CNS Canada — ICE Futures canola contracts continued to hang above the psychologically-important $500 per tonne mark during the week ended Wednesday, but the real test could be in the coming weeks as harvest kicks into full gear. The front-month November contract rose $2.10 during the week to $506.90 per bushel by Wednesday’s open. As […] Read more
ICE weekly outlook: Canola futures brace for harvest pressure
Trade uncertainty weighs on Manitoba pork prices
CNS Canada –– An ongoing trade battle between China and the U.S., along with general uncertainty in global trade, is starting to put a damper on Manitoba pork prices. In Canada, the formula price used by domestic farmers is based on the national base price in the U.S. That price is determined by a formula […] Read more
CBOT weekly outlook: Corn, soy run into strengthening U.S. currency
CNS Canada — The growing currency crisis in Turkey is starting to impact other economies throughout the world, and by extension commodities such as soybeans and corn. As the Turkish lira drops in value, many investors have begun to put their money into the U.S. currency. It’s a common move when markets are troubled as […] Read more
Turkish currency crisis casts cloud over lentil exports
CNS Canada — The plunging value of the lira is threatening to curb sales of Canadian lentils to Turkey — traditionally one of Canada’s biggest customers for the pulse. The Turkish lira hit a record low on Monday as soaring inflation and political turmoil sent the currency plunging relative to the U.S. dollar. At the […] Read more
Pulse weekly outlook: Heat blast threatens chickpea yields
CNS Canada — Temperatures as high as 38 C were recorded in the western Prairies over the weekend — and with that heat comes questions about crop impact. Lentils and peas are far enough along that the recent heat wave is unlikely to affect them from a yield perspective, according to Carl Potts of Saskatchewan […] Read more
Dwindling diesel supplies could boost price
CNS Canada — Strong global demand and a looming North American harvest could send diesel prices higher in coming months. According to one energy analyst in Chicago, farmers may want to buy some fuel before prices get too high. “We’re telling our people to hedge some of your exposure, because we do think that, barring […] Read more
CBOT weekly outlook: Corn, soybeans look to wheat for support
CNS Canada — Corn futures on the Chicago Board of Trade chopped around for much of the week ended July 25, but could be poised to move higher. There are ideas a trade deal between the U.S. and Mexico could be reached over some agricultural commodities such as corn, according to Jack Scoville of Price […] Read more
Pulse weekly outlook: Manitoba beans podding, flowering
CNS Canada — A lack of moisture continues to plague Manitoba’s edible beans, but according to one specialist, the crop should still enjoy another strong year. “Most areas have gotten just enough rain to keep things in good condition,” said provincial pulse specialist Dennis Lange. The Winkler region, long considered a major planting area for […] Read more
ICE weekly outlook: Dry weather keeping canola from more downside
CNS Canada –– A lack of rain in Western Canada may be the only thing keeping canola futures prices from dropping much further than they have already. The dominant November contract was above $525 a tonne in late June, but has since fallen to the $490 mark as of Wednesday. Global trade disruptions and a […] Read more
Crude oil and canola part company, for now
CNS Canada — The symbiotic relationship that crude oil and canola used to enjoy seems to have hit a snag. Chart structures have proven that crude prices have pushed and pulled canola up and down in recent years. However, since the start of 2018, the gains enjoyed by crude oil have failed to lift canola. […] Read more
Cyber-Savvy Farmer
