Winnipeg – ICE Futures canola contracts saw some wide price swings on Thursday before settling within a dollar of either side of unchanged. Weakness in the Canadian dollar was a major supportive influence, as the currency fell by another half of a cent relative to its United States counterpart and crush margins widened. A lack […] Read more
Daily news
Weaker dollar, cold weather, holds canola
Little to change prices for feed grains in Western Canada
WINNIPEG – As feedlots reduce their cattle numbers, the demand for feed grains has declined on the Canadian Prairies, said Market Place Commodities trader Allen Pirness from Lethbridge, Alta. “It’s a pretty calm time of year. The feedlots are shipping a lot of fat cattle more than they are replacing. Their grain consumption drops off […] Read more
Canola stronger, but wheat drops
Winnipeg – ICE Futures canola contracts were stronger on Wednesday, as improving crush margins and chart-based speculative buying provided support. Chicago Board of Trade soyoil futures were up sharply on the day, while the Canadian dollar fell below 76 U.S. cents. Crush margins were supported as a result, which underpinned the canola market. However, the […] Read more
Large supplies weaken canola contracts
Winnipeg – ICE Futures canola contracts were weaker on Tuesday, taking back most of Monday’s gains as confirmation of large supplies weighed on values. Statistics Canada reported record high canola stocks in the country as of Dec. 31, at 14.5 million tonnes. The burdensome stocks were generally in line with market expectations given the slow […] Read more
Canola holds stronger with soy support
Winnipeg – ICE Futures canola contracts were stronger on Monday, as gains in Chicago Board of Trade soyoil provided some support. Weakness in the Canadian dollar, solid demand from domestic crushers and supportive chart signals also underpinned the futures. However, ample supplies in the commercial pipeline kept a lid on the upside, according to participants. […] Read more
Canola ends week on uptick
Winnipeg — ICE Futures canola contracts settled with small gains on Friday, as end-of-the-week positioning helped the market move higher for the first time in five days. Optimism over improving trade relations between the United States and China gave the soybean market in Chicago a boost on Friday, with some of that buying interest spilling […] Read more
Oils, wheat weaker, awaiting trade news
Winnipeg – ICE Futures canola contracts were weaker on Thursday, after trading to both sides of unchanged in choppy activity. Canola posted gains in early activity, but that early speculative buying interest ran into chart resistance when the March contract touched the 50-day moving average, according to a trader. Continued strength in the Canadian dollar, […] Read more
Prairie feed wheat, barley prices still looking good
WINNIPEG – The prices for feed wheat and barley in Western Canada are doing pretty good, according to Nelson Neumann of Agfinity in Edmonton, Alta. Feed wheat is up to $6 per bushel in the Edmonton area and about C$250 per tonne in the Lethbridge area he said. Feed barley was still quite strong, although […] Read more
CN Rail profit beats on higher crude, grain shipments, raises dividend
(Reuters) – Canadian National Railway Co beat analysts’ estimates for quarterly profit on Tuesday, as it transported higher volumes of petroleum crude and Canadian grain. A lack of pipelines to the United States and oversupply have led Canadian energy producers to look for alternatives such as railroads to ship crude. As a result, Canada’s largest […] Read more
Drought, animal disease threaten South African farmers
JOHANNESBURG (Reuters) – South African grain and red meat farmers are bracing for hard times after dry weather conditions and an outbreak of the highly contagious foot and mouth disease suspended meat exports, officials said on recently. Maize prices have climbed amid concerns that dry conditions in the main part of South Africa’s maize belt […] Read more
