Bruce Burnett - Analysis

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

The Good: USDA confirmed the large corn crop with their initial surveyed estimate coming in at 188.8 bushels per acre. This is good news for U.S. farmers as the weather has been nearby ideal across the U.S. Corn Belt. Yields in Iowa are expected to hit a record of 222 bushels per acre, while Illinois yields […] Read more

The Good: The 2024-25 crop year exports hit record levels with a total of 50.75 million tonnes inspected for export by the CGC. This was good news for Canadian farmers during this past crop year. Total exports of the 15 major crops were 7.56 million tonnes higher than the 2023-24 crop year. The largest year on […] Read more