Reading Time: 2 minutes MarketsFarm — Soybean and corn futures at the Chicago Board of Trade were boosted by last Thursday’s bullish supply/demand estimates from the U.S. Department of Agriculture, but attention has since shifted back to South American growing conditions. “The primary thing right now is South American weather,” said market analyst Tom Lilja of Progressive Ag at […] Read more
CBOT weekly outlook: Soy, corn markets’ eyes on South America
Wheat market remains sensitive to Ukraine news
Fund traders flip back to short side on canola
Corn traders reduce net long position
Reading Time: < 1 minute MarketsFarm — After briefly holding a net long position to start the New Year, speculators were back holding a net short position in canola in the second week of January as they liquidated long positions and put on some new bearish bets. The latest Commitments of Traders (CoT) report compiled by the U.S. Commodity Futures […] Read more
Prairie cash wheat: Bids dip as loonie soars
Chicago, K.C. wheats down on week
Reading Time: 2 minutes MarketsFarm — Spring wheat bids in Western Canada moved lower during the week ended Thursday as a sharp gain in the Canadian dollar relative to its U.S. counterpart cut into basis levels. The currency was up by roughly a penny on the week, settling Thursday at its highest level in seven weeks at 74.75 U.S. […] Read more
Ocean freight rates falling
Baltic index at lowest since mid-2020
Reading Time: < 1 minute MarketsFarm — Ocean freight rates are under pressure to start 2023, with the Baltic Dry Index (BDI) dipping to its lowest level since June 2020 as poor demand for vessels weighed on values. A seasonal slowdown of cargo movement ahead of the Chinese New Year was seen as contributing to the latest softness, despite easing […] Read more
Feed weekly outlook: Corn imports still weigh on domestic feed market
Reading Time: < 1 minute MarketsFarm — Ample corn imports from the U.S. continue to keep the western Canadian feed grain market under pressure, with barley bids in Lethbridge trending lower through the early days of 2023. “We started the year with cash barley trading at roughly $450 (per tonne) in Lethbridge, it’s since declined to roughly $435,” said Jim […] Read more
Pulse weekly outlook: New-crop green lentil bids in line with year ago
Reading Time: < 1 minute MarketsFarm — New-crop lentil bids are starting to become available in Western Canada, with early pricing indications for green lentils not that far off the levels seen at the same time a year ago. New-crop pricing for large green lentils delivered to the elevator in the fall of 2023 can currently be found in the […] Read more
Fund traders back on the long side in canola
Net long also extended in CBOT corn, soy
Reading Time: < 1 minute MarketsFarm — Speculators in ICE canola moved back to a net long position in the futures to start the New Year, according to the latest Commitment of Traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). The net managed money long position in ICE Futures canola came in at 6,805 contracts on Jan. […] Read more
ICE weekly outlook: Sideways canola market watching macros
USDA report may offer nearby direction
Reading Time: < 1 minute MarketsFarm — ICE Futures canola contracts remain stuck in a sideways trading range to start the New Year, with bearish outside forces countered by relatively supportive fundamentals. From a chart standpoint, March canola is stuck in a sideways range between $800 and $900, with little to suggest a break one way or the other for […] Read more
Prairie cash wheat: Bids mostly higher
U.S. wheat futures up on week
Reading Time: 2 minutes MarketsFarm — Spring wheat bids in Western Canada saw some mixed activity during the week ended Thursday (Dec. 22), with small losses reported for red spring wheat in Manitoba, while prices were up in Alberta and Saskatchewan. Average Canada Western Red Spring (CWRS, 13.5 per cent protein) wheat prices were down by 30-40 cents in […] Read more
Feed weekly outlook: Alberta barley bids steady heading into holidays
Reading Time: < 1 minute MarketsFarm — The Lethbridge feed grain market is holding relatively steady heading into the holiday season, with ample imports of corn from the U.S. keeping a lid on prices. Reports out of Alberta’s feedlot alley peg the upper edge of delivered barley bids in the $430-$435 area, with feed wheat seeing similar prices. Feedlots are […] Read more
A message from April Stewart, Country Guide's Associate Editor
