Winnipeg – Updated supply/demand estimates from the United States Department of Agriculture came largely in line with expectations, with larger U.S. and world corn and wheat stocks and slight downward revisions to the soybean carryout numbers. Expected U.S. corn ending stocks for the current marketing year were raised by 200 million bushels, to 2.035 billion […] Read more
Stories by MarketsFarm
Except for southern Manitoba, flood concerns ease across Prairies
WINNIPEG – A slower-than-normal spring melt has helped to alleviate most flood concerns across the Prairies, except in southern Manitoba. That part of Manitoba, especially the Red River Valley south of Winnipeg, isn’t out of the woods just yet. Flooding may still reach levels on par with high water levels reached in 2009, according to […] Read more
Rising diesel prices are coming
WINNIPEG, April 2 (MarketsFarm) – Higher diesel prices are on the horizon for Canada and the United States in 2019. GasBuddy.com Senior Petroleum Analyst Dan McTeague pointed to an increase in overall demand, combined with a slowdown in heavy oil production, the federal carbon tax, and the coming IMO 2020 regulations. The latter being the […] Read more
Spring weather, flooding are CBOT’s main focus
WINNIPEG – This spring’s weather and flooding in the United States has become the main focus for the Chicago Board of Trade (CBOT), said an analyst. “What kind of planting conditions, how much rain, how much flooding, and how cold things are,” listed Steve Georgy, the president of Allendale Inc. in McHenry, Ill. The markets […] Read more
Weekly Outlook: ICE canola bearish with or without China
Winnipeg – ICE Futures canola contracts saw a modest correction off of major support over the week ended April 3, but the longer-term trend remains pointed lower with large old crop supplies and uncertain export prospects overhanging the market. Canadian canola exports to China are effectively non-existent right now, with the absence of that major […] Read more
Prairie CWRS bids drop with Minneapolis futures
Winnipeg – Western Canadian wheat bids posted losses across much of the region during the week ended March 29, with weakness in the Minneapolis futures and gains in the Canadian dollar behind the price activity. Average Canadian Western Red Spring (13.5 percent CWRS) wheat prices were steady to down by nearly C$10 per tonne, according […] Read more
Canola issues with China already well known
WINNIPEG – To some following the commodities markets, it was clear that some participants overreacted to the news of China banning Viterra from selling canola to the country. Bruce Burnett of MarketsFarm is one of those who saw that Canadian exports of canola to China have been pretty much dried up since January. That came […] Read more
Canola, soybeans drop
Commodity prices were hit hard today as soybeans retreated to near one week-old lows. Canola felt the soybean decline as well as pressure from Chinese trade issues nationally. May canola fell $5, reaching $451.70, July canola was down $5.60 to$459.60, November canola felt the pain following $6.20 to $471.60. March canola for 2020 did a […] Read more
Canola finishes up; wheat stronger
WINNIPEG – Canola finished the day higher, despite soft news details on where the Chinese market is on oilseeds, including Canadian ones. March canola fished the day on ICE at $457.30, up $3.40 per tonne, followed by July up $3.10 to $465.60 and November up $3.80 to $478.60. March 2020 marched in, up $6.70 on […] Read more
Monthly Canadian canola crush well below average
Winnipeg (MarketsFarm) – Canada’s monthly canola crush hit its lowest level in one-and-a-half years in February, according to the latest crushing data from Statistics Canada. The agency reported that 635,526 tonnes of canola were crushed in February 2019. That was down by nearly 200,000 tonnes from the January level and compares with the monthly average […] Read more
