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
CBOT weekly outlook: Soy faces bullish charts, bearish fundamentals
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
CBOT weekly outlook: Falling greenback boosts U.S. grains
Reading Time: < 1 minute CNS Canada — Soybean, corn and wheat futures in the U.S. are all seeing some strength from weakness in the U.S. dollar, and could have more room to the upside as speculators cover large net short positions. “The managed money is just looking for trades of value,” said Sean Lusk of Walsh Trading in Chicago. […] Read more
Prairie grain movement not perfect, but not in crisis
Reading Time: 2 minutes CNS Canada — Canadian grain exports are moving out of the country at a similar pace as they were a year ago, but there are still some challenges along the logistical chain. “Right now we’re looking at the second largest supply of grain that we’ve ever had to move,” said Mark Hemmes, president of Quorum […] Read more
Funds building large net short position in canola
Reading Time: < 1 minute CNS Canada — Fund traders are sitting on large net short positions in ICE Futures Canada canola and likely have room to add to those positions, which should keep values under pressure. While there is no official reporting on fund positions in the ICE Futures Canada market, as there is in the U.S., traders estimate […] Read more
ICE weekly outlook: Sideways canola looks for direction
Reading Time: < 1 minute CNS Canada — ICE Futures Canada canola contracts remain stuck in a sideways trading pattern, with little hint of which way values will eventually break. Canola “is getting tugged from different sources,” said Ken Ball of PI Financial in Winnipeg, adding that “it could go up or down $5 depending on what happens around it.” […] Read more
Steady to lower durum market expected
Reading Time: 3 minutes CNS Canada — Larger-than-expected production, a seasonal slowdown in demand and looming Italian country-of-origin-labeling regulations all loom over the Canadian durum market, with steady to lower prices anticipated over the next few months. Italian COOL regulations are set to come into effect in mid-February and require pasta makers in the country to segregate foreign durum, […] Read more