Reading Time: 2 minutes CNS Canada –– All three U.S. futures markets climbed higher over the past week, rising to some of their best levels of the year. There is some more room to the upside, but further gains may be short-lived, according to an analyst. “Wheat is getting tired,” said Randy Martinson of Progressive Ag at Fargo, N.D. […] Read more
U.S. wheat futures still rising, but ‘getting tired’
StatsCan canola area intentions come in below expectations
Reading Time: 2 minutes CNS Canada — Canadian farmers intend to seed less canola than most industry participants had anticipated this year, according to the first survey-based estimates from Statistics Canada, released Thursday. However, adjustments to actual seedings are still possible, as spring seeding has yet to begin across Western Canada. StatsCan pegged canola area at 19.8 million acres, […] Read more
ICE weekly outlook: Canola down, but still watching beans
Reading Time: < 1 minute CNS Canada — ICE Futures Canada canola contracts moved lower during the week ended Wednesday, hitting their softest levels in a month as bearish technical signals and increased farmer selling weighed on values. While the technical bias has turned lower, the Canadian market could still find some spillover strength from the CBOT soy complex, according […] Read more
Less wheat, more canola expected in Canada
Reading Time: 2 minutes CNS Canada — Canadian farmers are expected to seed less wheat and more canola in 2014, according to average trade guesses ahead of Statistics Canada’s planting intentions report due out Thursday. “Compared to last year, we’ll see less wheat,” said Jon Driedger of FarmLink Marketing in Winnipeg, estimating spring wheat area could be down by […] Read more
CWRS wheat cash bids edge down, basis steady
Reading Time: < 1 minute CNS Canada –– Cash bids for Canada Western Red Spring (CWRS) wheat held relatively steady during the week ended Monday, posting small losses in many locations in sympathy with the Minneapolis futures. Average spot bids for CWRS (13.5 per cent protein) across Manitoba, Saskatchewan and Alberta came in at around $197 per tonne, or $5.35 […] Read more
ICE weekly outlook: Charts up for canola, but little else
Reading Time: < 1 minute CNS Canada — ICE Futures Canada canola contracts posted solid gains during the week ended Wednesday, as prices broke above nearby resistance and speculators added to long positions. While there is still more room to the upside from a chart standpoint, an analyst cautioned there was little fundamental news to account for the gains. “The […] Read more
Logistics still propping up old-crop oats
Reading Time: < 1 minute CNS Canada — The oats futures market remains at a considerable inverse, with the old-crop May contract in Chicago trading at an 88-cent premium over the new-crop December as logistics issues continue to hamper Canadian grain movement. “There are oats on farm, but the U.S. mills are having a hard time physically taking possession,” said […] Read more
Specs book profits in soybeans, but trend still up overall
Reading Time: 2 minutes CNS Canada — Soybean futures at the Chicago Board of Trade moved higher during the week ended Wednesday, but profit-taking came forward to limit the advances. And while more speculative long liquidation is possible in the short-term, the longer-range trend remains pointed higher, according to an analyst. Soybeans had rallied in the lead up to […] Read more
ICE weekly outlook: Farmer selling to limit canola gains
Reading Time: 2 minutes CNS Canada — ICE Futures Canada canola contracts dropped sharply during the week ended Wednesday, but managed to recover off of those nearby lows with oversold price sentiment and an increase in commercial demand providing some support. Further gains may be hard to come by, however, as large unpriced supplies overhang the market. The nearby […] Read more
Malt barley supplies large ahead of new crop year
Reading Time: 2 minutes CNS Canada –– After seeing record yields in 2013, Canada could still be holding onto enough malt barley to supply the domestic industry for an entire year at the end of the current crop year. Those large supplies are cutting into prices, but buyers will still need fresh stocks due to germination issues, and may […] Read more
A message from April Stewart, Country Guide's Associate Editor
