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ICE November 2021 canola (candlesticks) with Bollinger (20,2) bands. (Barchart)
Canola, Crops, Markets, Weather

ICE weekly outlook: Volatility to come for canola market

'Tighten up your seatbelt'

By
Reading Time: < 1 minute MarketsFarm — Record-breaking temperatures in British Columbia, lingering extreme heat in the Prairie provinces and little to no precipitation have strengthened an ongoing rally in the ICE Futures canola market. One trader, however, warns that canola contracts may be in for a mercurial few weeks. “We’re clearly in a weather market that is extremely volatile,” […] Read more
People under the ‘heat dome’ look for ways to cool off at Willows Beach at Victoria, B.C. on June 28, 2021. (Photo: Reuters/Chad Hipolito)
General, Weather

Prolonged heat wave breaks Canadian temperature records

By
Reading Time: 2 minutes MarketsFarm — An extreme heat wave affecting all four western provinces, the shores of the Mackenzie River in the Northwest Territories as well as Watson Lake, Yukon, is expected to persist for a week. The “heat dome,” a high-pressure system trapping warmer air, has affected British Columbia the most. The village of Lytton, about 160 […] Read more
EU flags in front of the headquarters of the European Commission in Brussels. (Jorisvo/iStock/Getty Images)
General, Reuters, Weather

EU countries approve deal to overhaul farming subsidies

Subsidies to focus on sustainability, 'eco-schemes'

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Reading Time: 2 minutes Brussels | Reuters — European Union countries on Monday gave the green light to reforms of the bloc’s huge farming subsidy program, after a three-year battle over rules to make it greener and support smaller farms. Negotiators representing the EU’s 27 countries and European Parliament struck the deal on Friday to reform the Common Agricultural […] Read more
CBOT December 2021 corn with 20- and 100-day moving averages (blue and dark green lines) and MGEX, CBOT and K.C. September 2021 wheats (black, yellow and orange lines). (Barchart)
Crops, Markets, Reuters, Weather

U.S. grains: CBOT corn, soy, wheat rally as hot forecasts trump rains

MGEX September wheat also climbs

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Reading Time: 2 minutes Chicago | Reuters — Chicago Board of Trade corn, soybeans and wheat rallied on Monday, with traders focused on forecasts for heat in the western U.S. Midwest that will quickly dry out soils in major production areas. “The forward forecasts have the heat that is presently over the Pacific Northwest to move over the western […] Read more
(Thinkstock photo)
Crops, Markets, Spring Wheat, Weather

Prairie cash wheat: Drought sends bids higher

U.S. July wheat futures up on week

By
Reading Time: 2 minutes MarketsFarm — Mounting drought concerns in the spring wheat-growing regions of Canada and the U.S. saw Prairie cash bids post solid gains during the week ended Thursday. Average CWRS (13.5 per cent) wheat prices were up by $18-$21 per tonne, according to price quotes from a cross-section of delivery points compiled by PDQ (Price and […] Read more
(Dave Bedard photo)
Crops, Markets, Weather

Canola, wheat acres in opposite trends before StatsCan report

'Every commodity was offering options that were profitable'

By
Reading Time: 2 minutes MarketsFarm — Just days prior to Statistics Canada issuing its latest survey-based crop acreage report on Tuesday next week, analysts are estimating a rise in canola acres at the expense of wheat. “Coming through the winter and towards spring seeding, we were looking at canola prices that were at their highest levels of all time,” […] Read more
CBOT December 2021 corn (candlesticks) with 20-day moving average (yellow line) and MGEX, CBOT and K.C. September 2021 wheats (black, green and orange lines). (Barchart)
Crops, Markets, Reuters, Weather

U.S. grains: Court ruling, rains pressure corn, soy

CBOT wheat down, MGEX spring wheat up

By
Reading Time: 2 minutes Chicago | Reuters — Corn and soybean futures tumbled on Friday after a U.S. Supreme Court ruling bolstered a bid by small oil refineries seeking exemptions from laws requiring them to blend ethanol or other biofuels into their products, traders said. “Each time the markets start to stabilize, having priced in the latest round of […] Read more
CBOT November 2021 soybeans (candlesticks) with Bollinger bands (20,2) and ICE November 2021 canola (yellow line, left column). (Barchart)
Crops, Markets, Reuters, Weather

U.S. grains: Soybean futures fall after rain

Chicago corn, wheat futures both mixed

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Reading Time: 2 minutes Chicago | Reuters — Chicago Board of Trade corn soybean futures fell on Thursday, pressured by rain in key growing areas of the U.S. Midwest this week, traders said. “I think it is probably confirmation of fairly widespread rain in areas that were in really dire straits,” said Chuck Shelby, president of Risk Management Commodities. […] Read more
ICE July 2021 canola (candlesticks) with 20-day movjng average (green line), ICE November 2021 canola (yellow line) and CBOT July 2021 soybeans (black line, left column). (Barchart)
Canola, Crops, Markets, Weather

ICE weekly outlook: Weather, carryout support canola

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Reading Time: 2 minutes MarketsFarm — As higher-than-normal temperatures become almost a weekly occurrence in Western Canada amidst tightening carryout stocks, canola seems primed for another extended rally. Despite rains in Western Canada over the past three weeks, providing some relief for canola crops and triggering fund liquidation on the markets, carryout remains very low, with warmer temperatures exacerbating […] Read more

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