CNS Canada — Soybean and corn futures at the Chicago Board of Trade trended down over the past two weeks, testing some contract lows in the process. While the potential for a short-covering bounce is there, further losses are also a distinct possibility, depending on what happens in outside energy markets. “Unless we see an […] Read more
CBOT weekly outlook: Weak soybeans, corn watch energy, USDA for direction
Prairie spring wheat bids down with U.S. futures
CNS Canada — Cash spring wheat bids across Western Canada moved lower during the two-week holiday period ending Thursday (Dec. 31), as the U.S. futures also drifted lower during that time frame. Average Canada Western Red Spring (CWRS) wheat prices were down by C$7-$8 per tonne during the two-week period, according to price quotes from […] Read more
ICE weekly outlook: Canola still rangebound on charts
CNS Canada — ICE Futures Canada canola contracts broke above major resistance levels this week, hitting levels not seen since August. However, as they say, what comes up must come down — and prices were well off of those highs by Tuesday’s close, bringing the market back within its long-standing trading range. The most active […] Read more
Prairie spring wheat bids down as basis erodes
CNS Canada –– Cash spring wheat bids across Western Canada moved lower during the week ended Friday, as basis levels deteriorated. Average Canada Western Red Spring (CWRS) wheat prices were down by C$1-$5 per tonne during the week, according to price quotes from a cross-section of delivery points across the Prairie provinces. Average prices ranged […] Read more
Ocean freight rate index at historic low, again
CNS Canada –– The Baltic Dry Index, which gauges the price of moving grain and other goods by sea, is down to new historical lows, less than a month after setting the former floor. The BDI, compiled daily by the London-based Baltic Exchange, was quoted at 471 points on Wednesday after falling below 500 points […] Read more
Lentil prices just keep rising
CNS Canada — Lentil prices just keep moving up in Western Canada, with no end in sight to the rising market as end users work to book coverage. However, the high prices may prove unsustainable, especially in the long run, as values are already expensive for international buyers and strong new-crop prices should lead to […] Read more
Prairie spring wheat bids rise with U.S. futures
CNS Canada –– Cash spring wheat bids across Western Canada moved higher during the week ended Monday, as gains in U.S. futures and continued weakness in the Canadian dollar both provided support. Average Canada Western Red Spring (CWRS) wheat prices were up by C$3-$6 per tonne during the week, according to price quotes from a […] Read more
Huge Canadian canola crop beats expectations
CNS Canada — An upward revision to Canada’s 2015-16 canola crop was widely anticipated in the industry, but Statistics Canada’s latest survey results have surpassed even the most optimistic forecasts — and will lead to major adjustments in the country’s supply/demand balance sheet. StatsCan on Friday pegged the year’s canola production at 17.2 million tonnes, […] Read more
Canola crush margins hit best levels in months
CNS Canada –– Canola crush margins have improved considerably over the past few weeks, hitting levels not seen in over six months, as vegetable oil prices rose and the Canadian dollar dropped. Crush margins provide an indication of the profitability of the product values relative to the seed cost when processing canola, with exchange rates […] Read more
ICE weekly outlook: Canola watching currency markets
CNS Canada — ICE Futures Canada canola contracts moved higher during the week ended Wednesday, but further gains may be hard to come by without more support from the currency markets. “We’ve been held up here by the weaker Canadian dollar,” said Jerry Klassen, manager of the Canadian office for Swiss-based GAP S.A. Grains and […] Read more