Bruce Burnett - Analysis

The Good: Managed money funds sold a net of 14,713 contracts during the week ending on July 8. The funds position now stands at 123,506 contracts net long for canola. This remains the longest net canola position held by the funds for this week on record. The drop in the futures market raised concerns that […] Read more

The Good: Although it wasn’t the strongest day in the Minneapolis the good news is that the contract moved up for the second consecutive session. The September contract closed the day at US$6.32 per bushel which was up by less than one cent per bushel. The gains in spring wheat paled in comparison with the rise […] Read more

The Good: The spring wheat markets managed to stop the bleeding and closed up by 1.8 cents per bushel to settle at US$6.32 per bushel. The good news is that spring wheat finished the day higher despite losses in Chicago futures of 1 to 2 cents per bushel. Kansas City futures were also up by one […] Read more

The Good: The canola market recovered in today’s session with the nearby contract jumping by C$9.90 per tonne to settle at C$704.10 per tonne. The good news is that canola posted gains despite weak outside oilseed markets. Soybean futures dropped by five cents per bushel. Soybean oil futures posted small gains of 0.17 cents per pound. […] Read more

The Good:  Canadian wheat exports were strong in the week ending on June 30 with the total hitting 477,600 tonnes. This pushed crop year to date wheat exports to 20.44 million tonnes. Wheat exports were primarily from west coast terminals which accounted for 388,500 tonnes of the total. St Lawrence terminals shipped 74,000 of wheat […] Read more

The Good: Spring wheat futures posted gains for the second consecutive session. Spring wheat September futures jumped by 20.5 cents per bushel to settle at US$6.49 per bushel. Spring wheat markets led the winter wheat contracts with Kansas City and Chicago wheat contracts moving up by 11 and 15 cents per bushel, respectively. Corn futures […] Read more