Canada Markets

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.

This study looks at the CGC's reported exports for week 8, while crop year exports are projected forward based on the historical pace of movement.

Weekly Saskatchewan government data highlights the deteriorating soil moisture data.

European milling wheat is seen breaking above technical resistance that could lead to increased buying interest.

A reported 632,962 mt of canola was crushed in the month of August, while we look at implications for the balance of the crop year due to a recent change to AAFC's forecast crush.

AAFC's September forecast shows a huge year-over-year increase in wheat stocks, while canola is one of the few crops forecast to see stocks fall in 2022-23, based on Statistics Canada's most recent production estimates.

The November delivery canola basis has shown strength during the first 20 days of September and during harvest.

Canada's Consumer Price Index fell to a level that was slightly below expectations in August, although the gains from lower gasoline prices were moderated by a continued increase in food inflation.

AG Transport Coalition's Weekly Performance Update for week six shows the weekly demand sharply higher from the previous week while the percentage of cars spotted in the week wanted was reported sharply lower.