Reading Time: 2 minutes MarketsFarm — Spring wheat bids in Western Canada were mostly higher during the week ended Thursday, as gains in U.S. futures and weakness in the Canadian dollar provided support. Average Canada Western Red Spring (CWRS, 13.5 per cent protein) wheat prices were up by $5-$10.20 per tonne across the Prairies, according to price quotes from […] Read more
Prairie cash wheat: Spring wheat bids rise with U.S. futures
Weaker loonie also offers support
Feed weekly outlook: Grains steady, waiting on U.S. corn imports
Barley yields might beat StatCan expectations
Reading Time: 2 minutes MarketsFarm — More feed barley is reportedly making its way into Alberta cattle rations for the time being as recently-harvested supplies are competitive with corn imports from the U.S. While nearby demand is keeping the domestic market reasonably steady, more corn will likely start making its way north over the next month. Feed barley is […] Read more
Bulk ocean freight at highest level of past year
Container freight rates seen softening
Reading Time: < 1 minute MarketsFarm — Ocean freight rates have shown some strength over the past two months, with the Baltic Dry Index (BDI) at its highest level of the past year. The BDI, a major indicator of bulk shipping rates, settled at 2,058 points on Tuesday, marking the first close above 2,000 points since July 2022. The BDI […] Read more
Pulse weekly outlook: Smaller North American dry bean crops to underpin prices
Canada's edible bean crop estimated smallest since 2016
Reading Time: 2 minutes MarketsFarm — Variable weather conditions during the 2023 growing season cut into edible bean production in some key North American growing regions, with tighter supplies overall likely to keep prices well supported. “The whole world is a little short of beans this year,” said Mitch Coulter, executive director of the Northarvest Bean Growers Association in […] Read more
Fund short position grows in canola
Funds shift to net short in CBOT soybeans
Reading Time: < 1 minute MarketsFarm — The managed money net short position in ICE canola futures continued to grow in early October as speculators liquidated long positions and put on new shorts, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As of Oct. 10, the net managed-money short position in canola […] Read more
ICE weekly outlook: Canola futures looking for bottom
Crushing pace remains aggressive
Reading Time: < 1 minute MarketsFarm — ICE Futures canola contracts fell to their lowest levels in three and a half months during the week ended Wednesday, taking some direction from Chicago soyoil as harvest activity winds down across the Prairies. Losses in other markets, including Malaysian palm oil and European rapeseed futures, added to the declines in canola. “Everybody […] Read more
Managed money fund traders increase bearish canola bets
Funds still net long in CBOT soybeans
Reading Time: < 1 minute MarketsFarm — The managed money net short position in ICE Futures canola grew to its largest level in three and a half months in early October on a combination of long liquidation and new bearish bets going on the books, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission […] Read more
ICE weekly outlook: Canola looking for a spark
Recent declines in crude oil, diesel seen as bearish
Reading Time: < 1 minute MarketsFarm — The ICE Futures canola market hit its lowest levels in three months on the last trading day of September but has since uncovered some support in the first days of October. Canola “has found a level where it’s stabilized, but there’s not a lot of life right now,” said Ken Ball of PI […] Read more
Fund net short position grows in canola
Net long in CBOT soybeans seen declining
Reading Time: < 1 minute MarketsFarm — The managed money net short position in the ICE Futures canola market more than doubled during the week ended Tuesday on a combination of long liquidation and new bearish bets going on the books, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As of Sept. […] Read more
U.S. stocks data bearish for soybeans, bullish on corn
Reading Time: < 1 minute MarketsFarm — The U.S. corn carryout for the 2022-23 crop year came in below average trade guesses while soybean supplies were above expectations, according to the quarterly stocks report from the U.S. Department of Agriculture released Friday. There were 1.36 billion bushels of corn in storage in the country as of Sept. 1, which was […] Read more
A message from April Stewart, Country Guide's Associate Editor
