Reading Time: < 1 minute CNS Canada — Average bids for Canada Western Red Spring (CWRS) and Canada Prairie Spring Red (CPSR) wheat were stronger during the week ended Monday, as improving basis levels more than compensated for declines in U.S. futures. Average spot bids for CWRS (13.5 per cent protein) across Manitoba, Saskatchewan and Alberta came in Monday at […] Read more
Improving basis boosts Prairie wheat bids
Ag Canada tightens grain/oilseed stocks projections
Reading Time: < 1 minute CNS — Ending stocks of Canada’s major grains and oilseeds at the close of the upcoming 2014/15 (Jul/Nov) crop year will be tighter than earlier projections, according to updated supply/demand tables released by Agriculture and Agri-Food Canada’s market analysis branch on July 22. The latest tables take into account the latest acreage estimates released by […] Read more
Canadian wheat bids mixed despite continued U.S. losses
Reading Time: < 1 minute Average bids for Canadian Western Red Spring (CWRS) wheat weakened slightly during week ended July 21 at a cross section of delivery points across Western Canada. However, Canadian bids lagged the U.S. futures to the downside and basis improvements were seen at many locations. On July 21, average spot bids for 13.5% CWRS across Manitoba, […] Read more
Low ocean freight rates aid North American grain exports
Reading Time: 2 minutes CNS — The Baltic Dry Index, which tracks global ocean shipping rates, is currently trading at its weakest levels of the past year. The declining cost of ocean freight makes North American grain and oilseed exports more competitive into international markets. The Baltic Dry Index (BDI) was quoted at 755 points on July 16, which […] Read more
ICE Canada weekly outlook: canola ‘edgy,’ watching weather
Reading Time: 2 minutes ICE Futures Canada canola contracts dropped to their lowest levels in five months at one point during the week ended July 16, but managed to post small gains overall as traders continue to try and get a handle on the extent of the crop losses in Western Canada. CNS — Declines in CBOT soybeans accounted […] Read more
Funds holding large short position in canola
Reading Time: < 1 minute CNS Canada — Fund traders have steadily added to their large short positions in canola in recent weeks, with trade estimates placing the net position at about 20,000 in the November contract. “Funds are short canola and will stay short canola until we see a significant bounce back, and I don’t see that coming any […] Read more
Prairie wheat bids steady overall
Reading Time: < 1 minute CNS Canada — Cash bids for Canada Western Red Spring (CWRS) wheat showed some improvement at many delivery points across Western Canada during the week ended Monday, and held steady overall despite sharp declines in U.S. futures. Average spot bids for CWRS (13.5 per cent protein) across Manitoba, Saskatchewan and Alberta came in Monday at […] Read more
Polar vortex in July? No, but cooler temps still on the way
Reading Time: 2 minutes CNS Canada — A cold mass of air making its way from the Arctic toward the U.S. has led to some reports of a summer return of the “polar vortex” that sent temperatures plummeting to extreme lows over the past winter. While the weather patterns are similar, the surge of cooler air isn’t likely to […] Read more
More room to downside for falling wheat futures
Reading Time: 2 minutes CNS Canada — U.S. wheat futures have posted large losses over the past two months, but could be headed lower still as the winter wheat harvest moves northward and the country’s spring wheat crop is reported to be in good shape for the time being, said an analyst. CBOT soft wheat futures are currently trading […] Read more
Spring wheat bids decline for fourth straight week
Reading Time: < 1 minute CNS Canada — Average cash bids for Canada Western Red Spring (CWRS) and Canada Prairie Spring Red (CPRS) continued their downward slide during the week ended Monday, as losses in the U.S. wheat futures weighed on values for the fourth straight week. Average spot bids for CWRS (13.5 per cent protein) across Manitoba, Saskatchewan and […] Read more