Canola futures at the Intercontinental Exchange (ICE) followed the lead of vegetable oils during the first trading week of August, posting sharp losses despite seeing a modest correction on Aug. 7.
Fields across Manitoba saw variable amounts of precipitation as crops continued to develop under hotter temperatures during the week ended July 28, according to the province’s weekly crop report.
Delivered prices for green peas across the Prairies ranged from C$12.50 to C$14.21 per bushel as of July 26, according to Prairie Ag Hotwire. The latter price was down C$4.27 from last month but only four cents lower than last year. For yellow peas, delivered prices ranged from C$9.75 to C$11.40/bu., down C$1.60 from last month and down C$1.40 from last year.
Major crops were rated at 55.3 per cent good to excellent, down from 72.9 per cent the previous week. The south region’s crops were rated 77.2 per cent good to excellent, while the northeast region was at 62.5 per cent and the Peace region was at 57.3 per cent. Conditions in the northwest region fell to 37.7 per cent and the central region dropped to 32.4 per cent, for declines of 40.1 and 29.8 points, respectively.
Despite temperatures exceeding 30 degrees Celsius on the Prairies and a weakened Canadian dollar, Western Canadian spring wheat prices were mixed and those for durum were lower during the week ended July 25.
Despite the majority of all three major United States crops being in good to excellent condition, hot weather and speculative fund buying have lifted prices at the Chicago Board of Trade (CBOT).
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