Reading Time: < 1 minute Canadian canola exports in both 2023/24 and the upcoming new crop year are unlikely to live up to earlier expectations, causing ending stocks of the oilseed to rise, according to updated supply/demand estimates from Agriculture and Agri-Food Canada (AAFC), released May 21.
AAFC raises canola carryout projections, wheat to tighten
Timely rains boost Prairie chickpea prospects
Reading Time: < 1 minute Improved moisture conditions bode well for Saskatchewan chickpea production in 2024, with seeding operations for the crop nearing completion.
ICE canola weekly outlook: Uptrend intact, but watching weather
Reading Time: < 1 minute ICE Futures canola contracts climbed to their highest levels of 2024 in early May before taking a step back on May 8. While the uptrend is still intact, improving moisture conditions across Western Canada could limit any further gains.
CBOT soybeans/corn rangebound, watching weather
Reading Time: < 1 minute Shifting weather forecasts have the potential to sway soybean and corn futures within sideways trading ranges over the next few weeks as farmers in the United States focus on spring seeding.
Seasonal outlook points to warmer Canadian weather
Reading Time: < 1 minute Warmer than normal temperatures are to be expected across most of Canada over the next three months, according to the latest long-range seasonal forecast from Environment and Climate Change Canada as of April 30.
Canola net short position edges lower
Reading Time: < 1 minute The managed money net short position in canola futures edged lower in the latest reporting period, as fund traders covered some of their bearish bets, according to the latest Commitments of Traders report from the United States Commodity Futures Trading Commission (CFTC).
Prairie wheat bids climb with U.S. futures
Reading Time: 2 minutes Spring wheat bids in Western Canada climbed higher during the week ended April 25, as a rally in United States futures provided support. Chart-based speculative buying was behind much of the strength in the futures, as fund traders bought back some of their large net short position. Declining crop ratings for U.S. winter wheat, the […] Read more
Canadian corn imports expected to slow in 2024/25
Reading Time: 2 minutes Early expectations point to increased Canadian grain production in 2024/25, which should cut into corn imports from the United States, according to a report from the U.S. Department of Agriculture’s attaché in Ottawa.
Pea market solid – watching weather, Indian demand
Reading Time: 1 minute Tightening supplies and solid demand continue to keep pea bids well supported in Western Canada, although uncertainty over whether that demand will continue was keeping some caution in the market as attention turns to the upcoming crop.
Fund traders back adding to short positions in canola
Reading Time: < 1 minute The net managed money short position in canola grew for the first time in seven weeks as fund traders put on fresh bearish bets in mid-April, according to the latest Commitments of Traders report from the United States Commodity Futures Trading Commission (CFTC).
A message from April Stewart, Country Guide's Associate Editor
