The net fund short position in canola fell to its lowest level in six months during the week ended Oct. 22, as speculators covered bearish bets and put on new longs, according to the latest Commitments of Traders report from the United States Commodity Futures Trading Commission (CFTC).
Fund short position in canola smallest in six months
Prairie wheat bids mixed as U.S. futures, loonie weaken
Hard red spring wheat bids in Western Canada were mixed during the week ended Oct. 24, although the general bias was lower in most locations.
Prairie feed grains market watching U.S. corn
Rising corn prices in the United States could provide support for feed grains in Western Canada, although the current price spread remains conducive for imports of U.S. corn into Canadian feed channels.
Manitoba harvest nearly done, only corn/sunflowers left
Harvest operations across Manitoba are nearly complete, with only sunflowers and corn still left to come off the fields, according to the latest provincial crop report for the week ended Oct. 22.
Larger stocks limiting price outlook for lentils/peas
An expected increase in Canadian lentil and pea exports in 2024/25 is unlikely to result in higher prices, as increased production should cause the stocks-to-use ratios to widen.
AAFC lowers canola ending stocks estimate
Canadian canola ending stocks for the 2024-25 marketing year are forecast to be tighter than earlier expectations, according to updated supply/demand estimates from Agriculture and Agri-Food Canada (AAFC), released Oct. 21.
Fund short position in canola dips for fourth week
The net fund short position in canola declined for the fourth week in a row in mid-October, according to the latest Commitments of Traders report from the United States Commodity Futures Trading Commission (CFTC).
Western Canadian wheat bids soften with U.S. futures
Hard red spring wheat bids in Western retreated from their recent highs during the week ended Oct. 17 as a downturn in the United States futures weighed on prices.
ICE canola weekly outlook: Weak soybeans a “problem”
The ICE Futures canola market backed away from nearby highs during the week ended Oct. 16, as losses in Chicago soybeans and soyoil weighed on values. With the canola harvest in its final stages across Western Canada, the market will likely settle in a sideways range while looking to outside influences for direction.
Prairie spring wheat bids rise as loonie drops
Hard red spring wheat bids in Western Canada moved to their highest levels in three months during the week ended Oct. 10, as a firm tone in the United States futures and sharp weakness in the Canadian dollar provided support.
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