CNS Canada — ICE Futures canola contracts will continue to drift downward for the foreseeable future, according to one analyst. “The demand isn’t here because the buyers know that the farmer is undersold and they have to sell it,” said Wayne Palmer, senior market analyst with Exceed Grain. The November canola contract dipped below the […] Read more
ICE weekly outlook: Canola’s downward spiral to continue
Canola, wheat crop size hiked in StatsCan’s view from space
CNS Canada — Statistics Canada raised its production estimates for most crops across Western Canada in its latest report released Wednesday. Unlike traditional StatsCan reports using information gathered from phone surveys, the model-based report was based in part on coarse-resolution satellite imagery collected during the month of August. The model-based report has only been in […] Read more
Mustard crops middling, should fare better than 2017’s
CNS Canada — Kevin Hursh expects he’ll soon hear some good news on his brown mustard crop. “It was probably my only crop that is going to make me a little bit of money,” he said. He’s still waiting to hear about grading based on the samples he shipped off to the lab, but he’s […] Read more
Wheat rally stalls at just the wrong time
Prices are off summer highs but a drop in global production sets the stage for another rally this winter
Reading Time: 3 minutes For much of this year’s hot, dry summer, Alberta wheat growers could look forward to higher prices to offset lower production. But now they can’t even count on that — at least not for the foreseeable future. “We have seen prices pulling back a little bit over the last few weeks,” FarmLink’s senior market analyst […] Read more
Smaller Manitoba soybean crop expected
CNS Canada — Like most crops grown this year, Manitoba’s soybean yields were also highly variable in 2018. While early reports point to smaller production overall, lower-than-average yields won’t translate to higher prices, given prospects for a large U.S. crop. Manitoba soybean yields are “anywhere from 20 to 50” bushels per acre, said Mark Jorgenson […] Read more
Large Canadian canola ending stocks expected
CNS Canada — Canada’s canola ending stocks as of July 31 came in at about a million tonnes above the previous year’s carryout — but were still well within trade expectations. Canola supplies as of July 31 were estimated at 2.391 million tonnes by Statistics Canada on Thursday, with 954,000 tonnes of that in commercial […] Read more
Ontario bean production seen well above StatsCan estimate
CNS Canada — Ontario bean growers are voicing skepticism of Statistics Canada’s Aug. 31 bean production estimates. Estimates by the Ontario Bean Growers organization suggest farmers are poised to harvest about 101,495 tonnes this year — 28.5 per cent above the Statistics Canada number of 79,000 tonnes. OBG chair Jim Gowland said his organization reaches […] Read more
ICE weekly outlook: Yields still up in the air
CNS Canada — ICE Futures canola contracts recovered off of nearby lows over the week ended Wednesday, but failed to rise to the same extent as the product values as the commodity remains expensive compared to other oilseeds. With the harvest underway across the Prairies, traders are focused on yield estimates and the size of […] Read more
Klassen: Feeder market reflects vulnerability
Compared to last week, western Canadian yearling markets traded within $5 on either side of unchanged. Strength was noted in the major feeding regions of Alberta while subdued buying interest was noted in other regions of the Prairies. Major operations focused on local cattle, especially in southern Alberta. Feature sales attracted larger crowds which enhanced […] Read more
U.S. grains: Corn, soy rise on short-covering
Chicago | Reuters — U.S. corn and soybean futures rose on Friday as traders covered short positions ahead of a long holiday weekend, but both commodities posted monthly declines as prospects for large U.S. harvests weighed on prices. Wheat climbed on technical buying, along with worries about tightening global supplies. Chicago Board of Trade December […] Read more
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