MarketsFarm — The managed money net short position in canola grew in early May as fund traders were busy liquidating long positions and moving more money to the short side of the market, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As of May 2, the net […] Read more
Canola fund short position grows
Funds also net short in U.S. wheats
CBOT weekly outlook: U.S. wheat futures correct higher
Traders' eyes remain on weather
MarketsFarm — After dropping to their weakest levels of the past two years, U.S. wheat futures were due for the corrective bounce that saw all three markets posted sharp gains on Wednesday. Soybeans and corn saw spillover support from the rally in wheat, with all three markets watching weather conditions through the growing season. U.S. […] Read more
Fund short position in canola grows for first time in a month
Corn moves from net long to net short
MarketsFarm — After covering bearish bets for four straight weeks, managed money fund traders were back on the sell side of the canola market in late April, covering longs and putting on new short positions. According to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC), as of April 25, […] Read more
Prairie cash wheat: Bids drop sharply
U.S. wheat futures well down on week
MarketsFarm — Spring wheat bids in Western Canada dropped sharply lower during the last week of April, as a selloff in U.S. futures more than offset any support from a weaker Canadian dollar. Average Canada Western Red Spring (CWRS, 13.5 per cent protein) wheat prices were down by $25.90-$27.50 per tonne across the Prairies, according […] Read more
Feed weekly outlook: Grain area to increase this year
Oats area expected to be reduced
MarketsFarm — Early signs point to increased Canadian feed grain production in 2023-24, with record corn acreage intentions and increases in both barley and wheat area on the year, according to the latest estimates from Statistics Canada. Planted corn area in the country is forecast at 3.725 million acres in 2023, which would be up […] Read more
StatCan expects more wheat, canola acres in 2023
Corn, soy, barley acres also expected up
MarketsFarm — Canadian farmers intend to plant more wheat and canola in 2023, with soybeans, corn and barley area also forecast to expand, according to Statistics Canada’s projections for field crop area. The increases in those crops will come at the expense of oats, lentils and peas, with intended summerfallow area down to its smallest […] Read more
Pulse weekly outlook: Larger pea, chickpea exports expected
China, Bangladesh among major destinations
MarketsFarm — Canadian pea, chickpea and edible bean exports will likely beat earlier expectations during the current 2022-23 marketing year, according to updated supply/demand projections from Agriculture and Agri-Food Canada. The stocks-to-use rations for the three crops should also tighten as a result. In its report Friday, the government agency upped its call for Canadian […] Read more
AAFC raises canola stocks projections
StatCan's early acreage estimates due out this week
MarketsFarm — Canola ending stocks for both the current marketing year and 2023-24 were raised slightly by Agriculture and Agri-Food Canada (AAFC) in its latest supply/demand projections, released Friday. The government agency lowered its canola export forecast for 2022-23 by 200,000 tonnes from March, now pegging movement at 8.4 million tonnes. With domestic usage left […] Read more
ICE weekly outlook: Weather to influence canola price movement
Short-covering seen supporting front months for now
MarketsFarm — Canola contracts on the ICE Futures platform held relatively rangebound during the week ended Wednesday, trading within a $20 per tonne range in most months as market participants wait to get a better handle on new-crop prospects. “There’s some concern developing on seeding delays,” said Jamie Wilton of RJ O’Brien in Winnipeg, adding […] Read more
CBOT weekly outlook: Weather in focus for Chicago grains, oilseeds
Heavy snowpack remains in parts of northern Plains
MarketsFarm — All eyes in the Chicago grain and oilseed markets are focused on weather conditions as the South American harvest progresses and North American farmers begin seeding their next crop. The U.S. Department of Agriculture’s monthly supply/demand report (WASDE), released Tuesday, left ending stocks projections for both soybeans and corn in the country unchanged […] Read more
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