CNSC — ICE Futures Canada canola futures moved higher during the week ended Jan. 22, seeing a slight recovery after falling to fresh contract lows. The large Canadian canola supply situation and problems getting the product to end users because of logistics issues in Canada will keep the path of least resistance pointed lower, analysts said. […] Read more
ICE weekly outlook: Lower loonie may limit canola’s losses
Lower loonie keeps support under canola on downtrend
USDA's ending stocks estimates are bearish for wheat
Reading Time: 3 minutes ICE Futures Canada canola futures continued their recent downward trend during the week ended Jan. 10, holding just above record lows in the nearby contracts. The burdensome supply situation continued to overhang the canola market during the week, as did the technical bias that remains pointed lower. Canadian farmers produced a record-large 18 million tonnes […] Read more
Prairie wheat bids holding steady
Western Canadian wheat cash bids and basis levels were holding steady along with the U.S. futures markets during the week ending Monday. Average spot bids for Canada Western Red Spring (CWRS) at 13.5 per cent protein across Manitoba, Saskatchewan and Alberta came in at around $160 per tonne ($4.36 per bushel) based on pricing available […] Read more
Weak prices to slow expansion in Man. corn acres
Lower prices are expected to slow the expansion of corn acreage in Manitoba this spring. Last spring, 380,000 acres of corn were planted in Manitoba, a jump from 300,000 in 2012 and 180,000 in 2011. But a recent downturn in corn prices, due to large production in the U.S., is expected to curb farmer enthusiasm […] Read more
Prairie wheat bids fall with U.S. futures
Western Canadian wheat cash bids moved lower during the week ended Jan. 13, following the sharp declines seen in the U.S. futures markets following Friday’s bearish U.S. Department of Agriculture report. Average spot bids for Canada Western Red Spring (CWRS, 13.5 per cent protein) across Manitoba, Saskatchewan and Alberta came in at around C$160 per […] Read more
Cold temperatures not causing problems for Prairies’ winter wheat
Western Canada may be in the midst of a deep freeze, but the region’s winter wheat crops are none the wiser. “The crop sure is protected, there’s lots of snow,” said Jake Davidson, executive director of Winter Cereals Canada at Minnedosa, Man. “I would say that snow cover is more than adequate in most places.” […] Read more
ICE weekly outlook: Lower prices still to come
Canola futures may have moved lower and set fresh contract lows during the week ended Jan. 8, but the worst is yet to come. The outlook for canola prices is already grim, as the large Canadian supply situation, logistical problems moving the crop out of the country and the resulting expected large ending stocks are […] Read more
Prairie wheat bids ease for fourth straight week
Western Canadian wheat cash bids moved lower during the week ending Monday, marking four straight weeks of declines. Cash bids were following the continued downward trend seen in the U.S. futures markets. Average spot bids for Canada Western red spring wheat (CWRS, 13.5 per cent protein) across Manitoba, Saskatchewan and Alberta came in Monday at […] Read more
Bears beat down bulls on canola contract values
A slew of ‘panic’ selling from farmers worried prices are going to keep tumbling lower weighed on canola values
Reading Time: 3 minutes ICE Futures Canada canola contracts moved to fresh contract lows for the second straight week during the week of Dec. 9 to 13. Nearby contracts lost more than $30 per tonne, as there were more bearish than bullish factors pressuring the market. The January contract broke just below the key technical level of $440 per […] Read moreSoybean expansion to continue on Prairies
Manitoba and Saskatchewan growers planted and produced a record-large amount of soybeans this year — and the crop’s westward expansion is expected to continue in the future. According to Statistics Canada, Manitoba farmers planted 1.05 million acres of soybeans in 2013-14 and, with good yields, produced 1.07 million tonnes. Manitoba’s soybean crops got a late […] Read more
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