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ICE March 2023 canola with 20-, 50- and 100-day moving averages. (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Canola trade’s focus on South America

Canola still entrenched in $800-$900 range

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MarketsFarm — ICE Futures canola contracts held relatively rangebound during the week ended Wednesday, looking for some direction to push values one way or the other. “We’re just watching South American weather now,” said Jaimie Wilton, commodities futures specialist with RJ O’Brien in Winnipeg, pointing to the drought in Argentina and the relatively favourable conditions […] Read more
(Medioimages/Photodisc/Getty Images)
Crops, Markets, Weather

CBOT weekly outlook: South America’s dry weather affecting soy complex

'We’re back to trading weather right now'

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MarketsFarm — The U.S. Department of Agriculture’s world agricultural supply and demand estimates (WASDE) report last week is taking a back seat to drought concerns in South America, according to a Chicago grains analyst. Terry Reilly from Futures International said Friday’s WASDE report had very little effect on the Chicago Board of Trade (CBOT), which […] Read more
CBOT March 2023 oats with 20- and 50-day moving averages. (Barchart)
Cereals, Crops, Markets

Feed weekly outlook: Wheat, barley eschewed for other grains

Oats, corn finding demand as feed

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MarketsFarm — Feed wheat and barley prices in Alberta’s feedlot alley are coming down, largely due to the increasing presence of corn imported from the U.S. The high-delivered bid for Alberta feed barley on Wednesday was $9.80 per bushel, 11 cents lower than the previous week and 22 cents lower than one month earlier, according […] Read more
ICE January 2023 canola with 20-, 50- and 100-day moving averages. (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Less canola to be exported

Crop expectations from Canada, Australia are factors

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MarketsFarm — Any hopes of Canada exporting 9.3 million tonnes of canola during 2022-23 have now been dashed for two reasons. One reason is the latest Statistics Canada production report that cut canola production for the current marketing year. The other is the bumper canola crop Australia is now expected to have this year. StatCan’s […] Read more
(Photo courtesy Canada Beef Inc.)
Finishers, Livestock, Markets

Klassen: Feeder cattle market experiences diverse price behaviour

Manitoba calves hold a premium over Sask., Alta.

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Compared to last week, western Canadian yearling markets traded steady to $2 higher while calf prices were unchanged to $4 lower. Yearling supplies are limited and there appeared to be a surge of buying interest for 850-lb. thin-fleshed replacements. Alberta fed cattle basis levels for the second quarter of 2023 have above average and the […] Read more
ICE January 2023 canola with 20-, 50- and 100-day moving averages. (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Canola still rangebound but upside possible

Crush margins expected to stay high for now

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MarketsFarm — The ICE Futures canola market traded within a certain range for the week ended Wednesday, but one trader believes that wide crush margins will take prices over the psychological resistance level. Since nearly hitting the $900 per tonne mark on Nov. 15, the January canola contract declined for eight straight sessions before going […] Read more

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