MarketsFarm — The ICE Futures canola market held rangebound during the week ended Wednesday, looking for some direction. “None of these markets are flashing any strong signals that there’s much going on… they’re waiting for fresh news and there isn’t much around right now,” said Ken Ball of PI Financial in Winnipeg. While uncertainty over […] Read more
ICE weekly outlook: Canola waiting on fresh news
U.S. grains: Corn, soy jump despite rising harvest as oil, equities gain
Accelerating harvest amid dry U.S. forecast caps gains
Chicago | Reuters — U.S. corn futures rebounded on Wednesday from four sessions of declines in a technical and fund-buying bounce fueled by rising crude oil and equities markets, more than offsetting seasonal pressure from an accelerating U.S. harvest. Soybean and wheat futures also advanced as global economic jitters eased and the dollar weakened. The […] Read more
China to release potash reserves
Move said to be intended to ensure supply, stabilize prices
Beijing | Reuters –– China’s state planner on Wednesday said the government would take measures to keep supply and prices of fertilizers stable, including releasing potash fertilizer reserves and ensuring imports reach farmers as it looks to bolster food security. The National Development and Reform Commission (NDRC) said it was one of 13 government departments […] Read more
CBOT weekly outlook: Harvest moving markets sideways
Updated, Sept. 22 — MarketsFarm — Harvesting continues to progress in both Canada and the United States, resulting in quiet activity at the Chicago Board of Trade (CBOT). “Right now during harvest, the corn, wheat and beans are all stuck in a narrow range,” said Ryan Ettner, trader for Allendale Inc. at McHenry, Ill. “For […] Read more
Supply/demand pushing up flax prices
Corrected, Sept. 23 — MarketsFarm — Prices for flax have skyrocketed in 2021, as the amount to be harvested has fallen while demand has increased, according to Dale McManus of Johnston’s Seeds at Welwyn, Sask. Johnston’s was paying $38 per bushel for golden flax picked up off of the farm, he said, and brown flax […] Read more
Grain exports running well behind year-ago pace
Prices, low stocks keep lid on demand
MarketsFarm — Canadian grain exports are running well behind the year-ago pace through the first few weeks of the 2021-22 marketing year, as smaller supplies and high prices limit offshore demand. Total exports of all of the major grains, oilseeds and pulses as of Sept. 12 of 3.162 million tonnes are down by about 2.1 […] Read more
U.S. grains: CBOT wheat up after mixed trade
Traders eye U.S. corn harvest results
Chicago | Reuters — Chicago Board of Trade wheat futures ended higher on Thursday after struggling for direction as traders assessed reduced harvest prospects in major exporting countries. Corn and soybean futures were little changed after topping two-week highs. Traders focused on global supply risks for wheat as Strategie Grains sharply lowered its projection for […] Read more
Feed weekly outlook: U.S. corn imports to supplement tight supplies
Feeders seeking barley would 'have to pay up'
MarketsFarm — The looming corn harvest in the United States should keep a lid on rising feed grain prices in Western Canada, with more corn expected to make its way into Canadian feedlots this winter. “U.S. corn should start landing in Lethbridge sometime in October or early November,” said Jim Beusekom, of MarketPlace Commodities at […] Read more
ICE weekly outlook: Canola remains rangebound
Trade predicts even smaller production
MarketsFarm — At least for the foreseeable future, ICE Futures canola is likely to remain rangebound, according to analyst David Derwin of PI Financial in Winnipeg. The November canola contract has support at $850 per tonne and when it bumps up to around $900 it’s quickly pulled back, he said. “Sideways is not very exciting, […] Read more
CBOT weekly outlook: Harvest lows possibly already in for soy, corn
MarketsFarm — Soybean and corn futures at the Chicago Board of Trade may have already hit their harvest lows for the season, despite the fact that the bulk of the harvest is still some time away. “Going forward, I think the short-term lows are probably established,” said Terry Reilly, of Futures International in Chicago. The […] Read more