Reading Time: < 1 minute Commodity News Service Canada – U.S. wheat futures are trading just above their weakest levels in 10 years, but the lows may be in for the time being as funds are already holding large short positions and attention turns to problems with the European crop. “We’re really just following the EU,” said wheat-broker Austin Damiani, of […] Read more
Weak U.S. wheat futures watching European crops
Canola drops hard, nearing major chart support
Reading Time: < 1 minute CNS Canada — ICE Futures Canada canola contracts fell below nearby chart support on Thursday, hitting their softest levels in four months. There is more room to the downside, but the market is also looking oversold. Fund traders were noted sellers on the move down, liquidating long positions and possibly moving to the short side […] Read more
Baltic Dry Index edging higher
Reading Time: < 1 minute CNS Canada — The Baltic Dry Index is edging back to levels not seen in over two months, and could be due for more strength, as seasonal trends often see the index rise during the summer and fall. The BDI settled at 694 points on Wednesday, having gained over 100 points over the past two […] Read more
ICE weekly outlook: Canola clawing back from sharp losses
Reading Time: < 1 minute CNS Canada — ICE Futures Canada canola contracts were slowly clawing their way back after dropping to their weakest levels in three months over the past week. The market likely has more room to the upside, although weather conditions will be a major factor driving prices through the summer months. “Canola was ridiculously cheap relative […] Read more
Canada’s canola, pulse acres rise at grains’ expense
Reading Time: 2 minutes CNS Canada — Canadian farmers adjusted their acreage ideas to seed more canola and pulses at the expense of grains, according to the updated Statistics Canada field crop area report released June 29. The adjustments were largely in line with trade guesses — and attention in the markets is quickly turning back to weather conditions. […] Read more
More canola and pulses, less wheat expected in Canada
Reading Time: 2 minutes CNS Canada — Canadian farmers likely seeded more canola and pulse acres than originally thought this spring, but less wheat, according to average trade estimates ahead of Statistics Canada’s next official survey results due out June 29. Poor returns per acre and frustrations over grading issues had some farmers backing away on wheat, said Jerry […] Read more
Cash oats disconnect from falling futures
Reading Time: 2 minutes CNS Canada — Oat futures at the Chicago Board of Trade may be trending lower, but any further losses in the futures will only cause basis levels in the Canadian countryside to widen further, as farmers are reluctant to sell below their targeted levels. The delivery specs against CBOT oats futures are not milling quality, […] Read more
Canola charts turn bearish
Reading Time: < 1 minute CNS Canada — ICE Futures Canada canola contracts have crashed hard the past few days, losing roughly $40 per tonne since hitting some of their highest levels of the past year the previous week, as speculators bailed out of long positions. The most active November contract settled at $493.60 per tonne on Tuesday, its weakest […] Read more
North American sunflowers looking good early
Reading Time: 2 minutes CNS Canada –– Sunflower crops in key growing regions of North America are in relatively good shape early in the season, according to reports. However, those good conditions have put some nearby pressure on values, with spot pricing expected to take some direction from the weather and acreage reports over the next few weeks. Sunflower […] Read more
‘Veil of uncertainty’ shrouds Churchill’s shipping season
Reading Time: 3 minutes CNS Canada — Manitoba’s Port of Churchill is facing an uncertain grain shipping season, as ownership of the Hudson Bay facility is still up in the air, months after owner OmniTrax announced plans to sell the port and the railway that serves it. Denver-based OmniTrax announced in late 2015 it had accepted a letter of […] Read more
A message from April Stewart, Country Guide's Associate Editor
