Reading Time: 2 minutes CNS Canada –– The lateness of this year’s harvest will likely leave more questions than answers when Statistics Canada releases its final production estimates of the year Tuesday, as a significant portion of the crop was likely still on the fields when the survey was conducted. Model-based estimates released in September placed the canola crop […] Read more
StatsCan report may raise more questions than answers
Canola nearing chart resistance
Reading Time: < 1 minute CNS Canada –– ICE Futures Canada canola contracts have trended higher for the past two weeks, with a rally in Chicago Board of Trade soyoil providing an added boost on Wednesday. While the nearby technical signals may be pointing higher, canola is also nearing major chart resistance. The January contract closed Thursday at $527.40 per […] Read more
CBOT weekly outlook: Soy, corn still rangebound despite recent gains
Reading Time: < 1 minute CNS Canada — Soybean and corn futures at the Chicago Board of Trade moved higher during the week ended Wednesday, but have little fundamental reason to continue in that direction, according to an analyst. Looking at corn, that market will be stuck in a sideways trading range for the foreseeable future, according to Preston Zacharias, […] Read more
Most Canadian chickpeas headed for feed market
Reading Time: 2 minutes CNS Canada — Low yields and poor quality have caused Canadian chickpea price quotes to shoot higher. Very little of the crop actually falls under the top grades, however, leaving the bulk of the marketing to take place in the feed sector. “The chickpea harvest has been an unmitigated disaster,” said Colin Young of Midwest […] Read more
Rising durum bids topping out in Western Canada
Reading Time: 2 minutes CNS Canada — Durum bids in Western Canada posted solid gains over the past two months, with concerns over the quality of the crop behind much of the strength. Prices are showing signs of topping out, though — and the highs may be in for now. Spot durum bids in southern Saskatchewan, where the bulk […] Read more
Canola crush hits new weekly record
Reading Time: < 1 minute CNS Canada — Canadian canola crushers hit a new weekly record during the second week of November, processing more than 200,000 tonnes of canola for the first time ever. The canola crush during the week ended Wednesday came in at 203,951 tonnes, according to the most recent Canadian Oilseed Processors Association report. The previous record […] Read more
Baltic Dry Index hits highest levels in nearly two years
Reading Time: < 1 minute CNS Canada — The Baltic Dry Index has posted sharp gains over the past month, rising to its highest levels in nearly two years. The BDI settled at 1,257 points on Friday, having gained roughly 400 points over the past two weeks. The index was last this high in November 2014, and has shown steady […] Read more
ICE weekly outlook: Rangebound canola watches U.S., China
Reading Time: < 1 minute CNS Canada –– ICE Futures Canada canola contracts find themselves trading within a rather narrow range, with a downturn more likely than a move higher in the near term. “We have a bull and a bear that are yanking each other right now, and (canola) is quite flat,” said analyst Errol Anderson of ProMarket Communications […] Read more
Weaker loonie underpins Prairie wheat bids
Reading Time: 2 minutes CNS Canada — Cash spring wheat and durum bids in Western Canada moved higher during the week ended Monday, as weakness in the Canadian dollar helped underpin basis levels. Depending on the location, average Canada Western Red Spring (CWRS) wheat prices were up $1-$5 per tonne compared to the previous week. Average prices ranged from […] Read more
Rising oats bids possibly nearing top
Reading Time: < 1 minute Commodity News Service Canada – Oats futures at the Chicago Board of Trade and cash bids in Western Canada have shown some strength over the past month, but may not have much more room to the upside. “There was a bit of a panic in late October that pushed cash prices higher,” said Scott Shiels, […] Read more
A message from April Stewart, Country Guide's Associate Editor
