Canada Markets

The Saskatchewan government estimates spring seeding is nearing an end, with an estimated 98% of crops seeded as of June 13. Timely rain has hit western areas of the province, while more has fallen since the report cut-off and even more in the forecast.

The September HRS contract has breached various levels of support this week, including a bearish breakout from a recent consolidation chart pattern. At the same time, other levels of support continue to hold or remain untested.

This week's spring wheat crop condition rating for U.S. spring wheat shows two states trailing their respective five-year average rating, but for far different reasons.

The USDA tweaked its global rapeseed/canola forecast this month, with its forecast including record production and consumption in 2022-23. This forecast hinges on a huge increase in Canada's output, while challenges exist on the Prairies.

Saskatchewan Agriculture's weekly topsoil moisture rating shows improving conditions on the east side although rain is in the forecast that will add to delays. Timely rain is also forecast for the western side of the province.

Wednesday's higher close resulted in a number of positive technical signals, although the new-crop futures spread is weaker than average for this date.

Statistics Canada released the Canadian international merchandise trade report for April. Here we look at April activity for trade in select crops and crop products.

The bullish noncommercial net-long futures position for the grains and products has waned in recent weeks.

Week 43 grain deliveries into licensed facilities turned higher, which is consistent with the move higher seen in the same period for 2020-21. We look at cumulative deliveries of select crops as a percentage of the farm supplies available for delivery, based on official Statistics...

The December MGEX contract has found support above its 50-day moving average and the 38.2% retracement of the move from the January low to May high.

Seeding of crops in Manitoba took a big jump to 40% complete as of May 31, while progress is less than 50% of the average pace. Heavy weekend rains will slow the return to the field, while Manitoba Agriculture charts point to a declining yield potential as seeding dates are...