CNS Canada –– ICE Futures Canada canola contracts moved higher during the week ended Wednesday, as weather concerns mounted across the Canadian Prairies. While it’s still early in the Canadian planting season, persistent cool and wet conditions in many areas could lead to delays, said Mike Jubinville of ProFarmer Canada. Uncertainty over how much canola […] Read more
ICE weekly outlook: Rising canola watching weather
ICE weekly outlook: More gains likely for rising canola
CNS Canada — ICE Futures Canada canola advanced sharply on the week and has room to strengthen further, though resistance is on the horizon. Canola far outpaced Chicago Board of Trade (CBOT) soybeans in the week ending Wednesday, as the market gathered independent strength. Since last week, July canola advanced about $18 per tonne, closing […] Read more
Fear of feed expected to keep malt barley acres low
CNS Canada — Concerns about weather dictating the quality of malt barley is keeping producers from seeding the crop this year, one industry participant says, while weak prices offer no extra incentive. “Acres are definitely going to be down, because of the fear of getting feed barley, which is horrendously low-priced,” said Rod Green of […] Read more
Trade sees record Canadian canola acres as possibility
CNS Canada — Canadian farmers could be set to seed record-large canola acres in 2017, while wheat area is generally expected to be down on the year when Statistics Canada releases its first survey-based acreage estimates of the year on Friday. From a purely economic standpoint, “canola is historically the commodity that pays the bills,” […] Read more
ICE weekly outlook: Steady canola awaits acreage data
CNS Canada — ICE Futures Canada canola contracts fell to their lowest levels in six months during the week ended Wednesday, but uncovered support to the downside and may be entering a period of consolidation. “On canola, we’re seeing a stabilization period after a sharp downward move,” said Jerry Klassen, manager of Canadian operations with […] Read more
Falling farm gate prices highlight ‘long overdue’ topic
CNS Canada — Statistics Canada’s latest Farm Product Price Index marks a year of annual declines, predominantly led by the cattle sector. The whims of the market are one source of losses, but two producer group heads say the data call attention to the country’s processing sector. Year-over-year declines in Canada’s Farm Product Price Index […] Read more
StatsCan canola stocks in line with expectations
CNS Canada –– Canadian canola stocks may be tighter than a year ago and wheat stocks larger — but the updated numbers from Statistics Canada may also need more asterisks than normal. StatsCan, in a report released Friday, pegged Canadian canola supplies as of Dec. 31 at 12.159 million tonnes, down from 13.452 million at […] Read more
Large yields keep Manitoba farmers looking to corn
CNS Canada — Manitoba corn growers saw record yields this year despite an adverse harvest — and that trend of big crops is expected to continue, as varieties improve and more farmers commit to the crop. “It appears that the trend is headed toward larger (corn) crops,” said Myron Krahn, president of the Manitoba Corn […] Read more
StatsCan confirms drought impact on Ontario yield
Statistics Canada has confirmed what most farmers in Ontario knew this past summer: Hot and droughty conditions drove production of corn and soybeans almost 10 per cent lower than 2015 levels. StatsCan’s harvest report, released this week, also showed the large wheat crop in Ontario was a record, with a 56 per cent increase in […] Read more
ICE weekly outlook: ‘Toppy’ canola could still go higher
CNS Canada — Canola futures have trended higher in the most active nearby contracts in recent weeks, but still remain underpriced compared to soybeans. From a chart perspective, ICE Futures Canada’s January contract is trading at the highest levels for the front month in two and a half years. However, while “the charts may be […] Read more
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