MarketsFarm — Early signs point to a sizeable increase in Canadian pulse production in 2022-23, but co-operative weather will be needed to meet those expectations. Strong returns over the past year relative to other crops should encourage farmers to seed more peas and lentils in 2022, according to the first outlook for the new crop […] Read more
Pulse weekly outlook: Early signs point to larger Canadian crops
Larger Canadian crops predicted in AAFC’s first 2022 outlook
MarketsFarm — A return to trend-line yields after the past year’s drought should lead to a significant increase in Canadian crop production in 2022, according to the first supply/demand estimates for the 2022-23 season from Agriculture and Agri-Food Canada (AAFC), released late Friday. Seeded area is expected to be up for wheat and the pulses, […] Read more
ICE weekly outlook: Choppy canola trade expected
Old-crop 'likely pushing the upper limits'
MarketsFarm — A speculative selloff weighed heavily on the ICE Futures canola market during the week ended Wednesday, before the selling subsided and prices regained much of their lost ground. “For prices this high, that’s pretty routine stuff,” said Ken Ball of PI Financial in Winnipeg on the $80 per tonne drop in the nearby […] Read more
CBOT weekly outlook: ‘No fireworks’ in January USDA reports
MarketsFarm — Updated supply/demand data from the U.S. Department of Agriculture were slightly bearish for grains and relatively neutral for soybeans, although there were no real surprises, according to an analyst. “There were no fireworks out of this report,” said Terry Reilly of Futures International in Chicago. World numbers put some pressure on wheat futures, […] Read more
Highs may be in on flax as attention turns to new crop
MarketsFarm — The highs may be in for flaxseed bids in Western Canada, with end-users covered for the time being as attention turns to the 2022 crop. “(Canadian flax) is expensive relative to other markets,” said analyst Marlene Boersch of Mercantile Consulting, speaking via Zoom in Winnipeg on Tuesday to the annual Crop Production Week […] Read more
Funds holding record-large net long position in canola
MarketsFarm — Fund traders remain bullish in the canola market, growing their net long position to a new record in the latest Commitment of Traders report compiled by the U.S. Commodity Futures Trading Commission (CFTC). Managed money fund traders were holding a net long position in ICE Futures canola of 68,140 contracts as of Jan. […] Read more
ICE weekly outlook: Canola strength shows no signs of fading
MarketsFarm — ICE Futures canola contracts started the new year on a firm footing, with little sign that the ongoing strength will end anytime soon. “Is canola expensive? Yes, but everything is expensive,” said analyst Mike Jubinville of MarketsFarm. While canola may look overpriced by some metrics, he noted the high prices were necessary to […] Read more
AAFC adjusts grain, oilseed balance sheets slightly
MarketsFarm –– Updated supply and demand tables from Agriculture and Agri-Food Canada (AAFC), released late Friday, included only minor adjustments to balance sheets for the country’s major crops. The department’s projected ending stocks for wheat and canola were left unchanged from the previous month. Factoring in the official estimates from Statistics Canada, released Dec. 3, […] Read more
Feed weekly outlook: Bids high, but limited supplies mean little moving
MarketsFarm — Feed grain prices in Western Canada remain at very high levels heading into the New Year, but little is actually trading as feedlots fill up with cheaper corn from the U.S. “The volume trading of Canadian feed grains has dropped significantly,” said Jim Beusekom, of Market Place Commodities at Lethbridge, noting about 80 […] Read more
CBOT weekly outlook: Soybeans, corn enter holiday mode
MarketsFarm — Soybean and corn futures at the Chicago Board of Trade are expected to hold relatively rangebound over the next few weeks, although year-end positioning and thinner holiday volumes could lead to some volatility. General unwinding of spreads and fund profit-taking were weighing on prices in mid-December, Sean Lusk of Walsh Trading in Chicago […] Read more
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