ProMarket Wire
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Sample Issue
Friday, March 04, 2015 [Printable pdf version]
ProMarket Wire provides cash market opinion assisting agri-business  (403) 275-5555  Rebroadcast is prohibited
Late Day Financials:  Toronto TSX 13,219 +95   Dow Jones 16,956 +12   U.S. $ 97.36 -.23 Energies and Metals:  Euro Jun 109.92 stdy    Crude Oil Apr 35.86 +1.30   Gold Apr 1263.30 +5.10 Cash Market Snapshot:  Spot Cdn $ 75.06 up.45   Jun $ 75.04 up.43   Sep $ 75.07 up.43 Firm   Red   Lentil   Bids:   Buyers   of   old   crop   red   lentils   appear   willing   to   pay   up   1   to   2   cents/lb   to   secure supplies   for   immediate   movement.   #1   red   bids   have   been   heard   as   high   as   46   cents/lb   delivered   this   week. These   improved   bids   are   clean-up   bids   to   fill   remaining   sales.   But   once   these   sales   are   covered,   bids   may begin   to   fall   back.   ONCE   LATE   WINTER   OLD   CROP   LENTIL   SALES   ARE   COVERED,   BIDS   MAY   BEGIN TO FALL BACK. Growers   note   .   .   .   India’s   harvest   is   now   underway   and   it   may   be   just   a   matter   of   time   for   demand   for   Cdn pulse   supplies   cool   off.   INDIA’S   DEMAND   FOR   CDN   PULSE   SUPPLIES   MAY   BEGIN TO   COOL   OFF   SOON IE: LENTILS / EDIBLE PEAS. Old   crop   green   lentil   bids   remain   very   strong,   but   new   crop   green   bids   now   appear   hard   to   come   by.   NEW CROP GREEN LENTIL BIDS ARE NOW HARD TO COME BY. Growers   note:   Given   slowing   demand,   new   crop   red   and   green   lentil   bids   may   gradually   decline   into   early spring. Rising   Cdn   Hog   Inventory:   According   to   Stats   Can,   Canada’s   hog   numbers   are   now   the   highest   in   eight (8)   years.   Canada’s   hog   population   is   now   pegged   at   13.25   million   hogs,   up   about   1%   year   over   year. Canada   exported   5.8   million   hogs   in   2015,   up   more   than   15%   from   2014.   Currently,   western   Cdn   hog   bids remain firmly bid ranging $1.62 to $1.68/kg (73 ½ - 76 cents/lb). Dressed   Cattle   Bids   Slip:    Thanks   to   the   strengthening   Cdn   dollar,   Cdn   dressed   cattle   bids   lost   4   to   5 cents/lb   this   week.   Next   week   .   .   .   U.S.   cash   cattle   prices   remain   firmly   supported,   but   it   will   take   a   drop   in the   Cdn   dollar   to   support   prices   here.   CDN   DOLLAR   MUST   FALL   BACK   FOR   CND   FED   CATTLE   PRICES TO RECOVER INTO EARLY SPRING. Texas,   Kansas,   Nebraska   cash   bids   should   remain   firmly   bid   between   $134   to   $138/cwt   heading   into   last half of March. Whoa   Cdn   Dollar:    The   June   Cdn   dollar   has   now   broke   above   key   chart   resistance   seen   at   74.60   cents U.S.   Today,   our   loonie   surged   above   75   cents   U.S.   Next   resistance   on   the   June   chart   is   now   seen   at   75.80 cents   U.S.   Strong   gains   across   the   precious   metal   complex      plus   a   gradual   improvement   in   crude   oil continues   to   push   our   dollar   higher.   NEXT   HEAVY   RESISTANCE   FOR   THE   JUNE   CDN   DOLLAR   IS   NOW SEEN AT 75.80 CENTS U.S. Errol
Cdn Dollar Rumbles Higher... Rising Cdn Hog Inventory... Old Crop Lentil Bids Firm ...          It   was   a   ‘green’   day   on   the   markets   today   .   .   .   A   string   of   positive   U.S.   data   released   through   the   week powered   the   Dow   Jones   above   17,000   points.   Supportive   U.S.   jobs   data   with   American   unemployment holding   at   4.9%   plus   an   improvement   in   4th   quarter   GDP   had   investors   scurrying   toward   U.S.   equities. Great   news   for   the   U.S.   this   week.   The   only   disappointment   was   the   decline   in   average   hourly earnings ”   stated   a   New   York   trader.   And   climbing   stock   markets   also   supported   the   cattle   board   and   beef prices    in-general.   April    live    cattle    surged    to    a    high    of    $136.775/cwt    mid-day.    But    despite    signs    of    a strengthening   U.S.   economy,   gold   and   silver   prices   continue   to   flare   up. April   gold   roared   above   $1,280   per oz.   The   rally   in   gold   this   week   suggests   international   investors   are   not   convinced   all   is   well commented   a   Vancouver   broker.   May   silver   smoked   higher   hitting   a   high   of   $15.84   per   oz.   And   the   Cdn dollar   bull   continues   to   snort.   Our   spot   loonie   broke   above   75   cents   U.S   .   .   .   Canola   fired   higher   early,   but faltered   late   day.   May   canola   ramped   above   $457/MT   before   breaking   below   $447/MT   late   day.   The   strong Cdn   dollar   tripped   up   canola   gains   today ”   commented   a   Winnipeg   trader.   U.S.   wheat   futures   firmed   early on   follow-through   fund   shortcovering.   And   this   strength   percolated   into   soybeans   and   corn   as   well.   Grain traders   were   certainly   watching   wheat   for   price   direction.   Seasonally,   wheat   prices   often   firm   up   this time   of   year ”   stated   a   CME   trader.   Next   Wednesday   is   USDA   report   day.   Traders   may   just   square   up positions ahead of this report ”.