Reading Time: < 1 minute CNS Canada — Weekly Canadian canola exports hit their second-highest level of the marketing year to date during the latest reporting period, although total out-of-country business is still running behind the year-ago level. Canada exported 293,300 tonnes of canola during the week ended Sunday, according to the latest Canadian Grain Commission data. That compares with […] Read more
Canadian canola exports picking up
Tight high-protein supplies underpin Minneapolis wheat
Reading Time: 2 minutes CNS Canada — Spring wheat futures in Minneapolis are outpacing the Chicago and Kansas City winter wheats to the upside, and tight world supplies of higher-protein wheat should remain supportive until the 2017 North American crop becomes better known. “A lot of it is the protein market,” said analyst Bryan Strommen of Progressive Ag in […] Read more
CBOT weekly outlook: Soy, corn watch South American weather
Reading Time: < 1 minute CNS Canada — Soybean futures at the Chicago Board of Trade moved lower during the week ended Wednesday, while corn held steady, with South American weather conditions expected to provide much of the direction going forward. “We’re pretty much trading one weather report at a time,” said Sean Lusk, director of commercial hedging with Walsh […] Read more
Large yields keep Manitoba farmers looking to corn
Reading Time: 2 minutes CNS Canada — Manitoba corn growers saw record yields this year despite an adverse harvest — and that trend of big crops is expected to continue, as varieties improve and more farmers commit to the crop. “It appears that the trend is headed toward larger (corn) crops,” said Myron Krahn, president of the Manitoba Corn […] Read more
ICE weekly outlook: ‘Toppy’ canola could still go higher
Reading Time: 2 minutes CNS Canada — Canola futures have trended higher in the most active nearby contracts in recent weeks, but still remain underpriced compared to soybeans. From a chart perspective, ICE Futures Canada’s January contract is trading at the highest levels for the front month in two and a half years. However, while “the charts may be […] Read more
Focus on quality, not quantity following StatsCan report
Reading Time: 1 minute CNS Canada –– This year’s Canadian wheat production was up considerably from last year, according to updated estimates from Statistics Canada — but the quality of that crop remains questionable. All-wheat production (spring, winter and durum wheat combined) was pegged at 31.7 million tonnes in 2016-17, which compares with 27.6 million in 2015-16. Of that […] Read more
StatsCan report may raise more questions than answers
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
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