Reading Time: 2 minutes An analysis of the factors pushing Intercontinental Exchange canola futures upward.
Production concerns drive canola market
Output likely below StatCan estimate but StatCan and USDA remain stubbornly optimistic
ICE weekly outlook: Canola rally keeps going
Not yet back at $1K, but it's possible
MarketsFarm — With good gains from other edible oils, canola has remained on the rise so far during the week of Oct. 18. It’s uncertain as to how much longer the rally could press on, but analyst David Derwin of PI Financial in Winnipeg said canola punching through $1,000 per tonne again is possible. “Never […] Read more
Feed weekly outlook: Shortages leading to price increases
MarketsFarm — Prices for feed grains are swinging higher because of shortages, according to Mike Fleischhauer of Eagle Commodities Ltd. in Lethbridge. “One thing we are sure of is we are running out of inventory, barley for sure, and we’re 11 months away from new crop,” he said. This year’s severe drought and excessive heat […] Read more
CBOT weekly outlook: U.S. corn, soybean carryovers could increase
Declines expected for wheat stocks
MarketsFarm — Ahead of the next supply and demand report from the U.S. Department of Agriculture (USDA), expectations are for corn and soybean ending stocks to increase, according to Steve Georgy, president of Allendale Inc., in McHenry, Ill. “The wheat market could see carryout numbers decline slightly on this report,” he added. USDA is scheduled […] Read more
Exports tumble as supplies simply not there
'There's very little to sell'
MarketsFarm — Cereal and oilseed exports out of Canada nosedived in August just as the 2021-22 marketing began, according to the monthly export report from the Canadian Grain Commission (CGC). At about 2.24 million tonnes, total grain exports were down 38.5 per cent overall compared to those in August 2020. “There’s very little to sell. […] Read more
Pulse weekly outlook: Manitoba has an OK dry bean crop
MarketsFarm — As with the great majority of field crops this year in Manitoba, dry beans have seen production fall due to excessive heat and severe drought, according to provincial pulse specialist Dennis Lange. “Dry beans usually do fairly well on drier years, but this year has been extremely dry for a lot of the […] Read more
Prairie quinoa yields likely to be down this year
MarketsFarm — Shortly before the harvest of this year’s quinoa crop in Western Canada is about to start, expectations are for yields to be down from last year, according to Liam O’Halloran of the Northern Quinoa Production Corp. (NorQuin) in Saskatoon. “As well as everything else we had some areas that had a little bit […] Read more
Canary seed prices rise as production drops
MarketsFarm — This year’s canary seed crop in Canada will be smaller than expected, according to Darren Yungmann, board chair of the Canary Seed Development Commission of Saskatchewan. “Overall, canary seed is one of the most susceptible to the drought when compared to other crops,” he said, noting it’s shallow-rooted and could not access any […] Read more
ICE weekly outlook: Analyst sees canola spike late next month
Movement expected to roll out of November soon
MarketsFarm — As the canola harvest winds down on the Prairies, ICE Futures canola began to climb upward in approaching $900 per tonne, the upper limit of its range. That’s given Winnipeg-based analyst Wayne Palmer of Exceed Grain reason to believe canola will bust through $900 per tonne. “That’s all due to the drought and […] Read more
Prairie cash wheat: Gains in prices vary by type
MGEX, CBOT December wheats up on week
MarketsFarm — Bids in Western Canada for the week ended Thursday were higher for Canada Western Amber Durum (CWAD), Canada Western Red Spring (CWRS) and Canada Prairie Spring Red (CPSR) wheats. Gains in most of the U.S. wheat markets led to the increases, which were tempered somewhat by a stronger Canadian dollar. Average CWRS (13.5 […] Read more