MarketsFarm — Despite an ever-changing economic environment due to the global COVID-19 pandemic, ag commodity prices may be sheltered from the worst bearish sentiments. “Global import businesses have taken off this week due to lower commodity prices,” said Terry Reilly of Futures International in Chicago. “If we do see an economic slowdown, we’ll probably see […] Read more
CBOT weekly outlook: Bargain buying lifts some commodities
ICE weekly outlook: Volatility hampers canola
MarketsFarm — Canola values have been at the mercy of volatile financial markets this week, trading in lockstep with headlines of plummeting crude oil values and stock indices. “We’re getting into a bit of a pattern in the markets,” Ken Ball of P.I. Financial in Winnipeg said, explaining that prices will show some strength, then […] Read more
Diesel prices expected to trend lower
MarketsFarm — Canadian producers may enjoy a lower diesel bill during spring seeding, as reductions in demand have weighed on diesel prices across North America. Patrick DeHaan, head of petroleum analysis for GasBuddy, said retail diesel prices are down by about 10 to 15 cents per litre since the beginning of the year. The drop […] Read more
Feed weekly outlook: Soft demand weighs on prices
MarketsFarm — Feed grain prices on the Prairies remain soft ahead of spring planting, due to quiet demand from feedlots. “Feedlots are full of grain right now,” Brandon Motz of CorNine Commodities at Lacombe, Alta. said, explaining that there’s currently a lot of grain in feeding pipelines. “Spring replacement into feedlots has been really slow.” […] Read more
Pulse weekly outlook: Conditions optimal for India’s winter crops
MarketsFarm — Cold weather in key growing regions of India could indicate high production levels for winter pulse crops. Heavy showers and colder temperatures in Punjab, Haryana and Uttar Pradesh created “ideal conditions” for winter-sown pulses, according to India’s agriculture commissioner SK Malhotra. Malhotra explained that the output of the winter-grown pulse crops will likely […] Read more
ICE weekly outlook: Canola values stuck in a range
MarketsFarm — Canola prices came off of the long weekend in the green, but quickly gave back those gains at midweek, remaining stagnant and rangebound. While rail blockades across the country have hampered rail activity and backed up grain shipments, cold weather has slowed down farmer movement for canola. That has insulated canola prices from […] Read more
Strong demand supports sunflowers
MarketsFarm — Global demand for sunflower oil is steadily increasing, according to Scoular’s Robert Deraas. Deraas, director of the Scoular Co.’s sunflower and bird food division, explained Wednesday at CropConnect in Winnipeg that the majority of Canadian sunflowers are grown for oil purposes. Increases in demand are driven largely by health-conscious consumers who use sunflower […] Read more
Mexico wants Canadian oats
MarketsFarm — Mexico’s largest oat manufacturer is calling for Canadian oat producers to explore new varieties and increase acreage in order to keep up with global demand. Jorge Sanchez, chief financial officer of Mexico’s Corporativo Grupo Vida Internacional, said Canada’s oat crops need to “adapt to changing growing conditions” in order to meet world demand, […] Read more
Feed weekly outlook: Bids pressured by lower demand
MarketsFarm — Feed grain prices have remained soft, as feedlots in Western Canada are covered for the foreseeable future. Last week, prices for feed barley and feed wheat delivered in Lethbridge were around $230 per tonne, but have come down by about $10 since then, according to Allan Pirness of Market Place Commodities. While these […] Read more
North American hog markets wracked by coronavirus
MarketsFarm — Besides shutting down entire cities and killing more than 1,000 people, China’s novel coronavirus outbreak has wreaked havoc on North America’s hog futures. “It’s a dubious relationship, but it is impacting markets,” said Tyler Fulton, risk management director for Hams Marketing Services in Winnipeg. Lean hog futures moved “in concert with drops in […] Read more
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