Reading Time: < 1 minute CNS Canada — ICE Futures Canada canola futures remain stuck in a rather narrow range, with seasonal harvest pressure weighing on the one side while solid demand provides support on the other side. “We’ve been in a sideways trading environment for 2-1/2 years, and I don’t see that changing,” said Mike Jubinville of ProFarmer Canada. […] Read more
ICE weekly outlook: Canola rangebound at harvest time
Traders look to new crop following StatsCan stocks estimates
Reading Time: 2 minutes CNS Canada — Canadian canola stocks were relatively tight at the close of the 2016-17 crop year, which should be underpinning the market as the trade works to get a better handle on new-crop production. In a report released Wednesday, Statistics Canada pegged Canadian canola supplies as of July 31 at 1.35 million tonnes, compared […] Read more
Visible Canadian canola stocks tightest in four years
Reading Time: < 1 minute CNS Canada — Canola supplies in commercial hands in Canada dropped to their tightest level in four years, according to the latest data from the Canadian Grain Commission for the week ended Sunday. Visible canola supplies, at 511,500 tonnes, are down from the already tight level of 556,700 posted the previous week, and represent the […] Read more
StatsCan production survey timing likely to skew results
Reading Time: 2 minutes CNS Canada — Production of Canada’s major crops is generally expected to be down on the year after an adverse growing season in many areas. However, actual production may not end up as low as the estimates set to be released by Statistics Canada on Thursday, due to the timing of the survey. The survey […] Read more
ICE weekly outlook: Canola rangebound ahead of harvest
Reading Time: < 1 minute CNS Canada — ICE Futures Canada canola contracts moved off of chart support during the week ended Wednesday, to hit its highest levels in two weeks. However, the market remains rangebound overall, as traders wait to get a better handle on the size of this year’s crop. With harvest operations just starting, Jamie Wilton of […] Read more
Canadian wheat bids decline with U.S. futures, but basis improves
Reading Time: 2 minutes CNS Canada – Hard red spring wheat bids in Western Canada moved lower during the week ended August 3, as declines in the US futures weighed on prices. However, weakness in the Canadian dollar provided support and helped basis levels see some modest improvement. Depending on the location, average Canada Western Red Spring (CWRS) wheat […] Read more
Soybean, corn market futures await USDA data
Reading Time: < 1 minute CNS Canada – Improving Midwestern weather forecasts weighed on soybean and corn futures at the Chicago Board of Trade during the week ended August 2, with all eyes now turning to upcoming USDA data. The USDA is set to release a number of key reports on August 10, including updated world supply/demand numbers and US […] Read more
Good quality, but small caliber Canadian chickpeas expected
Reading Time: 2 minutes CNS Canada – Hot and dry conditions cut into the yield potential and physical size of Canada’s chickpea crop, but the quality should be excellent while prices remain relatively strong. “It’s anybody’s guess,” said Colin Young, of Midwest Grain Ltd. in Saskatchewan on the overall state of the chickpea crop. He said rainfall was “significantly […] Read more
Canola market dips to rally, heat stress hits wheat crops
Reading Time: 2 minutes CNS Canada – The ICE Canada canola market had a bit of a wild ride during the week ended July 28, with the November contract falling to its lowest level of the past month at one point before the brakes were hit on the drop and the market rallied $25 in three days. Fund traders […] Read more
Canadian wheat decline with U.S. futures, rising loonie
Reading Time: 2 minutes CNS Canada – Hard red spring wheat bids in Western Canada lost ground during the week ended July 28, as declines in the US futures and strength in the Canadian dollar both weighed on prices. Depending on the location, average Canada Western Red Spring (CWRS) wheat prices were down by C$8 to C$11 per tonne […] Read more