Canada Markets

Preliminary estimates point to March 31 stocks of Canadian durum reaching the lowest volume seen since 1989, or 35 years.

Barley exports took a big jump in February, which was noted in Statistics Canada's highlights for the month. The largest share was shipped to China.

This study looks at Statistics Canada's February trade data for miscellaneous crop and crop products.

This study looks at recent government seeded acre estimates for durum in the U.S. and Canada, incorporating the historical estimates of harvested acres and yields in order to estimate the 2024 production potential.

May soybean oil closed above its 100-day moving average on April 2 while nearing a test of March highs. CFTC data as of April 2 could show noncommercial traders holding a net long position for the first time in four months.

Shipper demand for cars for loading was the highest seen in 17 weeks according to AG Transport Coalition data, while railway performance is seen deteriorating over the most recent week.

This study looks at the 10-year average futures price change for select crops, old crop and new crop, on the day that the USDA released its Quarterly Stocks report and its Prospective Plantings report.

In advance of Thursday's USDA acreage estimates for 2024, we seen that pre-report estimates are pointing to a year-over-year change in corn and soybean acres that is opposite to the changes forecast by Statistics Canada in its first official estimates for the year.

December spring wheat futures have shown bearish price activity in recent trade.

Canada's canola crush in February fell to the lowest level in six months, although the overall pace of crush is ahead of the pace forecast by AAFC.

Canada's cumulative wheat exports through licensed facilities remain ahead of last year and ahead of AAFC's forecast pace.

AAFC is forecasting higher Canadian oat production for 2024 while the supply-demand balance for the crop will be closely watched.

AAFC's latest supply and demand estimates include the latest official seeded acre estimates from Statistics Canada. The forecast results in growing stocks overall along with lower prices.

The new-crop August rapeseed future traded above its 200-day moving average today, while closing just below it.

Recent CFTC data shows noncommercial traders paring their bearish net-short futures position for the first time in six weeks, while the net-short position realized its largest weekly drop on record.

There was ample bearish news released for global wheat markets this week in the way of contract cancellations, although U.S. May wheat futures remain above contract lows and European milling wheat has ended with two consecutive higher weekly closes.

The most recent USDA estimates included a lower revision for U.S. wheat exports, with recent sales cancellations indicating there may be more cuts to come. The long-term trend for U.S. wheat exports is lower, while the trend for Canada is higher.

The first official estimates for 2024 planting of principal field crops was released Monday morning. Statistics Canada's estimate for total area seeded to field crops is seen at 78.2 million acres, down from the record 78.4 million calculated for 2023.

The new-crop canola future is showing a slow but steady move higher, which may prove to be a rounded bottom reversal pattern that bears watching over time.

Today's move in the Canadian dollar against the United States dollar was the largest one-day move higher since mid-December, while the spot loonie has traded within a 100-basis point range over the past four weeks.