Canada Markets

February rapeseed has pushed through various levels of potential support this month but has found support above EUR 600/mt during the past three sessions and may signal an end to the move.

AAFC increased its forecast for Canada's wheat exports for a third consecutive month, while at 23.5 mmt, the Canadian government's forecast continues to remain behind the USDA's 26 mmt forecast.

This study looks at licensed deliveries of select crops during the first 15 weeks of 2022-23, comparing these volumes to recent years while calculating these volumes as a percentage of the grain available for delivery based on current estimates.

The continuation of the Black Sea Grain Initiative agreement was widely expected, but led to weakness in North American wheat trade while European milling wheat ended higher.

Technical signals indicate that the Canadian dollar's recent rally may have ended.

This study looks at the AG Transport Coalition data comparing demand for hopper cars for loading to the cars supplied, while by shipping corridor.

Noncommercial traders in canola are seen moving close to moving back to a bullish net-long position, while at a time when prices are near the highest levels in 20 weeks.

The USDA revised its global production forecast for canola/rapeseed to a record high this month while global ending stocks were revised lower. The global stocks/use ratio is forecast to diverge sharply from the ratio calculated for Canada.

Week 13 producer deliveries of canola were the lowest seen in seven weeks. Cumulative deliveries trail the previous year and the three-year average.

The AG Transport Coalition's Weekly Performance Update shows both CN and CP spotting 86% of the cars wanted for loading, a significant improvement for CP from previous weeks.

This study looks at cumulative producer deliveries of select crops into the licensed handling system which is compared to the same period in 2021-22 along with the year-over-year change in forecast demand.

The yellow pea bid reported for Saskatchewan is well above the five-year average while is nearing the seasonal high for the year.

The CGC's Export of Canadian Grain and Wheat Flour report shows cumulative exports of the major crops down 5% year-over-year.

The January canola contract closed at its highest level in more than three months on Nov. 1, while ending in the top 25% of the range traded during the past four months.

Large green lentils continue to show strength, pulling away from the seasonal trend normally seen this time of year.

Canada exported a sizeable volume in week 12, the fourth consecutive week of favorable movement. Cumulative unloads at terminal elevators remain low, along with reported commercial stocks, while there are rumors of favorable volumes sold to China.

In advance of Statistics Canada's updated production estimates to be released on Dec. 2, we look at the five-year average change in production from the September model-based estimate to the November producer survey results for select crops.

While there are supportive signals in the global wheat market, MGEX HRS for December delivery diverged from winter wheat on Oct. 26 to close lower for a fourth session.

Canada's canola crush was higher in September although cumulative crush is slightly below the three-year average and behind the pace needed to reach the government's 10 mmt crush target.

Feed barley bids reported for Saskatchewan and delivered to southern Alberta remain on the rise with prices moving towards 2021-22 highs early in the crop year.