CNS Canada — A mix of freezing and warming conditions put Manitoba’s winter cereals in uncertain condition, following months of promising weather, according to the head of an industry group. Manitoba’s winter wheat and fall rye crops had ample snow cover throughout the winter, which supported crops, but more recently, conditions turned slushy, then froze […] Read more
Mixed conditions loom over Manitoba winter cereals
Peas hold range ahead of upcoming production
CNS Canada — A policy extension from major pulse buyer India has brought short-term support to Canada’s dry pea market, but values are hanging in a range, price- and demand-wise. India in late March extended its fumigation policy requirement for three months, allowing the market some breathing room, though officials still hope to come to […] Read more
CBOT weekly outlook: Soybeans, corn have downside risk
CNS Canada — Soybean and corn futures at the Chicago Board of Trade have short-term downside potential, one U.S. analyst says, as traders watch exports, weather and fund positioning. Since last week, soybeans have lost close to 25 cents per bushel in the May contract, closing at $9.4425, while corn advanced 6.25 cents per bushel, […] Read more
ICE weekly outlook: Canola along for ride with soybeans
CNS Canada — While springtime canola supplies look favourable for prices, bearish oilseed situations elsewhere leave ICE Futures Canada prices straddled with downside, especially ahead of a key production report. “The supply and demand fundamentals on canola are all optimistic, better than they are on most oilseeds,” said Mike Jubinville of ProFarmer Canada. “But let’s […] Read more
Higher prices could give flax acres a chance
CNS Canada — Strong demand for Canadian flax, combined with small production, has driven prices up, which could tempt producers making seeding choices this spring. Last year, the amount of flax seeded in Canada was down about a third from the previous growing season. As a result, stocks are short, despite large carryover. Demand, however, […] Read more
Speculation shrouds grain demand, rejections from Egypt
CNS Canada — Egypt, the world’s biggest buyer of wheat, rejected three cargoes of the grain last week — its first rejections since it overhauled its inspection system and relaxed its import policy last fall. Three cargoes of wheat — two Russian, one Argentinian — purchased by Egyptian grain buyer GASC were rejected last week […] Read more
CBOT weekly outlook: Soy, corn set to move sideways to lower
CNS Canada — As South American supplies put pressure on corn and soybean futures at the Chicago Board of Trade, investors are watching key technical levels in both markets. Soybeans — Soybean values at the Chicago Board of Trade (CBOT) are likely to trend sideways to lower, said Terry Reilly, senior commodity analyst at Futures […] Read more
Durum lacks momentum ahead of competing harvests
CNS Canada — Canadian durum prices are at a standstill as the market looks to upcoming production, while domestic crops act as a “wild card,” one Winnipeg-based analyst says. “The durum market is certainly quiet right now. We’re kind of in that period where we’re in a lull,” said Jerry Klassen, manager of the Canadian […] Read more
ICE weekly outlook: Canola falls on week, outlook bullish
CNS Canada –– Canola declined on the week with near-term pressure, but looking to the spring, the market may tighten as crops of seasons past haunt upcoming production. Since last week, canola lost $5.70 per tonne in the May contract, closing at $527.20 on Wednesday. The canola market declined with influence from Chicago Board of […] Read more
Canola’s rally pushes cash prices higher
CNS Canada — Canola cash prices notched gains with recent news out of the U.S., but the market remains rangebound, and near-term support is likely to run dry. Canola cash prices were supported by a two-day rally in the futures, said Mike Jubinville of ProFarmer Canada, but crushers have widened out the basis for nearby […] Read more
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