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
Ocean freight rate index climbs
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
Prairie wheat bids rise with U.S. futures
Reading Time: 2 minutes CNS Canada — Cash spring wheat bids across Western Canada moved higher during the week ended Friday, as domestic bids tracked gains in U.S. futures. Depending on the location, average Canada Western Red Spring (CWRS) wheat prices were up by $5 to $8 per tonne over the course of the week, according to price quotes […] Read more
Oats’ buyers, sellers far apart on price
Reading Time: < 1 minute CNS Canada — Farmers with oats to sell and end-users willing to buy them are far apart in terms of price right now, limiting how much business is actually taking place. Major U.S. customers are well covered for the time being, “with enough to last for a few months worth of milling,” said Ryan McKnight […] Read more
ICE weekly outlook: Canola recovers, but faces resistance
Reading Time: 2 minutes CNS Canada — ICE Futures Canada canola contracts managed to post small gains over the week ended Wedensday, as the market recovered off of the contract lows hit the previous week. However, former support levels are now acting as resistance, as the market finds itself in a new, slightly lower range. Support in the front […] Read more
Mild winter, poor snow cover watched in Alberta, Saskatchewan
Reading Time: 2 minutes CNS Canada –– A milder than normal winter, with a lack of significant snow cover across much of Alberta and Saskatchewan, may be raising concerns in parts of the Prairies — but there is still plenty of time before spring seeding will begin. “There’s not much moisture there,” said Harry Brook, crop specialist with Alberta’s […] Read more