Chicago | Reuters — Chicago wheat futures slid on Thursday after the U.S. Department of Agriculture estimated global stocks were at a record high in its monthly supply and demand report, traders said. Soybean futures ended nearly unchanged as the USDA lowered export expectations, even after recent purchases from China supported prices. Corn advanced as […] Read more
U.S. grains: Wheat declines as USDA estimates record global stocks
Corn gains on ethanol estimates; soybean traders eye Chinese demand
Pulse weekly outlook: Chickpea acreage expected lower
MarketsFarm — High global prices in the 2017-18 marketing year caused a global spike in chickpea production in 2018. It’s since taken a while for consumers to “chew through supplies,” which has put pressure on prices, according to Chuck Penner of LeftField Commodities. In a kabuli chickpea global outlook webinar hosted by the Global Pulse […] Read more
Feed weekly outlook: Spring rally unlikely
MarketsFarm — Feed grain bids in Western Canada have held relatively steady over the past month despite large moves in many outside markets. However, a number of factors may weigh on values heading into the spring. Feed barley is trading in the $4-$4.95 per bushel area in Alberta, according to Prairie Ag Hotwire data. Prices […] Read more
USDA adjusts world rapeseed stocks estimates
Canadian carryout pegged above AAFC's estimate
MarketsFarm — World rapeseed ending stocks are forecast to tighten slightly in 2019-20 compared to earlier projections, according to an update from the U.S. Department of Agriculture’s Foreign Agriculture Service. The Oilseeds: World Markets and Trade report pegged world rapeseed carryout for the current marketing year at 6.307 million tonnes, down from the February estimate […] Read more
IGC calls for more wheat despite lowering global forecast
MarketsFarm — At close to 1.03 billion tonnes, there’s going to be more wheat in the world in 2019-20 than in the previous marketing year, according to the latest outlook from the International Grains Council (IGC). The London-based organization released its report on Jan. 23, in which it revised its previous forecast — but with […] Read more
ICE weekly outlook: Canola values steady after losses
Weaker loonie supportive for canola
MarketsFarm — Canola prices started the week plagued by reports of the rapidly-spreading coronavirus in China, but managed to shake off some of that resistance. At midweek, nearby ICE Futures canola contracts were between $461 and $470, after falling by over $8 on Monday. Crush margins have maintained strength, which supported canola values. Crush margins […] Read more
ICE weekly outlook: Canola still pressured by soybeans, rangebound
MarketsFarm — The trench in which ICE Futures January canola now finds itself is expected to hold firm, according to Ken Ball of PI Financial in Winnipeg. “We’re developing a range for the January contract that might hold up for a while, around $455-$467 roughly,” he said. “We could kick up and down in that […] Read more
ICE weekly outlook: Steady canola market stuck in rut
MarketsFarm — ICE Futures canola held within a narrow range during the week ended Wednesday, as the market waits for fresh news to push it one way or the other. “There are certainly some supportive elements underneath the marketplace,” said Mike Jubinville of MarketsFarm Pro, pointing to an upward trend in world vegetable oil prices […] Read more
Corn exports expected down in AAFC’s October outlook
MarketsFarm — Agriculture and Agri-Food Canada (AAFC) on Friday issued its October outlook for principal field crops, with some revisions compared to the September report. One of the most notable numbers from AAFC was the drop in 2019-20 corn exports, which were estimated to be about 1.5 million tonnes, over 20 per cent less compared […] Read more
StatsCan confirms record-large canola ending stocks
MarketsFarm — Canadian canola ending stocks hit a new record for the 2018-19 crop year, according to updated data Statistics Canada released Friday. Canadian canola stocks as of July 31 came in at 3.9 million tonnes, up by 55 per cent on the year and about 800,000 tonnes above the previous record set in July […] Read more
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