CNS Canada — ICE Futures Canada canola contracts moved lower during the week ended Wednesday, but held above major support as prices remain relatively cheap compared to other oilseeds. Fund traders adding to short positions were behind much of the weakness in canola, although traders said the net short position was reaching the point that […] Read more
ICE weekly outlook: Canola sitting right above support
Shallow roots potential concern for Manitoba sunflowers
Commodity News Service Canada – Sunflower crops in Manitoba are generally in good shape for this time of year, but excess moisture in the key growing areas have kept root systems shallow, which could create problems later in the season, according to an industry participant. It’s still relatively early for sunflowers, with diseases usually not setting in until […] Read more
Manitoba edible bean prospects hampered by wet weather
Commodity News Service Canada – Heavy rains in key edible bean growing areas of Manitoba over the past week likely cut into production prospects, although the market has yet to see any noticeable reaction from a pricing standpoint. Some bean growing areas of the province were hit harder than others, but “they’ve all had a bit […] Read more
Weak U.S. wheat futures watching European crops
Commodity News Service Canada – U.S. wheat futures are trading just above their weakest levels in 10 years, but the lows may be in for the time being as funds are already holding large short positions and attention turns to problems with the European crop. “We’re really just following the EU,” said wheat-broker Austin Damiani, of […] Read more
Canola drops hard, nearing major chart support
CNS Canada — ICE Futures Canada canola contracts fell below nearby chart support on Thursday, hitting their softest levels in four months. There is more room to the downside, but the market is also looking oversold. Fund traders were noted sellers on the move down, liquidating long positions and possibly moving to the short side […] Read more
Baltic Dry Index edging higher
CNS Canada — The Baltic Dry Index is edging back to levels not seen in over two months, and could be due for more strength, as seasonal trends often see the index rise during the summer and fall. The BDI settled at 694 points on Wednesday, having gained over 100 points over the past two […] Read more
ICE weekly outlook: Canola clawing back from sharp losses
CNS Canada — ICE Futures Canada canola contracts were slowly clawing their way back after dropping to their weakest levels in three months over the past week. The market likely has more room to the upside, although weather conditions will be a major factor driving prices through the summer months. “Canola was ridiculously cheap relative […] Read more
Canada’s canola, pulse acres rise at grains’ expense
CNS Canada — Canadian farmers adjusted their acreage ideas to seed more canola and pulses at the expense of grains, according to the updated Statistics Canada field crop area report released June 29. The adjustments were largely in line with trade guesses — and attention in the markets is quickly turning back to weather conditions. […] Read more
More canola and pulses, less wheat expected in Canada
CNS Canada — Canadian farmers likely seeded more canola and pulse acres than originally thought this spring, but less wheat, according to average trade estimates ahead of Statistics Canada’s next official survey results due out June 29. Poor returns per acre and frustrations over grading issues had some farmers backing away on wheat, said Jerry […] Read more
Cash oats disconnect from falling futures
CNS Canada — Oat futures at the Chicago Board of Trade may be trending lower, but any further losses in the futures will only cause basis levels in the Canadian countryside to widen further, as farmers are reluctant to sell below their targeted levels. The delivery specs against CBOT oats futures are not milling quality, […] Read more