WINNIPEG, (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were lower on Friday, remaining pressured by harvest progress and a spate of commercial canola deliveries. According to data from the Canadian Grain Commission, canola deliveries hit record-highs last week. Over 719,000 tonnes of canola were delivered across the Prairies. With blue skies in the forecast, […] Read more
Daily news
Canola futures drop as harvest progresses
Canola futures drop but within expected range
WINNIPEG, (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were lower on Thursday, remaining mostly range-bound and following trends set earlier in the week. Harvest progress has put pressure on canola prices, as regions of the Prairies that didn’t receive significant snow are almost finished harvesting canola. Manitoba’s canola harvest is 80 percent complete, along […] Read more
Early snow hurts North American edible bean prospects
Winnipeg (MarketsFarm) – An early snow storm hit key edible bean growing regions of Manitoba and the northern United States hard, with a large portion of the crop in the region now facing an uncertain future. “It is unprecedented what’s happened at this point,” said Tim Courneya, executive vice president of the Northarvest Bean Growers […] Read more
Corn, soybean prices have likely hit low point
WINNIPEG,(MarketsFarm) – Prices on the Chicago Board of Trade likely have hit their lows for the year, especially for corn and soybeans, according to Scott Capinegro of Barrington Commodities in Lake Barrington, Ill. “There’s a lot of cards finally in the bull’s hand instead of the bear’s hand,” Capinegro commented. He said this year’s harvest […] Read more
Trump’s hailing of $50 bln in Chinese farm purchases seen as ‘meaningless’
BEIJING, Oct 14 (Reuters) – China is still a long way from forking out $50 billion for farm goods from the United States, agriculture industry analysts said on Monday, cautioning that getting there is contingent on removing substantial technical and political hurdles. Outlining the first phase of a deal to end a trade war with China, U.S. […] Read more
Strong soy prices boost canola futures
WINNIPEG, (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were higher on Tuesday, supported by strong soy oil prices. Soy oil is trading at multi-month highs, boosted mainly by positive trade talks between the United States and China. Canola values are currently competitively priced compared to its vegetable oil counterparts, with strong crush margins a […] Read more
Wet fall raises risk of spring flood, but more factors at play
Winnipeg (MarketsFarm) – Manitoba’s Red River Valley is very wet heading into the winter freeze, but it’s still too early to say if the saturated soils will lead to flooding in the spring, according to provincial forecasters. The Manitoba government took the unprecedented step of opening the Red River Floodway on Oct. 9, marking the […] Read more
CWRS bids strengthen with U.S. futures, improved basis
Winnipeg (MarketsFarm) – Wheat bids in Western Canada were mixed during the week ended Oct. 10, with gains in some classes and losses in others as the domestic market reacted to adverse harvest weather and mixed activity in the United States futures. Average CWRS (13.5 percent) wheat prices were up by C$4 to C$5 per […] Read more
Western Canadian feed grain market finding a bottom
Winnipeg (MarketsFarm) – The western Canadian feed grain market is showing signs of finding a bottom, as buyers wait to get a better handle on the quality of the grain still unharvested across the Prairies. Feed barley is currently trading at around C$200 per tonne in southern Alberta, while feed wheat bids are around C$210, […] Read more
Canola futures drop after release of USDA report
WINNIPEG, (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts dropped on Thursday, likely due to short covering. Bids remained steady until about an hour after the release of the United States Department of Agriculture’s October supply and demand report. With the report, Chicago soybeans finished steady to lower, with a small increase for soyoil and […] Read more
