Reading Time: < 1 minute CNS Canada — ICE Futures Canada canola contracts appear to have finally run into some resistance after trending higher for all of February. While a return higher is possible, canola will take most of its direction going forward from what happens in outside markets. The May canola contract hit a three-month high of $531 per […] Read more
ICE weekly outlook: Canola backing away from resistance
Canola nearing chart resistance
Reading Time: < 1 minute CNS Canada — The ICE Futures Canada canola market remains in a steady uptrend from a chart standpoint, with the May contract posting gains Monday for the 11th straight session. However, the futures are getting very close to upper resistance. May canola settled Monday at $530.50 per tonne, after climbing by roughly $30 over the […] Read more
Pulse weekly outlook: Chickpeas a bright spot
Reading Time: 2 minutes CNS Canada — Western Canadian farmers may be set to plant fewer lentil and pea acres this spring, but chickpeas are looking to be one pulse crop that stands out. “Acres are definitely going to increase significantly,” said Colin Young of Midwest Grain at Moose Jaw. He expected to see a doubling in area from […] Read more
ICE weekly outlook: Canola looking cheap despite gains
Reading Time: < 1 minute CNS Canada — ICE Futures Canada canola contracts may be on the rise, but the commodity is actually looking cheaper to end-users, which should keep values supported going forward. “Canola is getting pulled higher, it’s not going up on its own,” said Ken Ball of PI Financial in Winnipeg. Recent strength in Chicago Board of […] Read more
Canola exports slow down in latest weekly report
Reading Time: < 1 minute CNS Canada — Weekly Canadian canola exports were down during the week ended Sunday, hitting their lowest level since September 2017, according to the latest Canadian Grain Commission data. Canada exported only 129,000 tonnes of canola during the latest reporting period, which compares with the previous five-week average of 194,800 tonnes. Total canola exports during […] Read more
CBOT weekly outlook: Soy faces bullish charts, bearish fundamentals
Reading Time: < 1 minute CNS Canada — Soybean futures at the Chicago Board of Trade posted solid gains over the past month on the back of weather concerns in Argentina. While there’s more room to the upside from a technical standpoint, the fundamentals are starting to become old news. “I think the Argentine story is a little bit exaggerated, […] Read more
Steady sunflower acreage expected
Reading Time: 2 minutes CNS Canada — Manitoba’s sunflower market is holding steady for the time being, with acres likely unchanged on the year despite shifts in the processing sector. PepsiCo last week announced it will shut its Spitz sunflower seed processing plant at Bow Island in southeastern Alberta and shift its production to the U.S. Meanwhile, Manitoba has […] Read more
ICE weekly outlook: Canola hits resistance
Reading Time: < 1 minute CNS Canada — ICE Futures Canada canola contracts moved higher over the past week, but may be running into resistance to the upside. “I’m sensing that canola is at the top end of the range,” said Errol Anderson of ProMarket Communications in Calgary, noting much of the recent strength was tied to advances in Chicago […] Read more
ICE weekly outlook: Sideways canola seeks spark
Reading Time: 2 minutes CNS Canada — ICE Futures Canada canola contracts remain stuck within a sideways trading range awaiting a spark that would push values one way or the other. “We could have had this conversation two months ago… canola is refusing to budge from a range,” analyst Mike Jubinville of ProFarmer Canada said of the lack of […] Read more
Cash oats steady despite climb in futures
Reading Time: < 1 minute CNS Canada — Oats futures at the Chicago Board of Trade have posted solid gains over the past month, but the cash market in Western Canada remains steady overall. “It’s been a nice little rally up,” said Scott Shiels, grain procurement manager with Grain Millers Canada on the 35 U.S. cents per bushel rise in […] Read more
A message from April Stewart, Country Guide's Associate Editor
