Reading Time: 2 minutes MarketsFarm — Carryout stocks of Canadian lentils could tighten to their smallest level in seven years by the end of the current 2022-23 marketing year, according to updated supply/demand estimates from Agriculture and Agri-Food Canada. While lentil production of 2.3 million tonnes was up by 44 per cent from the drought-stricken 2021-22 crop, expectations for […] Read more
Pulse weekly outlook: Tightening Canadian lentil stocks expected
Pea ending stocks more comfortable
AAFC raises canola stocks projection, despite smaller crop
Department also trims wheat ending stocks
Reading Time: 2 minutes MarketsFarm — Canadian canola ending stocks for 2022-23 were revised higher by Agriculture and Agri-Food Canada in its latest supply/demand estimates, released Friday. The larger carryout projection came despite a downward revision to production, as both exports and domestic usage were also down from the November report. The government agency now sees canola carryout of […] Read more
ICE weekly outlook: Canola trade’s focus on South America
Canola still entrenched in $800-$900 range
Reading Time: < 1 minute MarketsFarm — ICE Futures canola contracts held relatively rangebound during the week ended Wednesday, looking for some direction to push values one way or the other. “We’re just watching South American weather now,” said Jaimie Wilton, commodities futures specialist with RJ O’Brien in Winnipeg, pointing to the drought in Argentina and the relatively favourable conditions […] Read more
USDA supply/demand estimates show only minor updates
Reading Time: < 1 minute MarketsFarm — Updated supply-and-demand (WASDE) tables from the U.S. Department of Agriculture included only minimal adjustments to the U.S. and world numbers, with larger revisions likely in the New Year. U.S. soybean and wheat ending stocks projections for the current marketing year were left unchanged, while the corn number was raised slightly. Total U.S. corn […] Read more
CBOT weekly outlook: Soy futures find support, but upside limited
Corn activity mainly bearish
Reading Time: < 1 minute MarketsFarm — Solid export demand, a short squeeze by fund traders and production uncertainty in South America have all propped up Chicago soybean futures over the past week, with more gains possible ahead of the year-end before correcting lower, according to an analyst. With the South American harvest still some time away, “you might have […] Read more
Speculative short position grows in canola
Managed money still net long in soybeans
Reading Time: < 1 minute MarketsFarm — Speculators in the ICE Futures canola were busy liquidating long positions and adding to the short side of the market during the last week of November. That’s caused the net short position to grow to its largest level in two months, according to the latest Commitments of Traders (CoT) report compiled by the […] Read more
Prairie cash wheat: Bids drop with U.S. futures
Canadian dollar also down on week
Reading Time: 2 minutes MarketsFarm — Spring wheat bids in Western Canada moved lower during the week ended Thursday, as U.S. wheat futures posted losses — although softness in the Canadian dollar did provide some underlying support. Average Canada Western Red Spring (CWRS, 13.5 per cent protein) wheat prices were down by $3.50-$6.40 per tonne across the Prairies, according […] Read more
StatCan data show smaller Canadian canola, durum production
Report also logs more barley, oats than previous estimates
Reading Time: 2 minutes MarketsFarm — Canadian farmers grew less canola and durum than originally thought in 2022, but more barley and oats, according to updated production estimates from Statistics Canada released Friday. “There were both bullish and bearish surprises,” MarketsFarm Pro analyst Mike Jubinville said. While canola production of 18.174 million tonnes was still up considerably from the […] Read more
Feed weekly outlook: Looming corn imports to keep lid on Prairie barley
Reading Time: < 1 minute MarketsFarm — Large shipments of corn from the U.S., slated for delivery to Alberta’s feedlot alley, should keep domestic barley prices under pressure going forward, according to an analyst. “The barley price here will gradually decline,” said Errol Anderson of Pro Market Communications in Calgary, adding that up to 30 unit trains of U.S. corn […] Read more
Pulse weekly outlook: Yellow peas under pressure from large volumes
Reading Time: < 1 minute MarketsFarm — Large volumes of yellow peas being delivered into commercial hands have put some pressure on values, although prices remain reasonably solid. Green and maple pea bids are stronger, but movement is more limited in those markets. End users were active buyers of yellow peas in recent months, but many are now filled up […] Read more
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