CNS Canada — ICE Futures Canada canola contracts have crashed hard the past few days, losing roughly $40 per tonne since hitting some of their highest levels of the past year the previous week, as speculators bailed out of long positions. The most active November contract settled at $493.60 per tonne on Tuesday, its weakest […] Read more
Canola charts turn bearish
North American sunflowers looking good early
CNS Canada –– Sunflower crops in key growing regions of North America are in relatively good shape early in the season, according to reports. However, those good conditions have put some nearby pressure on values, with spot pricing expected to take some direction from the weather and acreage reports over the next few weeks. Sunflower […] Read more
‘Veil of uncertainty’ shrouds Churchill’s shipping season
CNS Canada — Manitoba’s Port of Churchill is facing an uncertain grain shipping season, as ownership of the Hudson Bay facility is still up in the air, months after owner OmniTrax announced plans to sell the port and the railway that serves it. Denver-based OmniTrax announced in late 2015 it had accepted a letter of […] Read more
CBOT weekly outlook: Bull still needs to be fed for corn, soy
CNS Canada — Fund money pulled soybean and corn futures at the Chicago Board of Trade (CBOT) to their highest levels of the past year in recent weeks, but profit-taking at the highs tempered gains as traders look for more fundamental reasons to keep the rally going. “It’s all about the weather, La Nina and […] Read more
MGEX spring wheat shows strength
CNS Canada — Minneapolis (MGEX) spring wheat futures have climbed back to their highest levels in two months and could remain strong relative to other wheat classes over the next few months, according to an analyst. The nearby July 2016 contract is trading at about US$5.50 per bushel, while the July 2017 contract is now […] Read more
ICE weekly outlook: Canola gains depend on soybeans
CNS Canada –– ICE Futures Canada canola contracts moved higher during the week ended Wednesday and may have more room to the upside, provided the market continues to see a boost from the U.S. soy complex. “Right now, this market does not want to go down,” said senior analyst Wayne Palmer of Agri-Trend Marketing, on […] Read more
Hemp industry scrambling to meet new Korean demand
CNS Canada — An explosion in demand for Canadian hemp out of South Korea is welcome news for the industry, but strict regulations may hamper just how much of that demand will be met this year. “The doors have blown off the market in Korea for hemp,” said Kim Shukla, executive director of the Canadian […] Read more
Canola crush margins at best levels of year
CNS Canada — Canola crush margins have improved considerably over the past few weeks, to sit at some of their best levels of the past year. Crush margins provide an indication of the profitability of the product values relative to the seed cost when processing canola, with exchange rates also factoring into the equation. As […] Read more
ICE weekly outlook: Canola in need of outside catalyst
CNS Canada — Canola contracts on the ICE Futures Canada platform held within a rather narrow range during the week ended Wednesday, but moved higher overall. However, further gains will take an outside catalyst, according to a market analyst. “There’s a very firm tone to the market,” said Errol Anderson of ProMarket Communications. Fund traders, […] Read more
Sun shines on oil sunflowers in Manitoba
CNS Canada — Shifting price trends will see Manitoba farmers plant more oilseed sunflowers this year but less of the confectionary varieties, according to industry participants. Manitoba accounts for nearly all of Canada’s sunflower production, with Statistics Canada forecasting planted area in 2016 at 80,000 acres. That would compare with 100,000 acres the previous year. […] Read more