MarketsFarm — Market participants on the Chicago Board of Trade expect agriculture commodity prices to continue to rise in 2021. Terry Reilly, a grains analyst with Futures International, said corn is expected to hit around $5.25 per bushel, while soybeans will be around $14.50 (all figures US$). The March wheat contract is expected to reach […] Read more
CBOT weekly outlook: South American weather, labour issues prop up prices
Pulse weekly outlook: Yellow pea prices stronger since harvest
MarketsFarm — Yellow pea prices on the Prairies have shown strength since harvest, as they’ve seen an appreciable change in demand from India. Darwin Hamilton of Kalshea Commodities in Winnipeg said India is always looking to increase its pulse acres. But, in the event of shortages, it’s been turning to North America for yellow peas. […] Read more
ICE canola weekly outlook: Canola dips at midweek
MarketsFarm – ICE Futures canola contracts were weaker on Wednesday, sustaining contract prices around C$630 over the Christmas holidays. The nearby January contract closed at C$629.20 per tonne on Dec. 30, just a few pennies lower than its Dec. 23 close of C$630.90. Ken Ball of PI Financial in Winnipeg, Man., said canola prices will […] Read more
ICE weekly outlook: Canola holds over $600
MarketsFarm — ICE Futures canola contracts were stronger Wednesday, hitting multi-year highs for three consecutive days. The nearby January contract closed at $602.90 per tonne on Wednesday, gaining nearly $10 since Friday’s close of $593.60. Ken Ball of PI Financial in Winnipeg said canola is expected to go higher in order to “kill off some […] Read more
Feed weekly outlook: Export demand supports prices
MarketsFarm — Feed grain prices remain strong into the winter, due to steady feedlot demand and solid export activity. Brandon Motz of CorNine Commodities at Lacombe, Alta. said feedlots have freed up some pen space after COVID-19 shutdowns created backlogs, but demand remained steady. “There’s more pen space in southern Alberta, compared to other years,” […] Read more
CBOT weekly outlook: Soy trade watching weather, export demand
MarketsFarm — Soybean contracts on the Chicago Board of Trade tested contract highs around US$12 per bushel in overnight trade earlier in the week, but couldn’t maintain those levels due to a lack of support. A technical selloff put pressure on prices on Wednesday, with the nearby January contract closing down by nine cents at […] Read more
StatsCan report to provide clarity on 2020 crop production
MarketsFarm — Market participants and producers will be looking to Statistics Canada’s principal field crop report, due out Thursday, for clarity regarding 2020 crop yields. “We’re looking to see how severely the heat damaged the crop, and how yield estimates were tempered later in the growing season,” said Jerry Klassen, an analyst in Winnipeg. Klassen […] Read more
ICE weekly outlook: Canola stronger at midweek
MarketsFarm — ICE Futures canola contracts were stronger on Wednesday, making up losses incurred earlier in the week. The nearby January contract closed Wednesday at $578.90 per tonne, gaining a few dollars after losing $7 in the prior day’s trade. Keith Ferley of RBC Dominion Securities in Winnipeg said canola’s losses were due to chart […] Read more
CBOT weekly outlook: Corn, soy continue rallies
MarketsFarm — Commodities on the Chicago Board of Trade (CBOT) have appreciated a significant rally over the past weeks. Last week’s world agriculture supply and demand estimates (WASDE) from the U.S. Department of Agriculture (USDA) detailed lower-than-expected ending stocks for soybeans, which were bullish for soybean values. “Beans are on a mission right now,” said […] Read more
Feed weekly outlook: High demand keeps bids strong
MarketsFarm — Feed grain prices in Western Canada have come off of recent highs but remain “higher than what feeders like to see.” That’s according to Brandon Motz of CorNine Commodities ar Lacombe, Alta., who said feed grains are still in a “high-demand market,” with spot prices for feed barley and wheat around $260-$265 per […] Read more
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