CNS Canada — Snow and freezing rain continues to hamper harvest progress across a large portion of Alberta and Saskatchewan. Environment Canada issued weather warnings and alerts for much of central and northern growing regions of Alberta and Saskatchewan on Friday. Up to 15 cm of snow are forecast, with freezing rain also likely in […] Read more
Snow causing more harvest grief in Alberta, Saskatchewan
ICE weekly outlook: Canola watching weather
CNS Canada — Snow, rain and cold temperatures over the past week helped canola futures trend higher, hitting their strongest levels in three months. With about a fifth of the crop facing harvest delays, more gains are possible, but the large U.S. soybean crop remains a bearish influence in the background. “Farmers continue to struggle […] Read more
Canola technicals rangebound
CNS Canada –– ICE Futures Canada canola contracts may have seen some weather-related strength over the past week, but technical signals remain relatively flat overall. The November contract settled Friday at $469.80 per tonne, nearing the high end of a corkscrew pattern — a series of higher lows and lower highs — going back over […] Read more
Manitoba sunflowers ready for harvest
CNS Canada — Most sunflower fields in southern Manitoba are ready for harvest, but the province first needs to see some drier weather. A handful of fields have seen some harvest activity already, “but the bulk is still to come,” said Ben Friesen, purchasing manager with Scoular Canada at Winkler, Man. “If the sun shines, […] Read more
MGEX spring wheat futures pull away from winter wheat
CNS Canada — Minneapolis spring wheat futures are pulling away from their winter wheat counterparts, as quality issues with the North American spring wheat crop bring in protein premiums, according to an analyst who said there was more room to the upside in spring wheat. Kansas City and Chicago winter wheat contracts hit 10-year lows […] Read more
CBOT weekly outlook: More losses likely as U.S. harvest pressure mounts
CNS Canada — Soybean and corn futures at the Chicago Board of Trade are both trending lower and should continue to do so, as seasonal harvest pressure and large production estimates will limit the upside potential over the next few weeks. “To some extent, the large crops are dialed in to our prices,” said Rich […] Read more
Canola crush running close to full capacity
CNS Canada — Canadian canola processors are running at close to full capacity, with a near record weekly crush posted during the week ended Wednesday. The weekly canola crush, during the week ending Sept. 21, hit 190,623 tonnes — the second largest on record, according to Canadian Oilseed Processors Association (COPA) data. Crushers were operating […] Read more
CBOT weekly outlook: Harvest pressures run up against harvest conditions
CNS Canada — Soybean futures at the Chicago Board of Trade moved higher during the week ended Wednesday, as a rally in soyoil, solid export demand and concerns over harvest delays across the U.S. Midwest all provided support. The U.S. soybean harvest was just getting started, with four per cent in the bin as of […] Read more
ICE weekly outlook: Canola crop size watched closely
CNS Canada — ICE Futures Canada canola contracts moved higher during the week ended Wednesday, although prices remain rangebound overall as market participants continue to try and get a better handle on the size of this year’s Canadian crop. While seasonal harvest pressure may be tempering the upside potential, that selling has not been as […] Read more
Grain trade still wary of satellite-based StatsCan estimates
CNS Canada — Statistics Canada’s second attempt at using satellite imagery to determine the size of the country’s crops is in line with trade guesses when it comes to canola — but market participants are still taking the new methodology with a grain of salt. The model-based principal field crop estimates, released Tuesday, are calculated […] Read more