MarketsFarm — Wheat bids in Western Canada were generally up for the week ended Aug. 8, with gains in Canada Western Red Spring (CWRS) and Canada Prairie Spring Red (CPSR) wheats in all locations. Durum (CWAD) was either side of steady, depending on location. The Canadian dollar was down by almost a quarter of a […] Read more
Cash wheat: Prices stronger in varying degrees
ICE weekly outlook: Canola carryover looms ahead of harvest
MarketsFarm — There’s a large canola carryover on farms and little of the soon-to-come 2019 crop has been sold, according to Winnipeg-based analyst Bill Craddock. “Farmers think the price is too cheap,” he said. However, the price has come down, from about $11 per bushel to around $9.50, he added, noting there likely won’t be […] Read more
Cattle feeding getting expensive in Manitoba
MarketsFarm – With a looming feed shortage, it has been getting more costly to feed cattle, said Mike Nernberg, marketing representative for Winnipeg Livestock Sales. Nernberg estimated it has been costing about C$4.00 per day to feed an individual animal, which adds up given the amount a feedlot is feeding and for the length of […] Read more
ICE weekly outlook: Canola bids not moving much
Winnipeg | MarketsFarm – So far this summer, canola prices have continued to remain range-bound, said David Derwin of PI Financial in Winnipeg, Man. “On a week to week basis, we’re kind of at the low end of the range,” Derwin commented, noting C$450 per tonne has been near the low end of that range. […] Read more
ICE weekly outlook: Keep an eye on soybeans, loonie
MarketsFarm – For canola prices, the key influences will be soybeans as well as the Canadian dollar, according to Errol Anderson of ProMarket Communications in Calgary, Alta. Anderson said soybeans on the Chicago Board of Trade (CBOT) were higher, due to trade negotiations between United States and China resuming on July 29. That could push […] Read more
Alberta, Ontario sugar beet producers hope for good year
MarketsFarm — Sugar beet farmers in Canada’s two main growing provinces are hoping for a good year, according to the leaders their respective provincial associations. Wet conditions extended planting in Ontario, said Rob McKerrall, chair of the Ontario Sugarbeet Growers’ Association (OSGA). “There was probably a third of the crop went in fairly early. It […] Read more
Pea, canola protein processing plant planned for outside Winnipeg
MarketsFarm — Somewhere outside Winnipeg, a new pea and canola processing plant is scheduled to be in production by August 2020. The $65 million facility is expected to process up to 20,000 tonnes of yellow field peas annually and will be the world’s only commercial-scale food-grade canola protein production facility. No figure for the plant’s […] Read more
Federal report expects canola output down, wheat up
MarketsFarm — Expectations for canola production in Canada were revised downward Friday by Agriculture and Agri-Food Canada (AAFC). AAFC has now estimated Canadian farmers will produce 18.575 million tonnes of canola in 2019, down about 8.7 per cent from its previous estimate. Earlier this week, MarketsFarm analyst Bruce Burnett predicted canola production would be down […] Read more
CBOT weekly outlook: Market stuck in range until acreage report
MarketsFarm — Until the U.S. Department of Agriculture issues its next acreage report, expect the Chicago Board of Trade to remain stuck within a range, a trader said. “Until the August report and the USDA verifies the plenty of preventative planting acres, and if August happens to be hot and dry side, I can expect […] Read more
ICE weekly outlook: Not much faith in USDA’s WASDE
MarketsFarm — For one trader, the monthly world agriculture supply and demand estimates (WASDE) from the U.S. Department of Agriculture (USDA), aren’t something he spends a lot of time dealing with. “I don’t put a lot of faith in them,” said David Derwin of PI Financial in Winnipeg. This month’s WASDE could be something toward […] Read more
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