Reading Time: < 1 minute MarketsFarm — ICE Futures canola contracts climbed to fresh contract highs during the first week of April, but ran into profit-taking resistance and could be due for more losses as the market looks overpriced. “We’re starting to see canola give back some of the extra premium it’s been putting on,” said Ken Ball of PI […] Read more
ICE weekly outlook: Overvalued canola market due for correction
CBOT weekly outlook: Smaller corn, soybean ending stocks expected
Reading Time: 2 minutes MarketsFarm — Ahead of the April supply and demand (WASDE) report from the U.S. Department of Agriculture on Friday, trader Ryan Ettner of Allendale Inc. at McHenry, Ill. said he’s expecting carryovers for corn and soybeans to come in below March’s estimates. Ettner has also pegged the wheat carryout to be a little bit higher. […] Read more
ICE weekly outlook: Canola in its own world, analyst says
Reading Time: 2 minutes MarketsFarm — To market analyst Wayne Palmer of Exceed Grain, canola “has been in a world of its own for about the last month,” and he expects that will remain the case for some time. Canola, he explained, has generally done the opposite of the Chicago soy complex — which the Canadian oilseed normally follows. […] Read more
Egyptian delegation to visit India to discuss wheat imports
Reading Time: 2 minutes New Delhi | Reuters — A delegation from Egypt will visit India in the first week of April to facilitate wheat imports as part of efforts to secure supplies and tide over shortages at one of the world’s biggest importers of the staple, Indian government sources said. Egypt, often the world’s biggest wheat importer, is […] Read more
Pulse weekly outlook: Market uncertainty all around
Reading Time: 2 minutes MarketsFarm — As Russia’s invasion of Ukraine continue to swing markets up and down, typical issues and other external factors have amplified volatility in the pulse markets, according to one trader. David Newman, owner of Commodius Trading at North Saanich, B.C., explained that while the conflict in Eastern Europe is affecting markets everywhere, the usual […] Read more
Klassen: Feeder market showing strength in deferred positions
Reading Time: 2 minutes Compared to last week, western Canadian yearling prices were $3-$5 lower on average while calves traded steady to $4 lower. Outside central Alberta, the steer-heifer spread appeared to widen by $2-$4. Strength in corn futures contributed to the defensive tone. Feedlot operators buying hand-to-mouth have been caught off guard with the recent jump in feed […] Read more
Pulse weekly outlook: Lentil prices expected to hold
Reading Time: < 1 minute MarketsFarm — Prices for green and red lentils are very likely to remain relatively steady, according to Marlene Boersch of Mercantile Consulting Venture Inc. in Winnipeg. “Inventories are relatively low and there are not a lot of people to go to for green lentils in Canada,” she said. “From a buyer’s point of view, they’re […] Read more
Ukraine war already impacting food security, U.N. agency warns
Reading Time: < 1 minute London | Reuters — The war in Ukraine is already resulting in rising food prices and a shortage of staple crops in parts of central Asia, the Middle East and north Africa, the United Nations International Fund for Agricultural Development (IFAD) said on Thursday. The Russian invasion of Ukraine last month has severely curtailed shipments […] Read more
ICE weekly outlook: Canola lower, but expected to climb
Reading Time: < 1 minute MarketsFarm — Although canola prices closed lower on Wednesday, the Canadian oilseed is seen as still likely to grind higher in the coming weeks. “The charts and the patterns that have developed, and are still in place for canola, have been kind of the same for the past few months. The longer-term trends are still […] Read more
U.S. grains: Corn eases on Ukraine ceasefire talks
Argentina restricts soymeal, soyoil exports
Reading Time: 2 minutes Chicago | Reuters — Chicago corn fell on Monday, pressured by uncertainty in the Black Sea region as talks of a ceasefire in Ukraine could open up the region to exports, though progress remains uncertain. Wheat eased early in the session, but returned to near even on news that Russia is suspending exports to protect […] Read more
A message from April Stewart, Country Guide's Associate Editor
