Reading Time: < 1 minute CNS Canada — ICE Futures Canada canola contracts moved lower overall during the week ended Wednesday, as the bearish influence of the rising Canadian dollar countered any spillover support from gains in CBOT soybeans. CBOT soybeans climbed sharply over the course of the week. However, the Canadian dollar has also posted solid gains over the […] Read more
ICE weekly outlook: Canola wary of soybean rally
North Africa showing solid demand for durum
Reading Time: 2 minutes CNS Canada –– North African countries have been some of the best customers for Canadian durum over the past few months, and weather issues with this year’s crops in the region should keep that demand solid going forward. As of February, Morocco, Tunisia and Algeria combined have imported 1.3 million tonnes of Canadian durum during […] Read more
North Dakota wheat acres seen likely to beat forecast
Reading Time: < 1 minute CNS Canada — North Dakota farmers will be seeding less spring wheat this year — but the acreage may not be down by as much as the U.S. Department of Agriculture now forecasts. In its Prospective Plantings report, released last Thursday, USDA forecast North Dakota spring wheat area for 2016 (excluding durum) at 5.7 million […] Read more
ICE weekly outlook: Canola ebbs, flows in wide range
Reading Time: < 1 minute CNS Canada –– ICE Futures Canada canola contracts have moved steadily higher over the past month, but the market remains rangebound overall. “There are underlying supportive influences for canola, but it still comes down to the bigger trends in vegetable oils and oilseeds competing internationally,” said Mike Jubinville of ProFarmer Canada, adding that “there’s a […] Read more
Ocean freight rate index climbs
Reading Time: < 1 minute CNS Canada — Ocean freight rates have shown some steady strength over the past two months, with the Baltic Dry Index (BDI) back above 400 points. The BDI set a record low of 290 points on Feb. 10-11, but has since posted steady gains, settling at 409 on Tuesday. While that’s still a far cry […] Read more
Prairie spring wheat bids rise as loonie falls
Reading Time: 2 minutes CNS Canada — Cash spring wheat bids across Western Canada moved higher during the week ended Thursday, as weakness in the Canadian dollar helped prop up prices. Depending on the location, average Canada Western Red Spring (CWRS) wheat prices were up by $5-$8 per tonne over the course of the week, according to price quotes […] Read more
Feed barley due for spring rally
Reading Time: 2 minutes CNS Canada –– Feed barley in Western Canada usually sees a spring rally at this time of year, although the uptrend this year will be limited by large supplies still overhanging the market. Feed grains had trended lower through late February and into early March, with feed wheat leading to the downside. Losses in feed […] Read more
ICE weekly outlook: Canola turning sideways
Reading Time: < 1 minute CNS Canada –– ICE Futures Canada canola contracts hit some of their best levels in a month during the week ended Wednesday, but appear to have run into resistance from a chart standpoint as the near-term outlook shifts sideways. The May contract hit a session high of $476 per tonne on Tuesday, but was unable […] Read more
Canola crush hits new weekly record
Reading Time: < 1 minute CNS Canada — Canadian canola processors are running at close to full capacity, despite any softness in crush margins, with the weekly crush hitting its largest level ever, according to the latest data from the Canadian Oilseed Processors Association (COPA). The weekly canola crush hit 188,081 tonnes during the week ended Wednesday, topping the previous […] Read more
CBOT weekly outlook: Trade now watching weather
Reading Time: < 1 minute CNS Canada — Soybean and corn futures at the Chicago Board of Trade have posted solid gains over the past two weeks, but the rally may run out of steam while attention in the markets shifts to spring weather patterns. “We’ve had a very strong rally since late February,” said Rich Feltes, vice-president of research […] Read more
A message from April Stewart, Country Guide's Associate Editor
