Bruce Burnett - Analysis

The Good: The good news today was in the canola market which saw nearby futures pushing through the 20-day moving average and closing at C$640.80 per tonne. The 20-day average stands at C$637.79 per tonne and marks the second time in the past three trading sessions that canola futures managed to close above the average. This […] Read more

The Good: The good news today was that spring wheat futures closed the day unchanged. This is the third consecutive day where spring wheat closed the trading session. The good news is that spring wheat appears to be finally forming a bottom. The U.S. spring wheat harvest is 94 per cent complete which is slightly ahead […] Read more

The Good: The November canola contract closed the day up by C$3.10 per tonne to C$649.10 per tonne. The gains today broke the two day losing streak. Technically, the canola chart remains weak and is still vulnerable to a further sell off to the C$630 per tonne support levels. The gains in canola came despite soybean […] Read more

The Good: There was little in the way of good news in the markets today, but spring wheat did manage to eke out a gain of one cent per bushel. The good news is that winter wheat markets closed down during the day. Kansas City futures were off by six to seven cents per bushel. […] Read more

The Good: The nearby soybean meal contract has gained nearly US$20 per short ton during the past three weeks. This is good news for the vegetable protein meal markets around the world. Soybean meal prices are beginning to rally as managed money funds are beginning to liquidate their record short position in the futures contract. […] Read more

The Good: U.S. wheat exports sales were strong at 722,800 tonnes which pushed the total crop year exports to 11 million tonnes which is the second fastest pace of export commitments in the past 10 years. The exports during the past week were also strong at 340,800 tonnes fore the week ending on August 7, […] Read more

The Good:  The canola market moved higher today with nearby futures up by C$9.60 per tonne to settle at C$659.80 per tonne. The gains in canola were supported by the second consecutive higher session in soybeans. November soybean futures were up by 12 cents per bushel and settled at 10.44 per bushel. Soybean oil futures […] Read more