CNS Canada — Canadian canola stocks are rather large heading into the new growing season, but attention now is firmly on new-crop production. Statistics Canada on Friday pegged canola supplies in the country as of March 31 at 9.1 million tonnes, the second-largest on record for that time of year and about 1.1 million tonnes […] Read more
Canola stocks comfortable, eyes on new crop
U.S. wheat stocks bigger than expected, trade watching weather
CNS Canada — A larger-than-expected wheat ending stocks forecast from the U.S. Department of Agriculture weighed on the country’s wheat futures Thursday, with attention now squarely on weather conditions. The government agency pegged wheat carryout for the upcoming 2018-19 marketing year at 955 million bushels, about 30 million above average trade guesses. Total wheat production […] Read more
Chickpeas seen making Prairie comeback
CNS Canada — Chickpeas should see a resurgence in Western Canada this spring, as farmers who hadn’t seeded the crop for a number of years shift some acres back from other pulses. “We sold a sizeable amount of chickpea planting seed,” said Colin Young of Midwest Grain at Moose Jaw. After an excellent quality year […] Read more
Exchange’s move means ‘zero change’ on canola traders’ screens
CNS Canada — Traders who handle canola futures on the former Winnipeg Commodity Exchange see some question marks ahead as the canola futures market gets set to pack up and move to New York at the end of July, pending regulatory approval. Atlanta-based Intercontinental Exchange (ICE), which has owned Winnipeg’s ICE Futures Canada canola market […] Read more
ICE weekly outlook: Canola ‘stuck in neutral’
CNS Canada — ICE Futures Canada canola contracts are lacking any clear direction at the beginning of May, and may stay rangebound through the seeding period. “Canola is stuck in neutral,” said Wayne Palmer, senior market analyst with Agri-Trend Marketing. “We’re at that stage where it’s rangebound, waiting for news, and watching the weather across […] Read more
Pulse weekly outlook: Saskatchewan acreage ideas hold firm
CNS Canada — Disruptions in marketing to India may have cut into prices for peas and lentils over the past year, but farmers in Saskatchewan did not shift their pulse acreage intentions for 2018 all that much according to the results of Statistics Canada’s latest survey, released Friday. Saskatchewan farmers intend to seed 2.171 million […] Read more
ICE weekly outlook: Sturdy canola watching weather
CNS Canada — Canola futures are trading at roughly the same level they were a month ago, but the commodity is looking much more expensive from an end-user’s perspective, as crush margins have lost about $25 per tonne since the middle of March. “The Canadian dollar has been going up and bean oil is making […] Read more
Feed weekly outlook: Late winter underpins Prairie barley bids
CNS Canada — Lingering winter weather across the Prairies means cattle are eating more grain, but the possibility of delayed seeding also means farmers with grain to sell are eyeing better prices. “As the winter continues to hang on, cattle producers are continuing to have to feed (grain) until they can get their cattle out […] Read more
Canola chart points to bearish reversal
CNS Canada — After hitting a contract high Monday, the ICE Futures Canada July canola contract subsequently turned decidedly lower to form a key reversal pattern from a chart perspective. July canola hit a high of $539.50 per tonne Monday, but settled right around where it started, near the lows of the day, at $536.70. […] Read more
ICE weekly outlook: Canola watching U.S./China spat
CNS Canada — ICE Futures Canada canola contracts moved steadily higher over the past week as grain markets reacted to a mounting trade dispute between China and the U.S. While no sanctions are yet in place, the back-and-forth sabre-rattling between the two countries now includes proposed Chinese tariffs on U.S. soybeans, which weighed heavily on […] Read more