MarketsFarm — A further tightening in Canada’s mustard supply is the main culprit in recent price spikes for the seed. Yellow mustard in Western Canada has a high-delivered bid of $1.61/lb., up 10 cents from last month and $1.18 higher than last year, according to Prairie Ag Hotwire data. Over the past month, the high-delivered […] Read more
Rising prices could lead to more mustard acres
Feed weekly outlook: Big demand lacking for barley, wheat
MarketsFarm — Prices for feed barley have swung a little higher over the last week — but it’s not due to feedlots needing a lot of the cereal, according to Brandon Motz of CorNine Commodities at Lacombe, Alta. Barley prices, he said, were $420-$424 per tonne delivered into Lethbridge, with offers as high as $445 […] Read more
Gasoline, diesel prices set to continue rising
MarketsFarm — The steady rise in crude oil prices is based on three factors, according to Tom Kloza, global head of energy analysis for Oil Price Information Service at Lakewood, N.J. One of those factors is the amount of crude oil produced by members of the Organization of Petroleum Exporting Countries (OPEC), along with some […] Read more
ICE weekly outlook: Rangebound canola market consolidating
MarketsFarm — ICE Futures canola contracts moved lower during the week ended Wednesday before uncovering some support, as the commodity remained stuck in a range after trending higher for most of the past year. “Canola is caught in a rangebound, consolidation phase,” said MarketsFarm Pro analyst Mike Jubinville. The relative stability in canola, he said, […] Read more
CBOT weekly outlook: Russia-Ukraine conflict causes wheat market volatility
MarketsFarm — Conflicting reports and accounts from the ongoing geopolitical tensions between Russia and Ukraine have had an effect on the markets, especially on the Chicago Board of Trade (CBOT), over the past week. The March Chicago wheat contract had ranged from $7.65 to $8.15 per bushel during the week, but lack of precipitation in […] Read more
Pulse weekly outlook: Chickpea prices lower but still very good
MarketsFarm — Although prices for chickpeas have pulled back somewhat over the last month, Colin Young of Midwest Grain at Moose Jaw, Sask. emphasized the market has not turned bad in any manner. “It’s just the level of expectation we had, given the rise in prices of other commodities. Given that we were out there […] Read more
Tim Hortons, Burger King parent to hike prices
BK pulling Whopper off discount menu
Reuters — Burger King parent Restaurant Brands International said on Tuesday that it stripped its most famous sandwich, the Whopper, from discount menus and will raise menu prices again this year as to offset higher costs. U.S.-listed shares of the company rose more than three per cent after it topped results estimates for the fourth […] Read more
Klassen: Demand increases for lighter-weight feeder cattle
Compared to last week, western Canadian yearling prices were unchanged to $4 higher. Mid-weight feeders from 660 to 750 pounds traded $2 to as much as $6 higher on average. Feeder cattle in the 550- to 650-lb. range traded $4 to as much as $10 higher. Feeder cattle under 550 lbs. were up $10-$20 depending […] Read more
ICE weekly outlook: No independent strength left in canola
MarketsFarm — At a little more than halfway through the 2021-22 marketing year for canola, a trader asserted the Canadian oilseed now lacks the ability to move independently. Rather, it will follow the ups and downs in oil and meal markets. “[Canola] did its thing months ago,” trader Ken Ball of PI Financial in Winnipeg […] Read more
Klassen: Diverse price behaviour seen in feeder market
Last week’s price action in western Canadian feeder markets was quite variable. Yearling prices were steady to $4 lower on average across the Prairies. Mid-weight cattle were down $3-$4 in Alberta and $2-$4 higher in Manitoba. Calf prices were also mixed. In eastern Saskatchewan and Manitoba, calves traded $2 to as much as $8 above […] Read more