Above-average moisture is expected from India’s annual southwest monsoon this year, according to an update from the India Meteorological Department (IMD) released Monday.
India expecting above-average rains from upcoming monsoon
Fund short position steady in canola
The managed money net short position in canola futures held steady during the week ended May 21, according to the latest Commitments of Traders report from the United States Commodity Futures Trading Commission (CFTC).
U.S. corn still moving into feed channels, but new business slow
Corn from the United States continued to move into Canadian feed channels at a steady pace, but little fresh business is going on the books as end users turn their attention to new crop production prospects.
Manitoba seeding progress nears halfway mark
Spring seeding in Manitoba neared the halfway mark during the week ended May 21, with 47 per cent of intended acres in the ground, according to the latest provincial crop report. That compares with 30 per cent the previous week and the five-year average of 52 per cent done.
AAFC raises canola carryout projections, wheat to tighten
Canadian canola exports in both 2023/24 and the upcoming new crop year are unlikely to live up to earlier expectations, causing ending stocks of the oilseed to rise, according to updated supply/demand estimates from Agriculture and Agri-Food Canada (AAFC), released May 21.
Timely rains boost Prairie chickpea prospects
Improved moisture conditions bode well for Saskatchewan chickpea production in 2024, with seeding operations for the crop nearing completion.
ICE canola weekly outlook: Uptrend intact, but watching weather
ICE Futures canola contracts climbed to their highest levels of 2024 in early May before taking a step back on May 8. While the uptrend is still intact, improving moisture conditions across Western Canada could limit any further gains.
CBOT soybeans/corn rangebound, watching weather
Shifting weather forecasts have the potential to sway soybean and corn futures within sideways trading ranges over the next few weeks as farmers in the United States focus on spring seeding.
Seasonal outlook points to warmer Canadian weather
Warmer than normal temperatures are to be expected across most of Canada over the next three months, according to the latest long-range seasonal forecast from Environment and Climate Change Canada as of April 30.
Canola net short position edges lower
The managed money net short position in canola futures edged lower in the latest reporting period, as fund traders covered some of their bearish bets, according to the latest Commitments of Traders report from the United States Commodity Futures Trading Commission (CFTC).
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