Reading Time: 2 minutes Marketsfarm – While the recent gains in canola on the Intercontinental Exchange were likely generated by the spreaders, the market will probably become choppy, according to Ken Ball, trader with PI Financial in Winnipeg, Man. “Spreaders for the last few days have been selling canola and buying soyoil,” Ball suggested in a July 26 interview, […] Read more
ICE weekly outlook: canola market heading towards choppy waters
Markets will pause to see how the crops finish developing: analyst
CBOT weekly update: U.S. Fed decision one of many factors
Russia’s withdrawal from Black Sea Grain Initiative, attacks on Ukrainian ports have caused erratic price movement
Reading Time: 2 minutes Marketsfarm – The decision by the United States Federal Reserve on July 26 to raise its key interest rates mostly served as a distraction on the Chicago Board of Trade (CBOT) from other events affecting grain futures. The central bank continued its efforts to wrangle inflation by pushing interest rates up 25 basis points to […] Read more
U.S. grains: wheat pares gains after 5-month top; corn, soybeans retreat
The market pulled back from five-month highs as Russia appeared to slow its port attacks
Reading Time: 2 minutes Chicago | Reuters – Chicago Board of Trade (CBOT) wheat futures Wv1 pared gains after setting five-month highs on Tuesday after Russia’s attacks on Ukrainian ports and grain infrastructure raised concerns about long-term global supplies and triggered a round of fund short-covering, analysts said. The wheat market pared gains and even dipped lower at times […] Read more
Pulse weekly outlook: recent rains could stabilize crops
Prices for pulses across Western Canada have been steady
Reading Time: 2 minutes Marketsfarm – Despite the rain the Canadian Prairies received since July 17, MarketsFarm Pro analyst Mike Jubinville pointed out that the major pulse crop areas got very little. While any precipitation has been beneficial to this year’s crops struggling with dry conditions, Jubinville said, it won’t help that much. “In terms of advancing pea and […] Read more
EU looks to cover transport costs for Ukraine grain exports by land
About 60 per cent of Ukraine's exports were shipped via solidarity lanes when the Black Sea deal was in operation
Reading Time: 2 minutes Brussels | Reuters – The European Union is ready to export almost all of Ukraine’s farm produce via “solidarity lanes” and help cover costs after Russia withdrew from a U.N.-backed Black Sea grain deal, EU agriculture commissioner Janusz Wojciechowski said on Tuesday. Solidarity lanes are rail and road transport connections through EU member states that […] Read more
Bayer slashes outlook as glyphosate demand weakens further
Analysts say dry weather conditions hurt farmers' demand for seeds and pesticides
Reading Time: 2 minutes Reuters – Further deterioration in demand for glyphosate-based weed killers led Bayer BAYGn.DE to cut its full-year earnings outlook and announce a 2.5 billion euro ($2.8 billion USD) write-down on glyphosate-related assets. In an unscheduled statement late on Monday, the German drugs and pesticides maker said it was projecting 2023 earnings before interest, taxes, depreciation […] Read more
U.S. grains: wheat soars daily limit as Russia attacks Ukrainian grain ports
E.U. further reduces crop forecast, USDA ratings for soybean and spring wheat declines
Reading Time: 2 minutes Chicago | Reuters – U.S. wheat futures surged 8.6% on Monday, rising their daily maximum at the Chicago Board of Trade (CBOT) after Russia attacked Ukrainian ports and grain infrastructure, including the first attack on Danube River grain warehouses. The attacks targeted a vital export route for Kyiv in an expanding air campaign that Moscow began […] Read more
Klassen: tight supplies continue to underpin feeder complex
Feedlot operators shrug off past week's rally in the corn market
Reading Time: 2 minutes Compared to last week, Western Canadian yearling markets traded $2-$5/cwt higher on average while calves were up $5/cwt to as much as $10/cwt in some cases. Feather light calves under 500 pounds reached fresh historical highs with 300-400 pound steers trading from $400-$450/cwt in Southern Alberta. Finishing feedlots continue to be aggressive on yearlings for […] Read more
U.S. Grains: wheat futures drop, corn weak, soybeans mixed
Market going "from forecast to forecast" says expert
Reading Time: 2 minutes Chicago | Reuters – U.S. wheat futures dropped 4.1 per cent on Friday, with traders locking in profits from a rally sparked by escalations in the Russia-Ukraine war that raised the prospects of export disruptions from the two key global suppliers. Corn futures also were weaker, pressured by forecasts that showed more rain and cooler temperatures in […] Read more
Fund position flips to net long in canola
The last time the market was showing a net long position was the first week of January
Reading Time: < 1 minute MarketsFarm – The managed money position in canola flipped from a net short to a net long for the first time in six months during the week ended July 18, as fund traders covered short positions and put on new bullish bets, according to the latest Commitments of Traders report from the United States Commodity […] Read more
A message from April Stewart, Country Guide's Associate Editor
