MarketsFarm — Lost demand due to the COVID-19 pandemic is keeping pressure on the Canadian chickpea market, despite disease issues causing problems for nearly a third of the country’s crop, according to an industry source. After disease caused problems for chickpeas in some areas of southern Saskatchewan in 2019, the radius of the problem area […] Read more
Pulse weekly outlook: Chickpea market under pressure
Current crop up against disease issues
July supply/demand report shows just minor revisions
Canola, wheat ending stocks down
MarketsFarm — Updated supply/demand estimates released Friday by Agriculture and Agri-Food Canada include only minor revisions from the previous report, taking into account revised acreage estimates Statistics Canada released at the end of June. Canola ending stocks for the current marketing year were lowered by 100,000 tonnes, to 2.5 million tonnes. Meanwhile, projected 2020-21 canola […] Read more
Funds covering short positions in canola
MarketsFarm — Fund traders continued to bail out of short positions in canola during the week ended July 14, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). The net managed money short position in ICE Futures canola came in July 14 at 23,113 (9,650 long/32,763 short), […] Read more
Prairie cash wheat: Bids mixed
MGEX, K.C. wheats down on week
MarketsFarm — Spring wheat bids in Western Canada were mixed during the week ended Thursday, as the Minneapolis futures bounced around within a 15-cent per bushel range. Average Canada Western Red Spring (CWRS, 13.5 per cent protein) wheat prices were down by $3 to up by $2 per tonne, according to price quotes from a […] Read more
CBOT weekly outlook: Weather the key for soybeans, corn
MarketsFarm — Soybean and corn futures at the Chicago Board of Trade fell off nearby highs over the past week, with shifting weather forecasts directing the flow of money in the markets. “Ninety per cent of our price influence in a supply-side driven market during the growing season will be weather,” said analyst Sean Lusk […] Read more
Pulse weekly outlook: Manitoba edible beans look good for now
Bean growers watching weather
MarketsFarm — Edible bean crops in Manitoba remain in generally good shape in mid-July, with early indications pointing to solid production on the year. “Overall, they look pretty good,” said Dennis Lange, provincial pulse specialist with Manitoba Agriculture, on the state of dry edible bean crops. The crops had struggled with wind damage early on […] Read more
Canola fund short position smallest in six months
Net long up sharply in CBOT soybeans
MarketsFarm — The managed money net short position in canola tightened to its smallest level in nearly six months in the commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). The net managed money short position in ICE Futures canola came in Tuesday at 29,869 (9,349 long/39,218 short), a decrease of […] Read more
ICE weekly outlook: Canola nears resistance
MarketsFarm — ICE Futures canola contracts hit their strongest levels in three months during the first week of July, but appear to be running into resistance from a chart standpoint. The November contract hit an intersession high of $482 per tonne on Wednesday, but settled below the $480 mark. “You can’t discount at least the […] Read more
Canola futures testing chart resistance
November canola briefly topped $480 Monday
MarketsFarm — Recent price activity in the ICE Futures canola market has been bullish from a technical standpoint, with the futures poised for a break higher if the rally can be sustained. After trading at a low of $468.10 per tonne in late June, the November canola contract rallied to briefly trade above the psychological […] Read more
Feed weekly outlook: Barley bids soften as sector stabilizes
MarketsFarm — Feed barley bids in Western Canada have softened over the past two weeks, as some normalcy returns to the feeding sector. Feed barley bids delivered into the key Lethbridge feeding area have come down by $6-$8 per tonne over the past two weeks, with current prices around $240 per tonne, said Brandon Motz […] Read more
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