MarketsFarm — ICE Futures canola contracts climbed to fresh contract highs during the first week of April, but ran into profit-taking resistance and could be due for more losses as the market looks overpriced. “We’re starting to see canola give back some of the extra premium it’s been putting on,” said Ken Ball of PI […] Read more
ICE weekly outlook: Overvalued canola market due for correction
ICE weekly outlook: Strong canola market to ‘see both sides of rainbow’
MarketsFarm — ICE Futures canola contracts climbed to their highest levels ever during the week ended Wednesday before running into some profit-taking resistance. Its general uptrend remains intact for the time being, but a downturn is also inevitable. The nearby May canola contract hit a session high of $1,177.80 per tonne on Wednesday, before backing […] Read more
Prairie cash wheat: Bids rise in choppy activity
U.S. wheat futures up on week overall
MarketsFarm — Spring wheat bids across Western Canada moved higher during the week ended Thursday, although the uncertain situation in Ukraine saw some wide price swings in U.S. wheat futures. Average Canada Western Red Spring (CWRS, 13.5 per cent protein) wheat prices were up by $11.30-$16.30 per tonne, according to price quotes from a cross-section […] Read more
AAFC warns of uncertainty in latest crop outlook
MarketsFarm — The supply/demand balance sheets for Canada’s major crops were largely left unchanged in the latest outlook Friday from Agriculture and Agri-Food Canada. While the March report only saw minor revisions, the government agency cautioned that “the economic outlook, for the world and Canadian grain markets, is particularly uncertain due to the Russian invasion […] Read more
Feed weekly outlook: Sector bracing for logistics challenge
A CP lockout could put feeders weeks behind in supplies
MarketsFarm — Feed grain buyers in Alberta’s feedlot alley are well covered with contracted supplies, but the logistics of getting that grain where it needs to be are facing some uncertainty with looming labour action at Canadian Pacific Railway. Buyers in feedlot alley are about 80 per cent covered right now, said Jim Beusekom of […] Read more
Spring road bans coming into effect across Prairies
MarketsFarm — Warming temperatures and melting snow across Western Canada may cause some disruptions to grain and livestock movement over the next few weeks as seasonal spring road restrictions come into effect across the Prairies. Annual spring road restrictions set axle weight limits for vehicles moving on certain roads, in an effort to reduce the […] Read more
Pulse sector hails renewed trade talks with India
MarketsFarm — Canada and India have formerly relaunched trade negotiations that could lead to increased Canadian pulse exports to the country. Canada’s Trade Minister Mary Ng met with her Indian counterpart Shri Piyush Goyal in New Delhi on Friday to discuss economic relationships between the two countries. While highlighting existing trade relationships, the ministers also […] Read more
ICE weekly outlook: Canola’s contract highs still underpriced
MarketsFarm — The ICE Futures canola market posted solid gains during the week ended Wednesday, hitting fresh contract highs in many months. The most active May contract hit a session high of $1,143.70 per tonne on Wednesday, but settled off that mark at $1,125.20 per tonne. While canola may be trading in uncharted territory, there […] Read more
Sunflower market seeing broad strength
MarketsFarm — Sunflower seed has found itself caught up with the general strength seen in most agricultural markets, with the Russian invasion of Ukraine adding another layer of uncertainty to the market as the two countries are both major world producers. “We believe sunflowers are a very attractive option going into 2022,” said Robert Deraas, […] Read more
CBOT weekly outlook: Wheat futures in a war trading scenario
MarketsFarm — Russia’s invasion of Ukraine has roiled grain and oilseed markets, with the unprecedented situation likely to lead to volatile and choppy activity in wheat, corn and soybean futures for the time being. Chicago and Kansas City winter wheat contracts have posted the largest gains in response to the conflict, with the closure of […] Read more
Cyber-Savvy Farmer
