Canada Markets

Week 15-grain handing statistics are compared to both the previous crop year as well as the previous four-year average. Producers continue to aggressively deliver grain while Prairie elevators are actively shipping.

The 50% tariff introduced by India on the import of feed peas is just one of several initiatives introduced to address what is viewed as an internal crisis affecting many commodities in India.

The Canadian dollar's move against the U.S. dollar stalled on Friday and has fallen in four consecutive session. Investors have reduced their bullish net-long position in the loonie for four consecutive weeks and could continue to do so.

The most recent CFTC data shows investors continuing to add to their bullish net-long position in oat futures, while holding the largest bullish position seen since October 2014. This may add risk to this market should this group suddenly face a change in sentiment.

Cumulative exports of durum are ahead of this time last year, but behind the pace needed to reach current crop year projections from AAFC. The export price has ground lower, while the spreads given the posted bids provide little incentive to store durum.

It was a nail-biter for the Canadian ag industry as the government attempts to nail down a Trans-Pacific Partnership deal this week. Dry pea bids on the Prairies have corrected lower, given import tariffs imposed by India.

There are some negative chart signals on the January canola chart following Thursday's USDA report, as speculative traders took profits. The USDA's rapeseed/canola data remains bullish, while there has been some aggressive moves made by buyers in forward delivery months.

India surprised the global pulse trade by announcing a 50% tariff on dry pea exports, while further news is pending on a potential tariff for lentil imports.

While Statistics Canada's November production estimates are due for release on Dec. 6, the agency reserves the right to make revisions up to two years later. Some crops show a high tendency for such revisions, while also tend to grow in size.

Spring wheat futures for December delivery broke out higher from a range traded over the past five weeks on Monday, with supportive buying likely seen from both commercial and noncommercial traders. Spring wheat is seen strengthening relative to hard red winter, a sign of...

Historical data, as of week 13, is used to create 2017/18 projections for selected grains in order to compare against current government forecasts. Exports for some of the largest crops such as wheat, durum and canola are close to current AAFC export estimates, while...

Rapeseed and canola reached a similar July high and a similar September low, while both have broken resistance this week.