Reading Time: 2 minutes (Resource News International) –– Canola cash bids in Western Canada have climbed higher in sympathy with the rallying futures over the past week, although basis levels have widened slightly. “For the most part, cash prices seem to be following canola futures higher,” said Toby Torkelson, general manager of RayGlen Commodities in Saskatoon, although he noted […] Read more
Canola cash bids climb following futures
Mustard bids could be due for move higher
Reading Time: 2 minutes (Resource News International) — Mustard prices in Western Canada have held steady for the past month despite the increasing concerns about wet weather in Saskatchewan. With many acres likely to be left unseeded and others facing excessive moisture, bids should have some room to the upside, especially given the rally in canola over the past […] Read more
Canola crush margins deteriorate, crushers patient
Reading Time: < 1 minute (Resource News International) — Canadian canola crush margins have declined sharply over the past week, as a rally in canola futures made it more expensive for domestic processors to acquire the seed. Strength in the Canadian dollar also served to cut into crush margins. The canola crush board margin, as quoted by ICE Futures Canada, […] Read more
Oats bids climb on weather; correction possible
Reading Time: 2 minutes (Resource News International) — Oats futures at the Chicago Board of Trade (CBOT) have climbed sharply higher over the past week due to the weather concerns in Western Canada. The excessive moisture will likely leave a large percentage of the crop unseeded, with yield concerns possible for already planted fields. The weather “is definitely translating […] Read more
Many canola acres unseeded; question is how many
Reading Time: 2 minutes (Resource News International) — Canada’s canola crop will likely end up considerably smaller than early expectations, as adverse weather conditions, particularly in Saskatchewan, should leave large areas unseeded. However, just how much area will be left unseeded remains to be seen. Ron Frost of Agri-Trend Marketing Inc. and Frost Forecasting Corp. in Calgary said seeding […] Read more
Reseeding likely for some Man. soybeans
Reading Time: < 1 minute (Resource News International) –– Manitoba soybean fields hit hard by recent rains will likely need some reseeding, but the true extent of any damage won’t be known for another week to 10 days. “There will be isolated pockets where reseeding will be needed for soybeans,” said a Manitoba soybean merchant. However, “how bad it will […] Read more
Most, not all, Man. corn crops OK after rain
Reading Time: < 1 minute (Resource News International) — The major corn growing regions of Manitoba were hit by heavy rains over the past week, causing flooding and likely damaging some of the crops. A corn buyer in the province said while there will be some drowned-out spots, most of the corn was likely still in good shape. Corn is […] Read more
Weather issues could boost canola basis levels
Reading Time: 2 minutes (Resource News International) — Weather problems causing seeding delays to the western Canadian canola crop will likely result in better basis levels for those producers with canola to sell, especially as the futures remain stuck in a flat range and could be headed lower, according to a market analyst. Errol Anderson, president of ProMarket Communications […] Read more
Funds begin rolling out of nearby July canola
Reading Time: < 1 minute (Resource News International) — Traditional commodity funds are holding large short positions in canola, while speculative index funds remain long the market. The funds were actively rolling those positions out of the nearby July contract and into the November futures Friday, and traders expected fund rolling to remain a feature in the week ahead. Trade […] Read more
Peas face conflicting market influences
Reading Time: 2 minutes (Resource News International) — The market for both edible and feed peas is fairly quiet in Western Canada right now, as producers remain focused on finishing up the last of this year’s seeding. The spread between old- and new-crop edible peas has narrowed in earlier than normal, meaning that some of the peas farmers were […] Read more
A message from April Stewart, Country Guide's Associate Editor
