CNS Canada –– With Statistics Canada releasing its estimates Wednesday for crop stocks as of Dec. 31, canola supplies are generally expected to fall compared to year-ago levels. The lower stocks estimates are mainly linked to smaller production in 2014-15, compared to the record large crop grown in 2013-14, analysts say. “Stocks were pretty high […] Read more
StatsCan canola stocks expected to drop from year-ago mark
ICE weekly outlook: Canola overdue for a setback
CNS Canada –– ICE Futures Canada canola futures ended lower during the week ended Wednesday, as the market was overdue for a setback. Canola futures have outpaced outside oilseed markets to the upside in recent weeks, but have hit resistance and are now due for some weakness, analysts say. “What was supporting canola was spread […] Read more
Canada’s canola crush pace hits six-month high
CNS Canada — Canada’s canola crushing pace jumped to its highest level in six months during the week ended Wednesday, according to data from the Canadian Oilseed Processors Association (COPA). Domestic crushers processed 153,102 tonnes of canola during the week, up more than five per cent from the week prior, COPA data shows. The last […] Read more
Grasshopper risk light in most of Western Canada
CNS Canada — Most of Western Canada is expected to see low populations of grasshoppers in 2015, although there are a few areas of concern, according to forecasts from the three provinces. Most of Manitoba has a low risk of seeing high grasshopper populations this year, according to a forecast from Manitoba Agriculture, Food and […] Read more
Prairie farmers to benefit from lower ocean freight rates
CNS Canada — Western Canada’s grain farmers are expected to benefit from recent lower ocean freight rates as the Baltic Dry Index (BDI), a measurement of such rates, has dropped significantly over the past couple of months. The BDI was quoted Friday at 749 points, up from a low of 709 points seen earlier in […] Read more
CBOT soybeans poised to drop below US$10
CNS Canada — The Chicago Board of Trade soybean futures market has dropped sharply during the week ended Wednesday, and is poised to fall even further. “For March soybeans, I think it could potentially trade back to the US$9.45-$9.50 per bushel area,” said Terry Reilly of Futures International in Chicago (all figures US$). A bearish […] Read more
Canola cash market lagging strength in ICE futures
CNS Canada — ICE Futures Canada canola futures have strengthened recently, but the western Canadian cash market for canola hasn’t followed along. Farmers “keep telling me that the futures go up, but the basis isn’t keeping pace,” said Keith Ferley of RBC Dominion Securities. Some locations, he added, have widened out basis levels so much […] Read more
Prairie wheat bids fall as U.S. futures continue to tumble
CNS Canada –– Average cash bids for Canada Western Red Spring (CWRS) wheat moved lower during the week ended Friday, as U.S. wheat futures continued to tumble. CWRS prices were ranged from $3.75 to $6 per tonne lower in Alberta and Saskatchewan. The best pricing opportunities were still available in Manitoba, where prices were down […] Read more
ICE weekly outlook: Weak loonie to underpin canola futures
CNS Canada — The ICE Futures Canada canola market was stronger during the week ended Wednesday, taking some direction from the rally seen in Chicago soybean futures. Soybeans gained about US30 cents per bushel during the week, but canola was lagging to the upside as traders bet the U.S. rally would be short-lived, said Ken […] Read more
Prairie CWRS bids ease along with U.S. futures
CNS Canada — Average cash bids for Canada Western Red Spring (CWRS) wheat were softer during the week, following declines seen in U.S. wheat futures. CWRS prices ranged from $4 to $7 per tonne lower in Alberta and Saskatchewan. The best pricing opportunities were still available in Manitoba, where prices were down almost $8 at […] Read more
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