Canada Markets

Futures losses in the nearby MGEX spring wheat contract have been offset by strengthening Canadian dollar basis, most evident in the eastern Prairies.

Canada's March canola exports to China were the highest volume shipped to this country in 15 months while China was the top destination for Canadian exports this month for the first time in 12 months.

Despite the time of year, week 37 data shows a significant volume of grain delivered by producers into licensed handling facilities while cumulative crop year deliveries remain at a record pace.

Canada's canola crush remained robust in March, with the volume processed close to the highest level seen this crop year, as well as on record.

Signs such as DTN's Spring Wheat Index, which is diverging from the crop's five-year seasonal trend, the growing net-short position held by noncommercial traders along with weakening futures spreads act as bearish signals as both old-crop and new-crop prices reach new...

AAFC increased its forecast for Canada's dry pea exports in its April supply and demand forecasts to 3.6 mmt, although the pace of movement achieved over the past two years would suggest even higher volumes shipped. Available stocks may prove a limiting factor.

AAFC has estimated Canada's 2020-21 ending stocks for durum at 900,000 metric tons, below 1 million metric tons for a second straight year. If realized, this would be the first time that back-to-back ending stocks estimates below the 1 mmt level has been seen since 1985-86.

December spring wheat has reached fresh contract lows this week, a market in need of bullish news. The net-long futures position held by commercial traders has waned over the past five weeks.

Global food chains are facing monumental challenges in delivering the supply of food required by consumers, while there is a wide range of opinions as to how this will play out moving forward. Price signals on both old-crop and new-crop lentils remain favorable.

April 20 trade saw the July contract close below the 67% retracement of the March rally, opening the doors for a continued slide to a possible test of contract lows. Prairie basis levels are also showing weakness.

Recent statistics shows canola moving at a pace that could lead to higher-than-forecast exports for the crop year. The reported roll from the May to the July contract shows a higher price for Vancouver cash trade.

The spread between hard red spring wheat and hard red winter wheat, both cash prices and future, has narrowed since September. A similar trend is seen in prairie CWRS and CPRS. While there may be a slow start to spring wheat planting in 2020, the market is showing no sense...

Old-crop and new-crop canola futures diverged from the rest of the grains on Wednesday, while the technical signals this session may be worth watching.

Week 35 CGC statistics shows primary elevator space continuing tight on the Prairies, while hopper cars continue to be cancelled by one of the two major railways.

Here we present ideas for March 31 stocks of canola, based on the CGC's weekly disappearance data. Unharvested crop remains the largest wildcard for this market.

This study looks at the 20-year compound annual growth rate for all-wheat harvested acres, yield and production in Canada and major producing provinces.

The Canadian dollar posted a sharp rise on April 7, falling short of testing chart resistance. Key global energy meetings this week could lead to volatility ahead.

Rapeseed in Europe continues to rally from its March low, while the U.S. dollar premium to canola strengthens, a supportive feature for canola.

Tightening global stocks, issues in global crop potential and panic consumer demand are colliding to boost durum prices on the Prairies.

As we do each month, we look at Canada's merchandise trade data for the month of February as it applies to selected crops and products.