CNS Canada — The Canadian dollar slipped after Britain voted Thursday to leave the European Union, a trend which one financial analyst expects to continue in an otherwise uncertain environment. But the loonie hasn’t fallen far enough to bring support to Canadian commodity markets. “Short-term, we’re going to be dealing with the day-to-day volatility and […] Read more
Loonie tanks post-Brexit, but benefits minimal for farmers
ICE weekly outlook: Room for additional downside in canola
CNS Canada –– ICE Futures Canada canola contracts moved lower on the week, and the market’s declines are likely not finished yet, one analyst says. Canola lost $42.90 in the July contract and $35.60 in the November contract in the week ended Wednesday, as a rout of fund selling pressured the market. “I think we’ve […] Read more
Canadian maltsters’ barley needs covered for now
CNS Canada — Consistent demand from the craft brewing industry means solid malt barley contract prices for Canadian farmers, which in turn has driven up acres on the year. Maltster demand has been well met so far this year, one market participant said, but previous years’ weather has caused supplies to fall, propping up spot […] Read more
MP calls for mandatory GMO labels, echoes Vermont regulations
CNS Canada — A Quebec MP has tabled a new bill calling for mandatory labelling of genetically modified (GM) foods, following steps taken by lawmakers south of the border. Pierre-Luc Dusseault, the New Democrat MP for Sherbrooke, introduced Bill C-291 Tuesday morning, calling for the mandatory labelling of genetically engineered (GE) foods in Canada. Dusseault […] Read more
More pulse acres expected to affect handling dynamics
CNS Canada –– Canadian grain handlers are curious how dynamics and timing in the rail freight sector will be managed in the upcoming season, given an expected boost in pulse crop production . For the moment, however, Prairie grain movement has dropped to seasonal lows. This year’s pulse area will likely be the largest on record, according to early estimates […] Read more
Lentils move lower as production anticipation grows
CNS Canada — As negative features continue to mount in Canada’s lentil market, prices are following the tried-and true phrase, ‘What goes up must come down.’ Lentil prices skyrocketed ahead of this year’s growing season, but now the market is starting to trend lower. “This isn’t a disaster; it’s just that gravity is pulling it […] Read more
Durum strays from typical patterns ahead of new crop
CNS Canada — The durum market has moved off from its normal patterns heading into summer, one market analyst says, while exports are trending lower on the year. “It’s a very unique situation because we’ve got bigger crops coming,” said Jerry Klassen, manager of the Canadian office for Swiss-based GAP SA Grains and Produits. France, […] Read more
CBOT weekly outlook: Corn, soy likely to decline in wake of USDA reports
CNS Canada — Corn and soybean markets at the Chicago Board of Trade moved to fresh highs on the week, gaining alongside mounting weather concerns, but one U.S. analyst says the rally could be limited. Soybeans — “It’s just completely insane, but we’ll see what the (U.S. Department of Agriculture) has to say,” said Sean […] Read more
Thunder Bay expects more activity beyond sluggish start
CNS Canada — Since the Port of Thunder Bay’s season opening, its grain handle has been slower compared with previous years, but the port’s CEO says this year is a reversion to normal. The northern Lake Superior port started shipping on March 26, and as of May 31 has moved 1.5 million tonnes of cargo, […] Read more
Favourable conditions boost Manitoba winter cereals
CNS Canada –– Favourable weather throughout spring and winter has allowed Manitoba’s winter cereals to flourish, according to the head of an industry group. “People are bragging about their fall rye,” said Jake Davidson, executive director at Winter Cereals Manitoba. “Wheat is also excellent.” A relatively warm spring with few cold snaps and a mild […] Read more
Cyber-Savvy Farmer
