Reading Time: < 1 minute MarketsFarm — ICE Futures canola contracts moved lower during the week ended Wednesday but remain rangebound overall, as market participants continued to await a clearer picture on the size of the 2019 crop. “The overall grain and oilseed complex still feels heavily weighted, but I’m hoping for at least a short-term bounce,” said Mike Jubinville […] Read more
ICE weekly outlook: Rangebound canola looks for bounce
StatsCan confirms smaller canola crop
Reading Time: 2 minutes MarketsFarm — Statistics Canada’s first production estimates for the 2019-20 crop, released Wednesday, were generally in line with expectations, although upward revisions are likely in subsequent reports. The agency’s production of principal field crops report was “bang on with expectations across the board,” according to Ken Ball of PI Financial in Winnipeg. While both the […] Read more
Pulse weekly outlook: Chickpeas appear OK, but prices soft
Reading Time: 2 minutes MarketsFarm — Canada’s chickpea crop has likely beaten earlier expectations — but poor prices may limit farmer sales come harvest. “We planted the crop in drought conditions” and were preparing for the worst, said Colin Young of Midwest Grain at Moose Jaw, Sask., pointing to the lack of subsoil moisture in key chickpea-growing regions of […] Read more
Bearish bets decline in canola
Reading Time: < 1 minute MarketsFarm — While speculators were increasing bearish bets for Chicago soybeans and corn during the week ended Tuesday, canola traders were taking back some of their large net short positions. 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 canola […] Read more
Canada boosts 2019-20 wheat production estimate
Reading Time: < 1 minute MarketsFarm — Canadian wheat production in 2019-20 is forecast to come in at 500,000 tonnes above an earlier forecast, according to updated supply/demand tables released Wednesday from Agriculture and Agri-Food Canada. Wheat ending stocks were also raised in the report, while adjustments to the canola tables led a slight reduction to the still record-large carryout […] Read more
Pulse weekly outlook: India’s monsoons catch up, but crops still at risk
Reading Time: < 1 minute MarketsFarm — Heavy rains in recent weeks have brought India’s monsoon rainfall back to normal levels after a slow, dry start to the season, according to reports out of the country. However, flooding and uneven distribution of moisture could still hurt crop production. A normal monsoon is defined as 96-104 per cent of the 50-year […] Read more
Oats market steady, watching harvest
Reading Time: < 1 minute MarketsFarm — Western Canada’s oats market is stable at prices a bit better than a year ago, as harvest gets underway and participants wait to see how much will move off the combine to the market. Early yield reports range anywhere from 80 to 140 bushels per acre, said Tyler Palmer, grain buyer with Emerson […] Read more
Funds cover canola short positions
Reading Time: < 1 minute MarketsFarm — Fund traders covered some of their large net short position in canola 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 canola came in Tuesday at 66,293, a decrease of roughly 3,000 contracts […] Read more
Cash wheat: Bids mixed, watching futures and currency
Reading Time: 2 minutes MarketsFarm — Wheat bids in Western Canada were narrowly mixed during the week ended Thursday, with losses in U.S. futures countered by support from a softer Canadian dollar. The Canadian dollar was down by roughly a third of a cent relative to its U.S. counterpart, while the futures were all lower following bearish U.S. Department […] Read more
ICE weekly outlook: Canola watching pre-harvest weather
Reading Time: < 1 minute MarketsFarm — ICE canola futures held rangebound during the week ended Wednesday, with uncertainty over new-crop production likely to keep some caution in the market over the next few weeks. “Canola is very attractively priced right now,” said Ken Ball of PI Financial in Winnipeg, noting crush margins have improved significantly in recent weeks to […] Read more
A message from April Stewart, Country Guide's Associate Editor
