Reading Time: 2 minutes CNS Canada — Spring wheat cash bids across Western Canada softened during the week ended Friday, as a downturn in U.S. futures put pressure on prices. Depending on the location, average Canada Western Red Spring (CWRS) wheat prices were down by roughly $5 per tonne, according to price quotes from a cross-section of delivery points […] Read more
Prairie wheat bids soften with U.S. futures
Minneapolis leads U.S. wheat futures trifecta
Reading Time: 2 minutes CNS Canada — Minneapolis wheat prices are gaining on those at other U.S. futures markets, as traders expect reduced acres this year. But the opposite is true for the Kansas City exchange as the expectation of high production weighs, and Chicago markets are moving on technical trading. Minneapolis Grain Exchange — “We’re keeping an eye […] Read more
U.S. grains: Soy hits five-month high on technicals, fund buying
Reading Time: 2 minutes Chicago | Reuters — U.S. grain prices were mostly higher on Tuesday, with soybeans rising to their highest since October, on technical buying and worries that cold temperatures could damage crops in the southwestern portion of the Great Plains wheat belt. Corn and wheat trimmed earlier gains on light selling from technical traders and from […] Read more
U.S. wheat futures could be scraping bottom
Reading Time: < 1 minute CNS Canada — A general downtrend in U.S. wheat futures remains in place, with all three markets hitting fresh contract lows over the past week. However, there may not be much more room to the downside, according to an analyst. “The (U.S. Department of Agriculture) reports on Tuesday (Feb. 9) were not beneficial for the […] Read more
Firm loonie cuts into Prairie spring wheat bids
Reading Time: 2 minutes CNS Canada — Cash spring wheat bids across Western Canada moved lower during the week ended Friday, as continued strength in the Canadian dollar more than countered any support from advances in U.S. futures. Average Canada Western Red Spring (CWRS) wheat prices were down by $3 to $5 per tonne over the week, according to […] Read more
U.S. wheat up with short-covering, but more downside possible
Reading Time: 2 minutes CNS Canada — U.S. wheat futures hit contract lows over the past week, before seeing a short-covering correction in recent days. However, with ample world supplies and poor export demand, the path of least resistance likely remains lower, according to market participants. The fundamentals are pretty bearish for wheat, but the market structure is looking […] Read more
Prairie spring wheat bids firm
Reading Time: 2 minutes CNS Canada — Cash spring wheat bids across Western Canada generally saw some improvement during the week ended Friday, as basis levels saw some improvements at many locations. Average Canada Western Red Spring (CWRS) wheat prices were steady to up by as much as C$3 per tonne during the week, according to price quotes from […] Read more
Prairie wheat bids up as basis improves
Reading Time: 2 minutes CNS Canada — Cash wheat bids across Western Canada moved higher during the week ended Friday, as basis levels showed some improvement at most locations. Average Canada Western Red Spring (CWRS) wheat prices were up by C$7-$8 per tonne on average across the three Prairie provinces, according to price quotes from a cross-section of delivery […] Read more
U.S. grains: Lower greenback sparks rally in wheat, corn, soy
Reading Time: 2 minutes Chicago | Reuters –– U.S. corn, soybean and wheat futures rallied on Tuesday, supported by a steep decline in the U.S. dollar that made all three commodities more attractive to investors looking for a hedge against inflation, traders said. Wheat notched the biggest gain, with the front-month Chicago Board of Trade (CBOT) contract surging 3.8 […] Read more
U.S. wheat futures hit new lows, more losses likely
Reading Time: 2 minutes CNS Canada –– All three U.S. wheat futures markets hit fresh contract lows on Tuesday — and further losses are likely, as most fundamental and technical factors remain bearish. “The trend certainly hasn’t been positive,” said market analyst Bryan Strommen of Progressive Ag in Fargo, N.D. He cited improving U.S. winter wheat conditions, favourable weather […] Read more
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