MarketsFarm – Red spring wheat bids in Western Canada were down, while durum prices were mixed during the week ended May 25, after the release of bearish data. On May 23, Agriculture and Agri-Food Canada (AAFC) presented its monthly principal field crop report, which estimated 2023-24 wheat production (including durum) at 35.75 million tonnes. This […] Read more
Tag Archives k.c. wheat — page 13
Prairie cash wheat: Spring wheat bids drop
Influx of cheap Russian wheat largely responsible for price declines
Speculative short position declines in canola
Traders' net long in CBOT soy also reduced
MarketsFarm — The speculative short position in canola continued to shrink during the week ended May 15, as speculators bought back short positions and put on new longs, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As of May 15, 2023, the net managed money short position […] Read more
Prairie cash wheat: Bids soften
Chicago, Minneapolis wheats down on week
MarketsFarm — Spring wheat bids in Western Canada softened during the week ended Thursday, as the bearish influence of the extended Black Sea Grain Initiative more than countered any support from poor winter wheat production prospects in the U.S. Average Canada Western Red Spring (CWRS, 13.5 per cent protein) wheat prices were down by $3.60-$6.70 […] Read more
Canola fund short position narrows slightly in early May
Traders reduce net long in soybeans
MarketsFarm –– Fund traders were buying back short positions and putting on some new longs in the canola futures market during the first full week of May, causing the net short position to narrow in slightly, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As of May […] Read more
U.S. grains: CBOT wheat gains on small harvest outlook
Corn, soybeans mostly lower
Chicago | Reuters — U.S. wheat futures rose on Friday, with traders focused on forecasts for crop shortfalls in the drought-stricken U.S. Plains, while corn and soybeans were mostly lower on a government outlook for record-large harvests of both crops. K.C. hard red winter wheat futures posted the biggest gains, surging more than four per […] Read more
Prairie cash wheat: U.S. futures lift spring wheat bids
Durum prices down on week
MarketsFarm — Western Canadian spring wheat bids were the beneficiaries of rising U.S. futures prices for the week ended Thursday. Wheat futures on the Chicago Board of Trade (CBOT) were under pressure early in the week due to healthy yet ineffective rains over wheat-growing areas in the U.S. The U.S. Department of Agriculture raised the […] 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
Prairie cash wheat: Red wheats up slightly on week
Prairie durum values down on week
MarketsFarm — Despite adverse weather conditions in both Canada and the U.S., as well as poor growing conditions south of the border, western Canadian wheat bids saw slight increases for the week ended Thursday. A spring snowstorm descended on eastern Saskatchewan, western Manitoba and North Dakota on Wednesday and Thursday, with some parts seeing up […] Read more
Prairie cash wheat: Stronger loonie sends bids down
U.S. wheat futures also down on week
MarketsFarm — A rising Canadian dollar helped lower western Canadian wheat bids for the week ended Thursday despite an array of supportive factors. As the central and southern U.S. Plains deal with severe drought in winter wheat-growing areas, a large snowpack in the northern Plains threatens to delay spring wheat seeding by a few weeks. […] Read more
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