MarketsFarm — A seemingly never-ending harvest across the Prairies has been responsible for a $10-$15 per tonne jump this month in feed grain prices, said Glen Loyns, general manager of JGL Commodities in Moose Jaw. “It’s probably gone up $5 this week,” Loyns said. This year’s extended harvest, coupled with large amounts of grain to […] Read more
Feed weekly outlook: Prolonged Prairie harvest pushes up grain prices
CWRS bids edge lower with Minneapolis futures, CPSR up
MarketsFarm – Wheat bids in Western Canada were mixed during the week ended Nov. 7, with a steady to lower tone in Canada Western Red Spring Wheat as a downtrend in the Minneapolis future weighed on values. However, the Chicago and Kansas City winter wheat contracts trended higher, which underpinned Canada Prairie Spring Red (CPSR) […] Read more
Fund traders increase canola short position
MarketsFarm – Commodity fund traders added to their net short positions in canola and corn over the past week, according to the latest Commitment of Traders (CoT) report compiled by the United States Commodity Futures Trading Commission (CFTC). Managed money traders were also on the sell side in soybeans, reducing their net long position in […] Read more
As ‘Cannabis 2.0’ kicks off, industry strangled by limited retail outlets
Reuters — A year after Canada legalized use of recreational marijuana, cannabis stocks have lost half their market value, and investors betting that the launch of higher-margin pot-infused drinks and other products will quickly lift shares may be in for a bumpy ride. So-called cannabis 2.0 — legalization of marijuana derivatives including edibles, beverages, extracts […] Read more
Feed weekly outlook: Snowfall boosts spot barley bids
MarketsFarm — Spot barley prices have received support from last weekend’s snows in southern Alberta, but the major barley-growing regions were mostly spared. While the cold and wet weather has delayed harvest activity, a promising forecast should allow for harvest to resume in the Red Deer area, where most of the barley crop is located. […] Read more
Trump says impeachment inquiry could derail North America trade deal
Washington/Mexico City | Reuters — U.S. President Donald Trump warned on Wednesday that an impeachment inquiry against him could derail congressional approval of a North America trade pact, dragging down Mexico’s peso and stock market as investors fled riskier assets. While U.S. Trade Representative Robert Lighthizer said he was confident the U.S-Mexico-Canada trade agreement would […] Read more
The news is not good — but it will get better, say market analysts
Harvest is one of the worst times to look for good news in wheat markets, but prices should soon rally
Reading Time: 3 minutes It’s not hard to find bad news these days when it comes to wheat markets. Recent news stories include the USDA surprising analysts by raising its production forecast (by 59 million bushels), European wheat fields coming through a record-breaking heat wave in fine shape, and the threat from Black Sea producers continuing to rise. (For […] Read more
U.S. livestock: Futures rally on choppy grains, hopes for Chinese buying spree
Chicago | Reuters – Chicago Mercantile Exchange (CME) live hog futures rallied on Tuesday, as competition among packers for spot delivery grew and animal weights slipped after the recent U.S. heat wave, traders said. Live cattle futures also inched up, supported in part by choppy trading in U.S. grain futures and growing questions of whether […] Read more
Early harvest pressures Prairie barley prices
CNS Canada — Barley prices in Western Canada are falling as an early harvest is weighing on values. “Prices have moderated here,” said Allen Pirness of Market Place Commodities Ltd. Lethbridge, Alta. The surprise rally from last week ended as quickly as it began. Prices which started last week at about C$250 per tonne were […] Read more
ICE weekly outlook: Canola to face pressure from northbound U.S. soy
CNS Canada — As Friday’s deadline nears for Chinese tariffs to be imposed on imports of U.S. soybeans, so too does the idea that eastern crushers could soon be bringing those unwanted beans into Canada. “Soybeans have become so cheap we’re going to find them leaking across the border, especially into Ontario,” said Mike Jubinville […] Read more