Canada Markets

Australia is in the news selling durum to Italy early in the new year, while providing a challenge for Canada's exports.

Producer deliveries of grain into the licensed handling system over the first six weeks of 2020-21 are seen at a record pace.

Over the past seven years, the continuous active canola chart shows that canola prices have not spent much time in the $530 per metric ton to $540/mt range, the next challenge for this market.

December spring wheat futures closed higher for the first time in nine days on Wednesday. Spring wheat futures are viewed as historically inexpensive, while nearing a period of its seasonal low. Chart support levels may also be playing a role.

As of week five, the largest grain shippers on the prairies have ordered 42,909 hopper cars for loading, up 33.9% from last crop year, while the railways have spotted 94% of the cars wanted.

The USDA revised its forecast for China's wheat imports for 2020-21 to 7 million metric tons, which would be the highest volume of imports since 1995-96. China has been Canada's top wheat destination in three of the past four months, as of Statistics Canada July data.

Saskatchewan Agriculture released provincial yield estimates as of Sept. 7 which we compare to Statistics Canada's model-based estimates based on July data. Today's estimates may have significant implications for the canola and durum crops.

Despite concerns surrounding the canola crop's potential, basis has shown recent weakness and is much weaker than seen a year ago.

The November canola futures reached a fresh contract high on Tuesday and more than a two-year high on the continuous active chart. Market signals downplay concerns of the Sept. 8 historic frost event across the central Prairies.

Statistics Canada released its final Field Crop Report for 2019-20 on Sept. 4, grains stocks as of July 31. We look at this data, what it signals in terms of recent demand and how it contributes to supplies for the crop year ahead.

Statistics Canada's July merchandise trade data represents the last month for all Canadian grain exports for the 2019-20 crop year, except for corn and soybeans. Each month we look at statistics for miscellaneous crops and products.

The November canola contract trade has led to mixed results in the month of September over the past 10 years, although this week's move has breached the important $500/mt level which has acted as support in the past two sessions. The on-balance volume momentum indicator is...

While Statistics Canada reported a big Canadian durum crop is on the way, close to 2 million metric tons higher than 2019, pdqinfo.ca followed by reporting the first price increase in five days. Weekly European Union data shows Canadian durum being imported at a favorable...

Statistics Canada released model-based July production estimates on Aug. 31, the first of two key reports for release this week.

Agriculture and Agri-Food Canada updated its 2020 production estimates just days ahead of Statistics Canada's official estimates.

December spring wheat broke trendline resistance on Aug. 25, with noncommercial short-covering pushing prices higher. Early harvest on both sides of the border is producing some disappointing results, while Canada's unofficial government estimates point to the potential for a...

Statistics Canada released their livestock estimates as of July 1. This data provides a look at the effects of COVID-19 on the beef and pork industry as the long-term trend of a declining cow herd continues.

There has been market pressure on high protein spring wheat, with elevator bids reported to fall below local feed prices in some areas of the Prairies. These prices are now seen diverging, with pressure seen on feed markets while spring wheat may have found some legs.

After testing solid support in the previous week, November canola has closed higher in three of the past four sessions, while holding near the middle of its four-week range.

Licensed exports of wheat, durum, canola, oats and barley for the first week of Canada's crop year are above 2019-20 and the five-year average. Commercial stocks of these crops are also above average for the majority of these crops.