Canada Markets

Feed barley bids reported for Saskatchewan and delivered to southern Alberta remain on the rise with prices moving towards 2021-22 highs early in the crop year.

Durum exports reached the largest weekly volume seen in more than one year in week 11, while cumulative volumes trail the five-year average for this period. Producer deliveries and commercial stocks are above average, a favorable sign.

This study looks at Saskatchewan Agriculture's final topsoil moisture analysis of the season.

Canola closed higher for a second session, with its 100-day moving average in sight.

Soybean oil was the star performer on Oct. 18 and shows a strong uptrend when shown in Canadian dollars/mt.

HRS futures closed higher for the second time in five sessions on Oct. 17 but continue to show technical weakness.

Large wheat exports over recent weeks have boosted cumulative exports through licensed facilities ahead of the five-year average in week 10. Commercial stocks remain above average and may allow for this movement to continue.

The Canadian Drought Monitor shows the area of the prairie agriculture land facing some degree of deficit increasing for a third month while the highest percentage seen in six months.

The USDA's October WASDE report shows a significant rebound in Canada's wheat export potential for 2022-23, while U.S. exports are to fall below year-ago levels. Canada's exports are forecast to surpass the U.S. for only the third time in data going back to 1960-61.

The Canadian dollar posted a weekly gain in the week of Oct. 3, the first in four weeks, while it started the following week under pressure. The Canadian dollar has historically shown weakness in the months of January, October and November.

Statistics Canada posted final corn and soybean data for 2021-22 on Sept. 6, with corn data pointing to record imports and carry-out stocks.

Saskatchewan Agriculture made modest changes to yield estimates for some crops, while a significant spread remains between the province's estimates and the official Statistics Canada estimates for the largest crops.

Statistics Canada commentary points to a slow start to crop and product exports for 2022-23, while we look at August data for select exports over the month.

While the demand for rail shipping from the Prairies is seen rising rapidly, railways are struggling to meet the challenge.

We look at the net futures position of select commodities as well as the Canadian dollar for a feel of the moves made by speculators as seen in the most recent CFTC data.