CNS Canada — Cash spring wheat bids across Western Canada were narrowly mixed during the week ended Friday, with prices up slightly in some locations and down in others. Spillover from gains in U.S. futures was offset by the bearish influence of the rising Canadian dollar. Depending on the location, average Canada Western Red Spring […] Read more
Tag Archives mgex — page 28
Prairie spring wheat bids mixed amid opposing outside factors
U.S. wheat futures could be scraping bottom
CNS Canada — A general downtrend in U.S. wheat futures remains in place, with all three markets hitting fresh contract lows over the past week. However, there may not be much more room to the downside, according to an analyst. “The (U.S. Department of Agriculture) reports on Tuesday (Feb. 9) were not beneficial for the […] Read more
U.S. wheat up with short-covering, but more downside possible
CNS Canada — U.S. wheat futures hit contract lows over the past week, before seeing a short-covering correction in recent days. However, with ample world supplies and poor export demand, the path of least resistance likely remains lower, according to market participants. The fundamentals are pretty bearish for wheat, but the market structure is looking […] Read more
Prairie spring wheat bids firm
CNS Canada — Cash spring wheat bids across Western Canada generally saw some improvement during the week ended Friday, as basis levels saw some improvements at many locations. Average Canada Western Red Spring (CWRS) wheat prices were steady to up by as much as C$3 per tonne during the week, according to price quotes from […] Read more
U.S. wheat futures expected to retest nearby lows
CNS Canada –– U.S. wheat futures may have corrected off of nearby lows, but the nearby path of least resistance remains pointed lower, according to a market analyst. “In the big picture, we have plenty of supplies and demand has been lacklustre,” said Randy Martinson of Progressive Ag at Fargo, N.D. With export demand eroding, […] Read more
U.S. grains: China woes push soy to six-year low, soyoil to nine-year low
Chicago | Reuters — U.S. soybean futures dropped to their lowest levels in over six years on Monday and soyoil touched a nine-year low as concerns about China’s faltering economy fuelled selloffs in commodities and equities markets. Broad selling pressured markets early as investors rushed for the exits after stock prices in China, the world’s […] Read more
U.S. wheat futures seen stalling
CNS Canada –– U.S. wheat futures posted solid gains over the month of June but appear to be stalling out in the early days of July as the market looks for more fresh supportive news. “The bull needs to be fed every day, and right now it’s not getting anything to keep it going,” said […] Read more
Prairie wheat bids up sharply with weather worries
CNS Canada — Cash bids for Prairie wheat were up sharply during the week ended Friday, as weather worries in North America resulted in improved basis levels and pushed U.S. futures sharply higher. Parts of Western Canada are too dry, harming production, while excess moisture in the U.S. is increasing disease pressure and slowing the […] Read more
Prairie wheat bids down with U.S. futures, rising loonie
CNS Canada — Cash bids for Canadian wheat dropped during the week ended Friday, as the combination of a rising Canadian dollar and dropping U.S. futures weighed on prices across the Prairies. Average Canada Western Red Spring (CWRS) wheat prices were C$12-$16 per tonne lower, with bids ranging from about $204 per tonne in north-central […] Read more
Nearby spring wheat charts looking bullish
CNS Canada — Nearby technical signals for MGEX spring wheat futures in Minneapolis have turned bullish, as prices rallied during the first part of June. However, the market remains rangebound from a longer-term perspective. The July wheat contact in Minneapolis has climbed by 50 cents per bushel since June 1, and settled Tuesday at US$5.8275. […] Read more
Cyber-Savvy Farmer
