Markets
The ICE Futures canola platform were weaker at market close following soybeans. However, the weaker Canadian dollar limited losses for the market. Chicago Board of Trade (CBOT) soybean, oil and meal contracts were weaker also. Seasonal harvest pressure weighed on the market. It is expected farmer deliveries should slow down soon, however there is concern […] Read more
Markets
Weaker dollar limits canola, soybean losses
Some optimism for peas, lentils not invited for the ride
Lentil growers hoping to see a light at the end of the current tunnel of low prices and restricted markets will likely be disappointed for some time. However, farmers with peas might see better market conditions over the course of the shipping year because of the United States-China trade war. “For our purposes, when we […] Read more
Canola, soybean markets drop slightly
The ICE Futures canola platform were weaker at market close, following the lead of soybean contracts. The market was mostly sideways in trade today, holding range bound. Chicago Board of Trade (CBOT) soybean and oil contracts were down, while meal contracts were mixed. Last week saw heavy farmer selling, Canadian Grain Commission data released on […] Read more
Beans tug on canola as China lower feed protein
Canola was pulled lower by beans. Chicago Board of Trade soybean and oil contracts were down, while meal contracts were mixed. Last week saw heavy farmer selling, Canadian Grain Commission data released on Friday showed 636,500 tonnes of canola deliveries to elevators. We could see more selling this week as farmers look for cash for […] Read more
China’s new animal feed standards set to lower soybean consumption
BEIJING, Oct 28 (Reuters) – New standards of protein content in animal feed that China announced on Friday will cut the country’s annual soymeal consumption by 11 million tonnes and soybeans by 14 million tonnes, according to a statement from the agricultural ministry seen on Sunday. China is entering what is typically its top buying […] Read more
U.S. agriculture chief says no plan to extend farm aid to offset tariffs
WASHINGTON, Oct 29 (Reuters) – The U.S. Department of Agriculture is not planning to extend an up to $12 billion aid package for farmers into 2019, Secretary Sonny Perdue said on Monday, to mitigate farmer losses due to the imposition of tariffs on American exports. “Farmers are very resilient and adept in making their planning […] Read more
Canola prices drop as farmers make progress on harvest
Canola contracts on the ICE Futures exchange fell to their lowest levels of the past year during the week ended Oct. 26, as harvest operations across Western Canada finally neared completion. Farmers in both Alberta and Saskatchewan reported good progress during the week, helping ease concerns over unharvested acres being left out over the winter. […] Read more
Manitoba cattle market better than rest of Prairies
While cattle prices are starting to soften across most of Western Canada, Manitoba is finding itself as the exception. “In Manitoba things aren’t looking too bad. They’ve got some options there, their price has almost been a premium, or some of the strongest in Western Canada,” said Brian Perillat, manager and senior analyst at Canfax. […] Read more
Drought to cut east Australia crop output in half from 20-year average
MELBOURNE – Drought is expected to cut eastern Australia’s crop production this year to less than half the average over the past 20 years, with New South Wales to be worst hit, the country’s agricultural commodities forecaster said on Friday. While some regions are facing the worst conditions in memory, the Australian Bureau of Agricultural […] Read more
Canola funds maintain net long position
Speculators grew their net long positions in the ICE canola market slightly during the week ended Oct. 23, while commercial traders built their positions on the short side, according to the latest Commitment of Traders(CoT) report compiled by the United States Commodity Futures Trading Commission (CFTC). Managed money and other reportable speculators moved to a […] Read more
