Reading Time: 2 minutes MarketsFarm — With the U.S. Department of Agriculture (USDA) set to issue its monthly supply and demand estimates (WASDE) on Friday, a broker said it will be a “tricky report.” That’s because of the impact Hurricane Ida had on the U.S. transportation system, according to Scott Capinegro of Barrington Commodities at Barrington, Ill. In particular, […] Read more
CBOT weekly outlook: ‘Tricky’ USDA report due Friday
ICE weekly outlook: Canola futures slide, cash prices might not follow
Weakness seen ongoing in soy complex
Reading Time: < 1 minute MarketsFarm — If the October soyoil contract on the Chicago Board of Trade (CBOT) falls to 55 U.S. cents/lb., it’s likely ICE Futures canola will drop to around $850 per tonne, according to analyst Errol Anderson of ProMarket Communications in Calgary. ICE November canola closed Wednesday at $890.80 per tonne, giving up $10.80 since the […] Read more
Feed weekly outlook: No surprises in latest barley numbers
Reading Time: 2 minutes MarketsFarm — Following the release of monthly supply and demand estimates from Agriculture and Agri-Food Canada (AAFC) Thursday, Brandon Motz of CorNine Commodities at Lacombe, Alta. wasn’t surprised at how low the numbers dropped, particularly for barley. Motz commented the harvest hasn’t been as good as initially thought, noting the AAFC report confirmed the situation […] Read more
CBOT weekly outlook: Factors worth watching
Oats showing recent strength
Reading Time: 2 minutes MarketsFarm — Choppiness in Chicago Board of Trade (CBOT) soyoil, a potential increase in corn prices and an upcoming production report from Statistics Canada are factors on which grains analyst Terry Reilly suggests keeping an eye. Soyoil has been hit by early reports that the U.S. Environmental Protection Agency was going to recommend to the […] Read more
Pulse weekly outlook: Lentils up on lower production, stronger demand
Reading Time: < 1 minute MarketsFarm — As with so many other crops on the Prairies, production of lentils will be lower this year due to the drought. However, MarketsFarm Pro senior analyst Mike Jubinville said the lentil crop likely fared a bit better than cereals or oilseeds. Earlier this year, Statistics Canada projected lentil production to come at about […] Read more
Prairie cash wheat: Big jump for durum
U.S. futures, lower loonie supportive for cash wheat bids
Reading Time: 2 minutes MarketsFarm — Wheat bids in Western Canada for the week ended Thursday were higher for Canada Western Red Spring (CWRS) and Canada Prairie Spring Red (CPSR) wheats, while there were sharp increases for Canada Western Amber Durum (CWAD). Gains in U.S. wheat markets supported values, as did a steep drop for the Canadian dollar. Average […] Read more
ICE weekly outlook: Canola remains expensive
Reading Time: 2 minutes MarketsFarm — Concerns over the likelihood of a much smaller canola crop than previously anticipated, coupled with a very tight supply situation, continued to underpin values this week. That price rationing in turn has kept canola more expensive than other edible oils, according to trader Keith Ferley of RBC Dominion Securities in Winnipeg. “The market […] Read more
ICE weekly outlook: Something of a tough week for canola
Reading Time: 2 minutes MarketsFarm – It was a bit of a tough week for canola on the Intercontinental Exchange (ICE), although there was something of a bright spot after the release of the August supply and demand estimates from the United States Department of Agriculture (USDA). As one trader put it, canola did its job by increasing in […] Read more
ICE weekly outlook: Major canola supply issues ahead
Reading Time: 2 minutes MarketsFarm – There’s a looming problem that’s on the verge of surfacing in the Canadian canola market – many growers will be unable to fulfill their contracts due to lower production. The drought across the Prairies dashed canola production estimates from the initially anticipated 20 million tonnes, to something that could be in the range […] Read more
Oat crop across Western Canada ‘not stellar’
Reading Time: 2 minutes MarketsFarm — As with most other crops on the Prairies, conditions are “not stellar” for oats, according to Shawna Mathieson, executive director for the Prairie Oat Growers Association. POGA directors from across the region who participated in a recent board meeting had a rather grim outlook on the coming harvest, she said. “Not a single […] Read more
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