WINNIPEG – Statistics Canada’s acreage report provided something of a much needed bounce for canola bids. Canola hit a record low on April 23, with the May contract at C$437.80 per tonne and the July contract at C$446.10 per tonne. The primary reason for the huge drop was the price of soybeans on the Chicago […] Read more
Stories by MarketsFarm
Less canola, more wheat expected from Statistics Canada
Winnipeg – Canadian farmers will likely seed less canola and more spring wheat in 2019, but the extent of any acreage shifts remains to be seen as market participants await Statistics Canada’s first seeded area estimates of the year on April 24. Canola prices in Western Canada have dropped over the past few months, as […] Read more
WTO rules in favour of U.S. on tariff dispute with China
WINNIPEG – The World Trade Organization (WTO) has ruled largely in favour of the United States in a trade dispute regarding China’s application of tariff-rate quotas (TRQ’s) for wheat, corn and rice. The ruling, issued by the WTO’s Dispute Settlement Body (DSB), stated China did not apply the TRQ’s on imports of wheat, rice and […] Read more
ICE weekly outlook: Canola sideways, waiting for news
Winnipeg – ICE Futures canola contracts moved lower during the week ended April 17, but remain stuck in a sideways trading range overall waiting for some fresh market moving news. “April is usually the quietest month of the year for us,” said Ken Ball of PI Financial in Winnipeg. In addition to large world oilseed […] Read more
CBOT Weekly: Bear market aching for bull news
WINNIPEG – The Chicago Board of Trade (CBOT) is currently a bear-market, according to broker Scott Capinegro of Barrington Commodity Brokers in Barrington, Ill. “It’s like the markets are saying ‘show me something, we’ll take anything,’ but the bears are winning,” said Capinegro, noting there has been almost no news to drive the market in […] Read more
Views differ on exports to China other than canola
WINNIPEG – Depending on whom one has spoken with, there are differing views as to grain exports to China other than canola. The federal government stated there have been no export issues outside of canola. “The current actions taken by China are limited to canola seed, and we have not received any indication of broader […] Read more
Near normal monsoon expected in India: Meteorological Department
Winnipeg, (MarketsFarm) – Monsoon rains in India are expected to be near normal in 2019, according to the first long range forecast of the year from the India Meteorological Department (IMD). The southwest monsoon typically runs from June through September. It provides crucial moisture for the country’s agriculture sector, as it accounts for roughly 70 […] Read more
Prairie CWRS bids firm while other classes edge lower
Winnipeg – Western Canadian wheat bids were mixed during the week ended April 12, reacting to activity in United States futures and a firmer Canadian dollar, with gains in hard red spring wheat and losses in Prairie spring wheat. Average Canadian Western Red Spring (13.5 percent CWRS) wheat prices were up by C$1 to C$5 […] Read more
Feed barley bids soften as attention turns to new crop
Winnipeg – Feed barley bids in the key cattle feeding area of southern Alberta are coming under some pressure, as attention begins to turn to the new crop. “Demand is dropping off here a little bit,” said Allen Pirness of Market Place Commodities in Lethbridge, Alta. He said feedlots have extended coverage through the spring […] Read more
USDA lowers Canadian canola export forecast
Winnipeg – The slowing pace of Canadian canola exports, linked to the country’s trade dispute with China, saw the United States Department of Agriculture lower its forecast for Canadian canola exports in the current 2018/19 marketing year. In its latest Oilseeds: World Markets and Trade report, the USDA’s Foreign Agricultural Service said actual Canadian exports […] Read more
