Reading Time: < 1 minute MarketsFarm — ICE Futures canola contracts backed away from nearby highs during the week ended Wednesday, but historically wide crush margins should keep the market well supported going forward. “The crush margins are unsustainably high,” said Ken Ball of PI Financial in Winnipeg, pointing to margins that currently work out to over $200 per tonne […] Read more
ICE weekly outlook: Canola’s wide crush margins supportive
U.S. grains: Soy, wheat, corn fall as export concerns rise
Low depths on Mississippi hinder export traffic
Reading Time: 2 minutes Chicago | Reuters — Chicago Board of Trade soybean futures fell to a 2-1/2 month low on Thursday, under pressure from the ongoing U.S. harvest and signs of weak overseas demand, traders said. Poor export demand also weighed on the corn and wheat markets as investors remained wary of an economic downturn. “The grain and […] Read more
Feed weekly outlook: Barley values steady, wheat rises
Reading Time: < 1 minute MarketsFarm — As the harvest across most of the Prairies begins to wind down, price movement for feed barley has remained fairly stable, according to Erin Harakal, senior trader for Agfinity at Stony Plain, Alta. “October is getting covered is what’s happening. There’s not too much room left for October,” Harakal said, noting the midway […] Read more
Quinoa production improves in 2022-23
Yields swing closer to average level
Reading Time: < 1 minute MarketsFarm — Compared to last year, Canada’s 2022-23 quinoa harvest has significantly improved, with yields exceeding expectations, according to Michael Dutcheshen of Saskatoon-based NorQuin. “Last year was a tough year for Canadian farmers for all crops, with quinoa no exception. This year is looking a lot more positive. We seem to have missed the hot […] Read more
ICE weekly outlook: Rising canola prices hit a one-day thud
"There's a day where we need to take a pause"
Reading Time: 2 minutes MarketsFarm — ICE Futures canola rose like Icarus over the past few weeks, but just like that Greek mythological figure, it flew too high, only to come back down to Earth. After the November canola contract rose in seven of its last eight sessions — in the middle of harvest, no less — and gained […] Read more
Feed weekly outlook: Prairie barley market still strong
Availability of trucks remains an issue
Reading Time: < 1 minute MarketsFarm — The feed barley market remains strong despite the influx of freshly harvested supplies, with little competition from other feed sources. “The markets have been coming up steadily, with what feels like no harvest pressure,” said Suzanne Leclerc, owner of Market Master Ltd. in Edmonton. “People were hoping the market would get lower and […] Read more
Smithfield Foods to pay US$75 million in pork price-fixing settlement
Follows similar settlement by JBS
Reading Time: < 1 minute Reuters — Smithfield Foods has agreed to pay US$75 million to settle a lawsuit by consumers who accused the meat producer and several competitors of conspiring to inflate prices in the $20 billion-a-year U.S. pork market by limiting supply. A preliminary settlement in the antitrust case was filed on Tuesday night with the federal court […] Read more
ICE weekly outlook: Canola shouldn’t fall hard
Loonie keeping oilseed off sharper decline
Reading Time: 2 minutes MarketsFarm — As Malaysian palm oil futures tumbled to 20-year lows during the week of Sept. 26, they have put a lot of pressure on canola prices, analyst Errol Anderson of ProMarket Communications in Calgary said. However, he said, the Canadian dollar has been the backstop that kept the oilseed from falling with palm oil. […] Read more
Feed weekly outlook: Good grain yields seen in Saskatchewan, Manitoba
Reading Time: < 1 minute MarketsFarm — Despite delays in the ongoing barley and wheat harvests across the eastern Prairies, early indications have suggested healthy amounts of grain production. “Eastern Saskatchewan and Manitoba still have a bit of harvest to go, but generally the yields are good,” Glen Loyns, general manager of JGL Commodities at Moose Jaw, Sask., said. “Quality […] Read more
CBOT weekly outlook: War chatter part of market chaos
Stronger U.S. dollar weighs on futures
Reading Time: 2 minutes MarketsFarm — With the daily talk about Russia’s invasion of Ukraine, Scott Capinegro, president of Barrington Commodities at Barrington, Ill., has a special term for its effects on the Chicago Board of Trade (CBOT). “I call it the Putin rally,” he quipped, referring to Russian President Vladimir Putin, but lamenting the chaos the seven-month-old war […] Read more
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