CNS Canada — Soybean futures at the Chicago Board of Trade moved lower during the week ended Wednesday, while corn held steady, with South American weather conditions expected to provide much of the direction going forward. “We’re pretty much trading one weather report at a time,” said Sean Lusk, director of commercial hedging with Walsh […] Read more
CBOT weekly outlook: Soy, corn watch South American weather
Large yields keep Manitoba farmers looking to corn
CNS Canada — Manitoba corn growers saw record yields this year despite an adverse harvest — and that trend of big crops is expected to continue, as varieties improve and more farmers commit to the crop. “It appears that the trend is headed toward larger (corn) crops,” said Myron Krahn, president of the Manitoba Corn […] Read more
ICE weekly outlook: ‘Toppy’ canola could still go higher
CNS Canada — Canola futures have trended higher in the most active nearby contracts in recent weeks, but still remain underpriced compared to soybeans. From a chart perspective, ICE Futures Canada’s January contract is trading at the highest levels for the front month in two and a half years. However, while “the charts may be […] Read more
Focus on quality, not quantity following StatsCan report
CNS Canada –– This year’s Canadian wheat production was up considerably from last year, according to updated estimates from Statistics Canada — but the quality of that crop remains questionable. All-wheat production (spring, winter and durum wheat combined) was pegged at 31.7 million tonnes in 2016-17, which compares with 27.6 million in 2015-16. Of that […] Read more
StatsCan report may raise more questions than answers
CNS Canada –– The lateness of this year’s harvest will likely leave more questions than answers when Statistics Canada releases its final production estimates of the year Tuesday, as a significant portion of the crop was likely still on the fields when the survey was conducted. Model-based estimates released in September placed the canola crop […] Read more
Canola nearing chart resistance
CNS Canada –– ICE Futures Canada canola contracts have trended higher for the past two weeks, with a rally in Chicago Board of Trade soyoil providing an added boost on Wednesday. While the nearby technical signals may be pointing higher, canola is also nearing major chart resistance. The January contract closed Thursday at $527.40 per […] Read more
CBOT weekly outlook: Soy, corn still rangebound despite recent gains
CNS Canada — Soybean and corn futures at the Chicago Board of Trade moved higher during the week ended Wednesday, but have little fundamental reason to continue in that direction, according to an analyst. Looking at corn, that market will be stuck in a sideways trading range for the foreseeable future, according to Preston Zacharias, […] Read more
Most Canadian chickpeas headed for feed market
CNS Canada — Low yields and poor quality have caused Canadian chickpea price quotes to shoot higher. Very little of the crop actually falls under the top grades, however, leaving the bulk of the marketing to take place in the feed sector. “The chickpea harvest has been an unmitigated disaster,” said Colin Young of Midwest […] Read more
Rising durum bids topping out in Western Canada
CNS Canada — Durum bids in Western Canada posted solid gains over the past two months, with concerns over the quality of the crop behind much of the strength. Prices are showing signs of topping out, though — and the highs may be in for now. Spot durum bids in southern Saskatchewan, where the bulk […] Read more
Canola crush hits new weekly record
CNS Canada — Canadian canola crushers hit a new weekly record during the second week of November, processing more than 200,000 tonnes of canola for the first time ever. The canola crush during the week ended Wednesday came in at 203,951 tonnes, according to the most recent Canadian Oilseed Processors Association report. The previous record […] Read more