MarketsFarm — Canadian wheat and canola ending stocks for the 2022-23 crop year are forecast to end up above earlier projections, according to updated supply/demand estimates from Agriculture and Agri-Food Canada, released late Friday. The updated estimates account for recent production and old-crop carryout numbers from Statistics Canada. Total wheat ending stocks for 2022-23 are […] Read more
Canadian wheat, canola stocks projections revised higher
Harvest sample program now open
Reading Time: < 1 minute The Canadian Grain Commission harvest sample program is now open. The free program gives producers a host of info that can be used when marketing or delivering grain. This includes an unofficial grade; dockage for canola; protein content for cereals and pulses; oil, protein and chlorophyll content for canola; falling number for wheat and rye; […] Read more
ICE weekly outlook: Seasonal upturn possible for canola
'Good underlying support' seen in futures
MarketsFarm — ICE Futures canola contracts may soon be due for a seasonal turn higher as harvest pressure subsides and prices should be looking very attractive to end users. However, uncertain outside influences will still dictate the overall direction. “The field certainly gets muddied by issues of geopolitics,” said MarketsFarm analyst Mike Jubinville, pointing to […] Read more
Watch the big picture and local situation, say grain market analysts
A slowing global economy is a key storyline but so is the basis offered by your local elevator
Reading Time: 4 minutes Global economies appear to be “falling off a cliff,” with reduced demand for crude oil and other commodities pressuring grain prices downward, says an Alberta-based commodities analyst. At the same time, lower than expected U.S. corn yields are supporting canola, wheat and soybean prices, said Errol Anderson, president of ProMarket Communications. Be ready to move […] Read more
Farmers’ wheat, canola deliveries picking up in West
Commercial canola stocks increase
MarketsFarm — The advancing Prairie harvest has seen an increase in farmer deliveries of grains and oilseeds into the commercial pipeline, according to the latest weekly data from the Canadian Grain Commission. Export activity for canola remains very light through the first six weeks of the 2022-23 crop year, but growing supplies in the commercial […] Read more
Harvest is bringing upbeat reports
Reading Time: 2 minutes Despite challenging growing conditions, there was plenty of encouraging news in the first provincial crop report of the month. Dryland yields were running 12 per cent above the five-year average (which was lowered by last year’s drought) and nearly eight per cent higher than the 10-year average, says the Sept. 6 report. Despite an extremely […] Read more
ICE weekly outlook: Canola futures continue trending lower
MarketsFarm — ICE Futures canola contracts saw some choppy activity during the week ended Wednesday, but the general trend remains pointed lower. “Whenever canola rebounds, it doesn’t go as high,” analyst Errol Anderson of Pro Market Communications in Calgary said. Anderson described the chart pattern as a “falling top,” with previous attempts at recovery in […] Read more
StatCan’s canola call in line with expectations
Agency also boosts wheat projection
MarketsFarm — While Statistics Canada (StatCan) cut its projection for canola production in 2022-23 by 400,000 tonnes, FarmLink Marketing Solutions senior analyst Neil Townsend said the number could go lower. StatCan on Wednesday issued its latest production estimates and lowered its call on canola from the 19.5 million tonnes forecast in its Aug. 29 report […] Read more
Candidates wanted for canola board
Reading Time: < 1 minute Nominations are open for four director positions on Alberta Canola’s board. Candidates don’t have to reside in a region to serve as a director but must have grown canola in it (or had a share of crop) and paid the canola checkoff. The four regions are regions 1 (the northwest corner of the province), 4 […] Read more
Funds add to bearish bets in canola
MarketsFarm — The speculative net short position in the ICE Futures canola market grew during the week ended Tuesday, as fund traders added more bearish bets, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). The net managed money short position in ICE Futures canola came in […] Read more
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