Reading Time: 2 minutes CNS Canada — Parts of the Sahara Desert received rare snowfall over the past week, with up to 40 cm falling in the Algerian desert town of Ain Sefra. That freak snow — only the third time in 40 years — made for some fantastic photographs before melting, but would be more welcome in Western […] Read more
More snow lately over the Sahara than the Prairies
CBOT weekly outlook: Markets await USDA reports
Reading Time: < 1 minute CNS Canada — Updated production, stocks and acreage numbers due out from the U.S. Department of Agriculture on Friday should provide some nearby direction for U.S. grain and oilseed markets. “I can’t really get too bullish on the bean market with the large USDA estimates hanging over our heads,” said Terry Reilly of Futures International […] Read more
ICE Canada Weekly Outlook: Canola stuck in sideways pattern
Reading Time: < 1 minute CNS Canada – ICE Futures Canada canola contracts may be showing some strength to start the New Year, but the overall trend remains sideways, according to an analyst. “Everything is hovering around C$500, which has been a magnet for the past year-and-a-half,” said David Derwin, Commodities Investment Advisor with PI Financial. The most active March […] Read more
CBOT weekly outlook: Corn, soy trade watching South America
Reading Time: < 1 minute CNS Canada –– Seasonal holiday trade could lead to some choppiness in the Chicago Board of Trade soybean and corn markets over the next week, although the general bias will likely remain pointed lower in the New Year, barring a weather scare out of South America. “There’s a reluctance to take on new positions ahead […] Read more
Bearish chart signals keep canola pointed lower
Reading Time: < 1 minute CNS Canada — Canola contracts on the ICE Futures Canada platform have lost roughly $30 per tonne over the past month and have more room to the downside from a chart standpoint. The nearby January contract settled Monday at $491.20 per tonne, just above the September low of $489.50. A break below that point would […] Read more
ICE weekly outlook: Canola sliding lower
Reading Time: < 1 minute CNS Canada — ICE Futures Canada canola contracts have trended lower for the past month and still have some more room to the downside heading into the New Year, according to an analyst. “I think we’ll go lower,” said Errol Anderson, of ProMarket Communications in Calgary, citing a number of bearish factors. Activity in the […] Read more
Baltic Dry Index nears four-year highs
Reading Time: < 1 minute CNS Canada –– The Baltic Dry Index has climbed sharply over the past two weeks, rising to its highest levels in nearly four years. The BDI settled at 1,662 points on Friday, having gained 300 points since the middle of November. The index was last above 1,600 in January 2014. The BDI is compiled daily […] Read more
Larger crops expected in StatsCan report
Reading Time: 2 minutes CNS Canada — Canada’s canola and wheat production likely ended up larger than earlier expectations, but just how much more remains to be seen, as industry participants await the Statistics Canada production report due out Wednesday. “The finish seemed to be better than what the weather looked like earlier in the year,” said Neil Townsend […] Read more
ICE weekly outlook: Big canola supply counters big demand
Reading Time: < 1 minute CNS Canada — ICE Futures Canada canola contracts fell to their lowest levels in a month earlier this week, but appear to have found some support from a chart standpoint. Solid demand on the one hand is being countered by large supplies on the other. “The demand component is powerfully strong,” said Mike Jubinville of […] Read more
Firm feed barley market capped by U.S. corn
Reading Time: < 1 minute CNS Canada — Feed barley bids in Alberta have shown some strength post-harvest and look to remain firm heading through the winter. However, the threat of U.S. corn imports will likely cap the upside. “Barley’s been on the rise here,” said Jared Seitz of Agfinity at Spruce Grove, Alta. Some U.S. corn was crossing the […] Read more