MarketsFarm — Wheat bids across Western Canada moved higher during the week ended Thursday, as U.S. futures saw a corrective bounce after falling to their softest levels in over a month. Average Canada Western Red Spring (CWRS, 13.5 per cent protein) wheat prices were up by $8.50-$9 per tonne, according to price quotes from a […] Read more
Prairie cash wheat: Bids correct higher
U.S. wheat futures up on week
Feed weekly outlook: Canada’s barley exports show no signs of slowing
MarketsFarm — Tight Canadian barley supplies, due in part to surging export demand, have kept feed grain bids well supported in the Prairies over the past few months. The cupboards, however, are not quite bare, with weekly Canadian barley exports hitting their second-highest level of the crop-year-to-date. Canada exported 175,500 tonnes of barley during the […] Read more
CBOT weekly outlook: Soy, corn watching weather
MarketsFarm — Corn and soybean futures at the Chicago Board of Trade have moved off of highs hit earlier in May as good planting conditions in the U.S. Midwest weighed on values. “We’re pretty much in a weather market right now,” Scott Capinegro of Barrington Commodity Brokers in Illinois said. He expected solid prices for […] Read more
Pulse weekly outlook: India likely in need of more lentils
MarketsFarm — A recent webinar co-hosted by the India Pulses and Grains Association and Pulse Australia focused on lentil production in the two countries, with tighter Indian supplies likely leading to increased import demand going forward. “The share of Australian lentils in India’s import has been 10 to 15 per cent over the last seven-eight […] Read more
Dry weather may cut into Canadian crop prospects, AAFC says
MarketsFarm — Dry weather conditions across Western Canada could cut into production prospects in the region, according to updated supply/demand tables released Thursday by Agriculture and Agri-Food Canada. “Extremely dry conditions prevail in large parts of Western Canada, allowing for rapid seeding progress which is trending ahead of normal; however, timely precipitation this spring and […] Read more
Net long position in canola edging down
Net long increases in Chicago, K.C. wheat
MarketsFarm — The managed money net long position in canola has edged down over the past few months, hitting its lowest level since August 2020 in the latest Commitment of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As of Tuesday, managed money fund traders were holding a net long position in ICE […] Read more
ICE weekly outlook: Attention turns to new-crop canola
'Somebody's feet will be held to the fire'
MarketsFarm — Wide price swings in the nearby ICE Futures July canola contract over the past few weeks have sent most commercial trade into the new-crop November, with direction in the front month hard to predict given recent volatility. “Where (July canola) finally goes off the board, I have no idea, but I wouldn’t be […] Read more
Feed weekly outlook: Falling futures suggest first cracks in lofty market
MarketsFarm — A sharp drop in corn and wheat futures prices at the Chicago Board of Trade over the past week could be the sign of the first cracks in the western Canadian feed grain market. That said, tight supplies and uncertainty over new-crop grain production remain supportive. “With the move on the futures market […] Read more
Ocean freight rates at decade highs
MarketsFarm — Ocean freight rates have climbed steadily higher over the past year, recovering from the lows hit at the start of the pandemic in early 2020 to see their highest levels in over a decade. The Baltic Dry Index (BDI), a major indicator of shipping rates, hit a high of 3,266 points on Wednesday. […] Read more
ICE weekly outlook: Canola’s uptrend intact for now
MarketsFarm — The ICE Futures canola market continued its months-long upward trajectory during the week ended Wednesday, hitting fresh contract highs in many months as tight old-crop supplies and weather uncertainty for the new crop kept speculators on the buy side. While selling was starting to come forward to temper gains in the new-crop months, […] Read more
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