Canada Markets

With wheat futures showing signs of hesitation in recent trade, we look at both spot Ontario SRW cash prices and new-crop bids and compare to the 10-year average spot price. Both signal opportunities.

The Nov. 2 session saw the November 2022 canola contract take out its Oct. 8 contract high to reach a fresh contract high of $755.50/mt. Daily volume was the highest seen over the life of the contract.

January canola continues to hit fresh highs, while Monday's reports also point to strengthening basis.

The latest week 12 data shows the weekly exports of barley the highest seen so far this crop year, while cumulative exports are ahead of the fast pace of movement seen in 2020-21.

This study looks at the Canadian Grain Commissions September export statistics to see how volumes have changed year over year when looking at exports to Canada's largest shipping destinations.

Canada's grain stocks in store western terminals as of week 11 of the week ending Oct. 17 are reported at levels higher than the same week in 2020-21 while 11% higher than the three-year average.

Given the size of the 2021 canola crop, September crush was high and above average for the month. Statistics Canada's oil content may ring alarm bells.

December spring wheat came within 4 cents of testing its July 2012 high. We look at potential levels of chart resistance and upside price targets for this crop based on technical analysis theory.

There were few changes made in AAFC's October supply and demand report, although wheat exports were revised 500,000 mt higher to 13 mmt, with stocks forecast to be the lowest on record in 2021-22.

Statistics Canada reported September inflation at the highest level in 18 years, with food prices playing a major role.

Despite the bullish fundamental outlook for canola, the crop's forward curve has flattened over time, signaling a less-bullish view of fundamentals.

The spot Canadian dollar has breached a number of chart resistance levels during the past eight sessions, although the move has stalled at the 61.8% retracement of the most recent downtrend.

Paris milling wheat for December delivery reached a fresh contract high Friday, closing in on its 2011 high as export interest drives prices higher.

The October USDA WASDE report included downward revisions for production in major producing countries, while global ending stocks of barley are forecast to reach the lowest seen since 1983-84.

USDA estimates include a significantly higher abandonment rate for Canada's wheat crop, which could be a sign of what is to come in Canada's official estimates.

Global wheat data was bullish for wheat markets on Oct. 12, while six of the eight largest global exporters saw stocks revised lower this month.

This study looks at reported producer deliveries as of week 9 as a percentage of grain available for delivery, based on the latest Statistics Canada estimates.

With the Saskatchewan harvest estimated at 99% complete, the province's yield estimates are compared to Statistics Canada's most recent official estimates.

December spring wheat futures reached a fresh contract high on Oct 6, while both the commercial and noncommercial sides are showing bullish signals.

Statistics Canada updated their corn and soybean estimates for 2020-21 today with the release of August exports and Aug. 31 stocks estimates.