by higher consumption. In its first full assessment for the 2021-22 season, the intergovernmental body projected a balanced market, with stocks at the end

Markets, News

Mexico will miss corn output forecast, farmers’ group says

A direct cash payment program for farmers is panned as insufficient

By David Alire Garcia April 7, 2021

Reuters – Mexican corn production is likely to total no more than 24 million tonnes this year, significantly less than the government’s forecast, the head of one of the country’s largest corn farmer associations said in an interview. Juan Pablo Rojas told Reuters that the official estimate of nearly 27 million tonnes by the Agriculture

Futures markets

North American Grain/Oilseed Review: Canola ends higher after choppy day

By GFM Network News April 7, 2021

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, April 7 (MarketsFarm) – The ICE Futures canola market was stronger on Wednesday after trading to both sides of unchanged, with the largest gains in the nearby May contract as some speculative stops were hit on the way up. Tuesday’s move above the 20-day moving average was bullish from a

Daily Network News

Russia’s top agriculture official blames low global grain prices for export slowdown

U.S. livestock: Cattle rebound on technical buying

U.S. grains: Soybeans fall as rapid harvest overshadows China trade hopes

Markets