MarketsFarm — After showing considerable strength in prior trading sessions, canola contracts were either side of unchanged at midweek. David Derwin of P.I. Financial in Winnipeg said canola was holding steady in comparison to other vegetable oils. “There’s general weakness in other markets, but canola hasn’t had too much of a move,” he said. Considerable […] Read more
ICE weekly outlook: Canola steady at midweek
Spring seeding more or less underway
Feed weekly outlook: Overwintered barley beats expectations
MarketsFarm — Last fall’s remaining barley crops coming off the field this spring were at risk of causing a supply glut in feed grain markets. Luckily, however, those overwintered barley crops are in better-than-expected condition, and not all of them are going into the feed market. “We thought there would be a lot more coming […] Read more
Pulse weekly outlook: Chickpea acreage expected lower
MarketsFarm — High global prices in the 2017-18 marketing year caused a global spike in chickpea production in 2018. It’s since taken a while for consumers to “chew through supplies,” which has put pressure on prices, according to Chuck Penner of LeftField Commodities. In a kabuli chickpea global outlook webinar hosted by the Global Pulse […] Read more
CBOT weekly outlook: Prices soft on lack of demand
MarketsFarm — Technical buying was a supportive factor on the Chicago Board of Trade in late April, but commodity futures were broadly lower due to a lack of export activity. However, China reportedly remains committed to fulfilling its end of its Phase One trade agreement with the United States. Although soybean futures have been near […] Read more
ICE weekly outlook: Canola gains strength at midweek
MarketsFarm — After showing considerable weakness in prior trading sessions, canola contracts tried to regain some ground at midweek. Ken Ball of P.I. Financial in Winnipeg said canola was oversold due to bearish sentiments from outside markets earlier in the week, but prices were steadily bouncing back. Nearby ICE Futures canola was down Monday by […] Read more
Feed weekly outlook: Prices steady, demand quiet
MarketsFarm — Demand for feed grains has slowed down on the Prairies due to uncertainty in cattle markets posed by the COVID-19 pandemic. Many cattle processing and packing plants across North America have closed or slowed production due to lack of staff, leading to widespread issues in feed grain supply chains. “The lack of forward […] Read more
CBOT weekly outlook: Corn values stabilize
MarketsFarm — The April world agriculture supply and demand estimates (WASDE) from the U.S. Department of Agriculture didn’t hold much sway over corn on the Chicago Board of Trade (CBOT) on Thursday. Corn ending stocks for the U.S. were pegged at 53.15 million tonnes, about five million tonnes higher than the previous month’s report. However, […] Read more
Cold spring weather expected for Prairies
MarketsFarm — Temperatures in the Prairie provinces are expected to be colder than average this spring. “There’s no indication that temperatures will be above normal,” said Bruce Burnett, director of markets and weather for MarketsFarm in Winnipeg. Low temperatures will likely cause issues for seeding in areas of the Prairies that have received late-spring snowstorms. […] Read more
Feed weekly outlook: Strong demand supports prices
MarketsFarm — Feed grain prices on the Prairies have been stronger, and well supported by strong demand. Nelson Neumann of Agfinity in Lethbridge said strong feed barley prices were due to an uptick in exports from the Prairie provinces. “That provided a nice support to the price floor,” he said, noting market participants had previously […] Read more
ICE weekly outlook: Canola loses strength at midweek
MarketsFarm — ICE Futures canola contracts succumbed to pressure from comparable vegetable oils at midweek, after showing strength earlier in the week. Ken Ball of P.I. Financial said lower soyoil values put canola “under tremendous pressure.” Nearby soyoil contracts were down by about a penny on Wednesday. Earlier in the week, rumours swirled regarding the […] Read more
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