CNS Canada — The supply/demand balance sheets for Canada’s wheat, barley and canola crops will likely see some adjustments after Statistics Canada’s stocks report is released Thursday. The report on grain and oilseed stocks as of Dec. 31, 2015 will provide a better indication of feed usage to date, while also helping confirm the official […] Read more
StatsCan stocks report to add piece to supply/demand puzzle
Firm loonie cuts into Prairie spring wheat bids
CNS Canada — Cash spring wheat bids across Western Canada moved lower during the week ended Friday, as continued strength in the Canadian dollar more than countered any support from advances in U.S. futures. Average Canada Western Red Spring (CWRS) wheat prices were down by $3 to $5 per tonne over the week, according to […] Read more
Baltic Dry Index trolls new depths, again
CNS Canada — The ocean floor remains one of the few unexplored mysteries of the world — but commodity shippers are now exploring how much lower the floor can go for the cost of ocean freight. The Baltic Dry Index (BDI) was quoted at 325 points on Thursday, marking a new low since records began […] Read more
Prairie spring wheat bids dip as loonie rises
CNS Canada — Cash spring wheat bids across Western Canada moved lower during the week ended Friday, as volatile activity in the Canadian dollar caused basis levels to soften. Average Canada Western Red Spring (CWRS) wheat prices were down by $3-$6 per tonne over the week, according to price quotes from a cross-section of delivery […] Read more
Feed barley market steady, gains expected in spring
CNS Canada — The feed barley market is holding relatively steady in Alberta early in the New Year, but advances are expected looking ahead to the spring. “There has been a fair bit of selling (over the past few weeks) but that hasn’t really pressured prices down any further,” said Jared Seitz of grain brokerage […] Read more
Falling loonie boosts Prairie spring wheat bids
CNS Canada — Cash spring wheat bids across Western Canada moved higher during the week ended Friday, as declines in the Canadian dollar helped basis levels improve. Average Canada Western Red Spring (CWRS) wheat prices were steady to as much as C$5 per tonne higher over the week, according to price quotes from a cross-section […] Read more
ICE weekly outlook: Canola stuck in sideways range
CNS Canada –– ICE Futures Canada canola contracts posted small losses during the week ended Wednesday, but remained rangebound overall. That sideways activity is expected to continue over the next month or so, as large supplies and increased farmer selling, on the one side, is countered by solid end-user demand and the weaker Canadian dollar. […] Read more
Ocean freight cost index breaks another floor
CNS Canada — The Baltic Dry Index (BDI) continues its downward slide, dropping below 400 points for the first time ever as ocean freight rates struggle to find their bottom. The BDI was quoted at 394 points on Wednesday, marking a new low since records began in 1985. The index was trading above 1,200 as […] Read more
U.S. wheat up with short-covering, but more downside possible
CNS Canada — U.S. wheat futures hit contract lows over the past week, before seeing a short-covering correction in recent days. However, with ample world supplies and poor export demand, the path of least resistance likely remains lower, according to market participants. The fundamentals are pretty bearish for wheat, but the market structure is looking […] Read more
Baltic Dry Index continues downward slide
CNS Canada — A downtrend in ocean freight rates shows no sign of letting up, as the Baltic Dry Index again hit fresh historic lows. The Baltic Dry Index (BDI) was quoted at 445 points on Thursday, marking a new low since records began in 1985. The index was trading above 1,200 as recently as […] Read more