Canola across most of the Prairies appeared to be in good shape during the second last week of June, with very little prospect of a major rally according to a trader.
Planting progress greatly accelerated across Manitoba during the week ended May 12.
The province’s crop report released on May 14 showed that seeding was at 30 per cent completion, compared to just four per cent the week before.
Prices for wheat on the Canadian Prairies were either side of steady by the week ended May 9. There were losses for Canadian Western Red Spring Wheat and Canadian Western Amber Durum, but Canada Prairie Red Spring Wheat incurred increases.
There are simply too many bearish factors that continue to weigh on canola values, leaving the oilseed unable make any sort of turnaround in early May, according to Tony Tryhuk of RBC Dominion Securities in Winnipeg.
Planted dry bean acres in Manitoba are expected to increase for 2024/25. While Statistics Canada projected the Keystone Province to see 201,000 acres, a specialist with Manitoba Agriculture said those acres are likely to be a little bit below the StatCan estimate.
There has been some movement in feed grain prices across the Canadian Prairies during the week ended Apr. 3, particularly in Alberta. Susanne Leclerc of Market Master Ltd. in Edmonton chalked that up to factors such as road bans and the approach of spring seeding. She also noted a change in corn.
Flax prices have been steady to higher over the last month with old crop prices on the Canadian Prairies adding 75 cents per bushel, while those in North Dakota remained unchanged.