Reading Time: 3 minutes CNS Canada — The difference between futures markets and cash markets for any exchange-traded commodities can usually be brought into focus by the basis — that is, except in Prairie wheat, where that focus has now gone fuzzy. Typically, a wide or narrow basis provides some indication of how representative the futures market is of […] Read more
Wheat basis muddied in Western Canada
All crops not equal in face of weakening dollar
Reading Time: 2 minutes CNS Canada –– With the Canadian dollar falling to its weakest levels relative to its U.S. counterpart in six years, the general sentiment holds it should be good news for exporters, such as Canadian grain farmers. However, any net benefit may depend on what exactly is being exported and who is doing the buying, according […] Read more
Prairie crop acres forecast to rise across the board
Reading Time: 2 minutes CNS Canada –– Just about every major crop grown in the Canadian Prairies is forecast to come out a winner in the annual fight for acres this year, with unseeded area the only place where reductions are forecast, according to early estimates. “Most crops are likely to increase this year, just because we’ll get the […] Read more
Prairie CWRS bids improve slightly despite weaker futures
Reading Time: 2 minutes CNS Canada — Average cash bids for Canada Western Red Spring (CWRS) wheat generally moved higher during the week ended Friday, despite continued weakness in U.S. futures, as basis levels improved in many areas. Average CWRS prices were steady to up by as much as $4 per tonne, with the highest average bids in Manitoba, […] Read more
Mild weather poses risks for Prairie winter wheat
Reading Time: 2 minutes CNS Canada — Milder-than-normal temperatures across Western Canada over the past week could raise some issues for its winter wheat crops, though snow cover and conditions through the rest of the winter will also be important. “It’s not ideal conditions for winter wheat, and I’d anticipate that we’d see some damage,” said CWB analyst Bruce […] Read more
Seasonal pressures to weigh on CBOT soybeans, corn
Reading Time: 2 minutes CNS Canada — Soybean futures at the Chicago Board of Trade (CBOT) moved lower during the week ended Wednesday and could be due for more losses, given the seasonal trends and looming South American crops. “As long as South America has no real weather problems… it will be hanging over the soybean market,” said Scott […] Read more
More downside than upside for Prairie flaxseed bids
Reading Time: 2 minutes CNS Canada — Flaxseed prices remain strong in Western Canada, but that strength is relative and there are more bearish than bullish factors in the background which should weigh on values over the next few months. Spot flaxseed bids can currently be found in the $13-plus per bushel area, while new-crop is in the $11 […] Read more
Prairie CWRS bids ease with U.S. futures, CPSR up
Reading Time: 2 minutes CNS Canada — Average cash bids for Canada Western Red Spring (CWRS) wheat deteriorated slightly during the week ended Friday, with losses in U.S. futures weighing on values. However, most other classes of wheat saw a slight improvement, as basis levels narrowed in. Average CWRS prices were generally down by about C$1 to $2 per […] Read more
ICE weekly: Canola strength may be limited
Reading Time: 2 minutes CNS Canada — ICE Futures Canada canola contracts were mixed during the week ended Wednesday, with the most active front months posting gains and losses in the more deferred positions. While there is still more room to the upside, weakness in CBOT soybeans could spill over to pull the Canadian futures down. The open interest […] Read more
Declining wheat futures watch corn for further direction
Reading Time: 2 minutes CNS Canada — U.S. wheat futures have posted large losses over the past three weeks, but will be watching corn to provide some further direction in the near future, according to a wheat broker. The U.S. Department of Agriculture releases a number of closely watched reports on Monday (Jan. 12), including winter wheat seedings, quarterly […] Read more