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Dry conditions on Prairies underpin canola trading
Grain Markets, Markets

Dry conditions on Prairies underpin canola trading

China’s interest in U.S. soy is both bearish and bullish

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Contracts on the ICE Futures Canada canola complex inched their way higher during the week ended May 25, momentarily threatening to break above major chart resistance at $540 per tonne until traders stepped in and took profits before Friday’s close. Many parts of Western Canada are badly in need of more rain, underpinning trading in
Futures drop, loonie rises, spring wheat bids down
Grain Markets, Markets

Futures drop, loonie rises, spring wheat bids down

Improved seeding conditions for spring wheat are also bearish for cash wheat values

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Hard red spring wheat bids in Western Canada moved lower during the week ended May 11 as a rally in the Canadian dollar and losses in U.S. futures weighed on values. Forecasts calling for improving moisture conditions in U.S. winter wheat-growing regions accounted for some of the selling pressure, while better spring wheat seeding conditions
Blooming rapeseed field at sunset
Grain Markets, Markets

Despite government reports, canola remains rangebound

A new supply/demand report loads weights on U.S. futures

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Canola contracts continued to chop around the $525- to $535-per-tonne range during the week ended May 11, despite some recent government reports that were deemed bullish for the market. The U.S. Department of Agriculture on May 10 released its monthly supply and demand report, in which it lowered its estimate of the ending stocks for
Prairie wheat bids follow U.S. futures upward
Grain Markets, Markets

Prairie wheat bids follow U.S. futures upward

July MGEX and CBOT wheat futures rose while K.C. HRW wheat slipped on the week

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Most wheat bids in Western Canada rose for the week ended May 4, supported by gains in the U.S. markets and a slightly weaker loonie. Average Canada Western Red Spring (CWRS, 13.5 per cent) wheat prices rose by $8-$11 per tonne across most of the Prairie provinces, according to price quotes from a cross-section of
Weak loonie drives Prairie wheat bids upward
Grain Markets, Markets

Weak loonie drives Prairie wheat bids upward

Average CWRS prices were up $3 per tonne on the week, while CPSR bids rose $13-$15

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Most wheat bids in Western Canada rose for the week ended April 27, taking strength from a lower Canadian dollar. Average Canada Western Red Spring (CWRS, 13.5 per cent) wheat prices rose by $3 per tonne across most of the Prairie provinces, according to price quotes from a cross-section of delivery points compiled by PDQ
Oilseed Rape Pods
Grain Markets, Markets

Canola futures drift lower despite seeding intentions

Other vegetable oil markets also remain under pressure

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ICE Futures Canada canola futures had every reason to rally sharply higher during the week ended April 27, but ignored all of the bullish news and drifted down instead. Canola had been looking rather expensive compared to other oilseeds, which likely contributed to the softer tone. A drop in Chicago Board of Trade (CBOT) soyoil
Chart 1.
Currency markets, Markets, Other

Don’t let currencies drive you ‘loonie’

There are a few practical ways to look at managing currency fluctuations

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A question I often get asked at hedging workshops and marketing presentations is about currency risk management. In particular, how to best manage it from a practical point of view. Farmers ultimately get paid in Canadian dollars, even though their commodity is priced either directly or indirectly in U.S. dollars. Whether it’s a flat price
U.S. futures fall, dragging on Prairie wheat bids
Grain Markets, Markets

U.S. futures fall, dragging on Prairie wheat bids

MGEX, CBOT and K.C. wheat slip by two to three per cent on the week

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Wheat bids in Western Canada declined for the week ended April 20, following the lead of U.S. futures markets. Average Canada Western Red Spring (CWRS, 13.5 per cent) wheat prices fell by $7-$11 per tonne across most of the Prairie provinces, according to price quotes from a cross-section of delivery points compiled by PDQ (Price
Canola up on weaker loonie, increased export chatter
Grain Markets, Markets

Canola up on weaker loonie, increased export chatter

StatsCan estimates and labour issues at CP loom large

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ICE Futures Canada canola contracts posted solid gains over the week ended April 20, correcting off of nearby lows despite a softer tone in Chicago soybeans and soyoil. Weakness in the Canadian dollar, which lost about a cent relative to its U.S. counterpart, accounted for some of the strength in the futures. However, crush margins
Prairie wheat bids mixed, watching U.S. futures markets
Grain Markets, Markets

Prairie wheat bids mixed, watching U.S. futures markets

MGEX and CBOT May wheat futures were up on the week, while K.C. May wheat fell

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Wheat bids in Western Canada were mixed for the week ended April 13, following U.S. futures markets, which were also mixed. Average Canada Western Red Spring (CWRS, 13.5 per cent protein) wheat prices rose by $1-$5 per tonne across most of the Prairie provinces, according to price quotes from a cross-section of delivery points compiled

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