Reading Time: 2 minutes MarketsFarm — Spring wheat bids in Western Canada moved lower during the week ended Friday, as losses in U.S. futures more than countered the supportive influence of the weakening Canadian dollar. Seasonal harvest pressure contributed to the declines, as the U.S. winter wheat harvest progressed northward. Average Canada Western Red Spring (CWRS, 13.5 per cent […] Read more
Prairie cash wheat: Bids trend lower with U.S. futures
Feed weekly outlook: Grains under pressure awaiting new crop
Farmers 'digging in and being patient'
Reading Time: < 1 minute MarketsFarm — Feed grain bids in Western Canada continue to come under pressure, as feedlots chew through corn imports from the United States and wait on the new-crop harvest. “We’re certainly seeing things soften,” said grain trader Shaun Smith of Market Place Commodities in Lethbridge. Declines in the Chicago futures and good Prairie growing conditions […] Read more
Larger U.S. barley crop expected in 2022
Reading Time: < 1 minute MarketsFarm — Barley production in the U.S. is forecast to be up substantially in 2022, with early indications pointing to the largest crop in seven years. In its latest production estimates, the U.S. Department of Agriculture forecast the country’s 2022 barley crop at 3.8 million tonnes, which would be up from the 2.6 million tonnes […] Read more
Larger spring wheat crop expected in U.S.
USDA expects reduced total worldwide wheat crop
Reading Time: 2 minutes MarketsFarm — Early indications point to a much larger spring wheat crop in the United States in 2022 compared to the drought-stricken 2021 crop despite the late seeding, according to the latest production estimates from the U.S. Department of Agriculture. In USDA’s first official production estimates of the growing season breaking out the different wheat […] Read more
Pulse weekly outlook: Pea bids slip as new crop looms
Reading Time: < 1 minute MarketsFarm — Top-end yellow and green pea bids in Western Canada have come down over the past month, as old-crop activity slows down and attention turns to the new crop. While tight supplies after the 2021 drought did not leave too many unpriced peas in the countryside, some farmers likely still waited too late and […] Read more
Baltic Dry Index at three-month lows
Demand for ocean freight seen backing off
Reading Time: < 1 minute MarketsFarm — Ocean freight rates have come under pressure over the past month as demand for freight backs away, which could be seen as a sign of the slowing global economy. The Baltic Dry Index (BDI), which is a major indicator of shipping rates, settled at 2,081 points on Monday, up 14 points from Friday’s […] Read more
Canola funds’ position shifts to net short
Reading Time: < 1 minute MarketsFarm — Speculative fund money in ICE Futures canola shifted to a net short position for the first time in two years, according to the latest Commitment of Traders (CoT) report compiled by the U.S. Commodity Futures Trading Commission (CFTC). The net managed money short position in ICE Futures canola came in at 677 contracts […] Read more
ICE weekly outlook: Canola selloff shows signs of slowing
Reading Time: < 1 minute MarketsFarm — ICE Futures canola contracts fell to their lowest levels in five months in early July, but may be finally finding some support as the selloff shows signs of running out of steam. The most-active November contract dipped below the $800 per tonne level on Tuesday and Wednesday — but ended above that psychological […] Read more
U.S. soybean acres come in below expectations
Reading Time: 2 minutes MarketsFarm – Farmers in the United States seeded fewer soybean acres than original intentions and slightly more corn, according to updated acreage estimates from the U.S. Department of Agriculture, released June 30. Total soybean area in the country for the 2022 growing season was pegged at 88.30 million acres by the government agency. That compares […] Read more
Speculators bail out of long positions in canola
Reading Time: < 1 minute MarketsFarm – Speculators continued to bail out of long positions in the ICE Futures canola market during the week ended June 21, according to the latest Commitment of Traders (CoT) report compiled by the United States Commodity Futures Trading Commission (CFTC). The net managed money long position in ICE Futures canola came in at 25,117 […] Read more