Reading Time: 3 minutes Harvest pressure and bearish chart signals kept the path of least resistance to the downside in the ICE Futures Canada canola market during the week ended Sept. 20. Prices drifted to their lowest levels of the past month, and will likely move lower still before the inevitable post-harvest bounce. On a daily chart, the November […] Read more
November canola moving toward test of contract low
Ag Canada ups production and export numbers for pulses and specialty crops
Reading Time: < 1 minute Agriculture and Agri-Food Canada has raised its production estimate for the 2012/13 and 2013/14 specialty and pulse crops in its latest supply-and-demand report, released on Sept. 18. Total production of the special and pulse crops is now pegged at 5.538 million tonnes for 2013/14, up from 5.145 million tonnes in the August report, but below […] Read more
Wheat rally lacks legs and will fizzle in the face of rising supply
U.S. wheat exports are running at their fastest pace in years but predictions of a sustained price rally are overblown
Reading Time: 2 minutes Reuters / The recent uptick in U.S. wheat exports has convinced some traders that prices will buck their recent downward trend and go higher over the coming months. But while firm overseas demand, coupled with the conclusion of the U.S. winter wheat harvest, might well offer support to prices going forward, stiff competition from other […] Read moreCanada’s big wheat crop vies with U.S. for export sales
Reading Time: 3 minutes Reuters / Canada’s biggest wheat crop in more than two decades will send supplies from the No. 2 wheat exporter into unusual places, battling head-on with U.S. wheat, grain traders said. Canadian farmers are expected to harvest 30.6 million tonnes of wheat this autumn, counting all varieties, according to Statistics Canada. Nearly two-thirds of the […] Read more
Canada canola stocks tighter than expected; wheat supplies thin
Reading Time: < 1 minute Reuters / Canadian stocks of canola dropped to their lowest level in 15 years at midsummer, further than expected, and wheat supplies were the smallest in five years, Statistics Canada said Sept. 6. The national statistical agency, using a farmer survey, pegged canola stocks in commercial storage and farms at 608,000 tonnes as of July […] Read more
Uncertainty over U.S. crop underpins soybean prices
Reading Time: 2 minutes Harvest operations are picking up steam across Western Canada, and the increasing likelihood that the country will end up with a record-large canola crop this year kept the path of least resistance to the downside in the ICE Futures Canada market. The most active November contract lost over $20 per tonne on the week to […] Read more
U.S. corn growers may favour storage
Reading Time: < 1 minute U.S. farmers will hold corn rather than sell at prices that have dropped 30 per cent this year on expectations of a bumper harvest, predicts a U.S. Grains Council official. “In the glut of the harvest, we will likely trade lower than we are now, but because of farmers’ strong financial position, they will store […] Read more
CWB offers pooling program for yellow peas
Reading Time: < 1 minute CWB (formerly the Canadian Wheat Board) is branching out to include a pool for yellow peas in its second year as an independent grain marketer in Western Canada. In addition to its traditional wheat, durum, and barley pools, the CWB released its first-ever pool return outlooks (PROs) for field peas on Aug. 15, offering a […] Read more
U.S. corn production outlook pressures wheat futures
Reading Time: 2 minutes ICE Futures Canada canola contracts moved lower during the week ended Aug. 9, setting fresh lows in the process as the path of least resistance remains down despite any modest short-covering bounces in the interim. November canola dropped as low as $472.40 during the week, which was a nearly three-year low for a front-month contract. […] Read more
Prospect of bumper crop pushing down corn and soybean prices
The days of ‘beans in the teens’ may be ending, while corn might slide all the way to $4 a bushel
Reading Time: 2 minutes With last year’s drought largely behind them, American soybean and corn producers are eyeing bumper crops — and a sharp drop in price. Prices have already dropped significantly and the market will likely deliver more bad news in the coming weeks, said Sterling Smith, a futures analyst with Citigroup in Chicago. “We can attribute that […] Read moreCyber-Savvy Farmer
