Reading Time: < 1 minute MarketsFarm — Durum bids in Western Canada have found some support from solid demand and logistical issues elsewhere in the world. Anecdotal reports of pasta hoarding, due to COVID-19 coronavirus concerns, were also somewhat supportive. Cash durum bids in Saskatchewan are currently in the $7.50-$8 per bushel range, according to Prairie Ag Hotwire data. That […] Read more
Solid demand, logistics underpin durum bids
Fund traders cover canola shorts, liquidate corn longs
Reading Time: < 1 minute MarketsFarm — Fund traders were covering short positions in canola and liquidating longs in corn during the week ended Tuesday, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). The net managed money short position in ICE Futures canola came in Tuesday at 58,455 contracts (2,163 long/60,618 […] Read more
ICE weekly outlook: More virus volatility expected in canola
Reading Time: < 1 minute MarketsFarm — A sharp drop in the Canadian dollar helped lessen the blow of the COVID-19 pandemic on the ICE Futures canola market. However, volatility and uncertainty are expected to remain the feature in the upcoming weeks. Any strength in canola “is 100 per cent the Canadian dollar and nothing else,” said Ken Ball, of […] Read more
Feed weekly outlook: Seasonal restrictions underpin grains
Coronavirus fallout being watched
Reading Time: < 1 minute MarketsFarm — Seasonal weight restrictions and spring road bans are providing some underlying support for feed grain bids in Western Canada, with the COVID-19 coronavirus outbreak also being followed closely. “Winter weights are coming off, which is restricting the areas (feedlots) can pull from,” said Allen Pirness, of MarketPlace Commodities in Lethbridge, adding “there’s a […] Read more
Pulse weekly outlook: Bids underpin Manitoba edible bean area
Province's soybean acres expected to fall
Reading Time: 2 minutes MarketsFarm — Solid prices should keep Manitoba farmers growing edible beans in 2020, although soybean area will likely drop, according to a provincial specialist. Disappointing harvest weather in 2019 hurt yields and cut into harvested area for edible beans in both Manitoba and across the border in the United States. As a result, prices heading […] Read more
Fund traders cover some bearish bets in canola, soybeans
Reading Time: < 1 minute MarketsFarm — Fund traders were buying back short positions in canola, soybeans and corn during the week ended Tuesday, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). In the wheat market, however, they were on the other side. The net managed money short position in ICE […] Read more
Ag chem industry watching COVID-19’s spread
Reading Time: 3 minutes MarketsFarm –– China is a major producer of agricultural chemicals — and disruptions to production would have a ripple effect on North American supplies of crop protection inputs, such as herbicides and insecticides. Plant closures and transportation issues due to the spread of COVID-19 coronavirus are being followed closely, but the Canadian industry is reportedly […] Read more
CBOT weekly outlook: Soybeans, corn recover
More gains possible
Reading Time: < 1 minute MarketsFarm — Soybean and corn futures at the Chicago Board of Trade moved off of nearby lows over the past week, with more upside a possibility, according to an analyst. “In general, with the recovery in energy prices and global markets, we’re seeing a little support come into the agricultural markets,” said Terry Reilly of […] Read more
Yellow mustard bids solid
Reading Time: < 1 minute MarketsFarm — Yellow mustard bids remain solid in Western Canada, which should encourage acres this spring. “Yellow mustard started firming up after harvest,” said Walter Dyck of Olds Products. Poor conditions and quality concerns in the fall provided some of the support at that time, with top end bids still holding around 40 cents/lb. Brown […] Read more
Fund traders still bearish on canola
Reading Time: < 1 minute MarketsFarm — Fund traders remained heavily on the short side in canola futures during the week ended Tuesday, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). The net managed money short position in ICE Futures canola came in Tuesday at 62,709 contracts (1,100 long/73,809 short), which […] Read more