Canada Markets

New-crop canola trade is testing retracement resistance on the continuous November chart while a break-out could open the door to a continued move higher.

The nearby March hard red spring wheat contract dipped below trendline support this session although recovered in late-session trade. Technical signals give reasons for concern.

Here is a look at the USDA's month-over-month changes in their global rapeseed/canola forecast.

Here is a look at Statistics Canada trade data for select crops and products and how the pace of movement compares to current forecasts.

Canada's total grain stocks fell in the year-ending Dec. 31, with drops seen in the countries largest crops of wheat and canola. The current pace of demand is a reminder of the need to ration canola demand over the balance of the crop year.

Prairie feed wheat prices are trading well-above average levels with feed wheat prices in Saskatchewan moving relatively close to the bids for higher quality wheat, according to government price data.

We look at the largest increase and decrease in year-over-year Dec.31 stocks for select crops. The forecast drop in canola stocks could be the largest ever.

The new-crop December 2021/March 2022 spring wheat future spread is showing a bullish inverse, which is not normal for this time of year. An upside breakout from its triangle chart pattern would signal the potential for a continued move to more than $7.00.

A look at pdqinfo.ca price data, as of Jan. 29, shows deferred canola bids moving higher through May, then backing off lower.

Canada's barley exports are well-ahead of recent years while China continues to show insatiable demand for grains.

May canola settled lower for the first time this week on Jan. 28, while several technical signs on the daily chart bears watching.

We look at Saskatchewan Agriculture's crop return data and how this relates to AAFC's first forecast for 2021 seeded acres.

We look at the major revisions made to demand estimates of select crops for 2020-21 in AAFC's January report, while also looking at how the January ending stocks estimates released during the past five years for the following crop year compares to the actual carryout.

Prairie durum bids continue to quietly push higher, while the International Grains Council views Canada as the only major exporter to see durum stocks grow higher in 2020-21. AAFC has ratcheted their forecast for crop-year exports higher to a record level.

Here we look at this week's losses across the grains and products and what this move signals.

New-crop canola moved sharply higher on Jan. 21 trade, leading old-crop prices higher.

The spring wheat forward curve takes a turn from December 2021 forward, signaling a change of sentiment next crop year.

We look at primary elevator grain stocks and cumulative shipments as of week 23, as well as how these volumes relate to the five-year average for this period.

India's overall Rabi crop planting pace is well-ahead of last year and several crops will see record acreage planted. Northern and eastern areas of the country report a lack rain since Jan. 1.

Canada's wheat exports continue strong, while export forecasts for Canada were revised higher by the USDA this week. Even the average pace of movement achieved during the past five years could see us reach and even exceed this forecast.