CNS Canada –– Both old- and new-crop canola contracts traded on the ICE Futures Canada platform climbed to new highs on Tuesday, with a bullish reaction to U.S. supply/demand data providing the catalyst for the rally. The most active July futures touched a session high of $544.60 per tonne, before settling Tuesday at $532.30. The […] Read more
Bullish canola futures hit new highs
StatsCan report confirms tightening canola, wheat supplies
CNS Canada — Canadian canola and wheat supplies are much tighter heading into the final months of the 2015-16 crop year than they were at the same point a year ago, according to Statistics Canada’s latest stocks report. StatsCan pegged the country’s canola stocks, as of March 31, at 7.49 million tonnes in its report […] Read more
CBOT weekly outlook: Soy, corn consolidating
CNS Canada –– Soybean futures at the Chicago Board of Trade appear to be running out of room to the upside, and are now consolidating after posting sharp gains through March and April. “A lot of positive news has now been discounted,” said Rich Feltes, vice-president of research at RJ O’Brien in Chicago, noting export […] Read more
StatsCan grain stocks data to confirm feed demand, production
CNS Canada — Just how much barley did Canadian cattle eat over the past winter? Will there be any old-crop wheat left over this year? And how much canola was really grown in 2015? Answers to these questions and more will be closer to being found when Statistics Canada releases its latest stocks data on […] Read more
Seeding underway in southern Alberta
CNS Canada — Alberta farmers are in the early stages of seeding this year’s crop, with operations expected to become more widespread over the next few weeks. “Southern Alberta is the most advanced, and (farmers) have been plugging away for as long as two weeks in some areas,” said Mark Cutts, a crop specialist with […] Read more
Weekly canola crush hits yearly low
CNS Canada — Canada’s weekly canola crush dropped sharply over the week ended Wednesday, but some of the decline is likely tied to an overstatement of what was processed the previous week. The weekly canola crush came in at only 110,909 tonnes, which compares with 180,078 tonnes the previous week, according to data from the […] Read more
ICE weekly outlook: Still room higher for canola
CNS Canada –– ICE Futures Canada canola contracts moved higher during the week ended Wednesday, with the biggest gains in the front months. While the market ran into some resistance on Wednesday, there is still more room to the upside from both a chart and fundamental perspective. “We’re still in an upward trend; we haven’t […] Read more
Prairie spring wheat bids mixed amid opposing outside factors
CNS Canada — Cash spring wheat bids across Western Canada were narrowly mixed during the week ended Friday, with prices up slightly in some locations and down in others. Spillover from gains in U.S. futures was offset by the bearish influence of the rising Canadian dollar. Depending on the location, average Canada Western Red Spring […] Read more
Rising durum acres offset by declining spring wheat
CNS Canada –– Increased durum acres in Canada may limit the upside potential as far as prices are concerned, but smaller spring wheat plantings will also limit the downside, according to a durum trader. Statistics Canada on Thursday pegged intended durum acres at 6.12 million acres, which would be up from 5.82 million in 2015. […] Read more
Record-low summerfallow expected
CNS Canada — Changing farm practices and moving world markets over the years have seen shifts in the makeup of the crops grown in Canada — but the most noticeable change in the past three decades may be the amount of land seeded to nothing. Heading into the 2016 growing season, Canadian farmers say they […] Read more