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Canada Markets Blog
Cliff Jamieson Canadian Grains Analyst
Fri May 16, 2014 05:44 PM CDT

The new-crop December hard red spring contract faced its largest one-week move in the life of this contract this week, with a 55-cent move to the downside.

On May 6, the December contract made a sharp move higher only to fall 1 cent short of testing the contract's high of $8.30/bu. This failed attempt at the high resulted in sideways trade over the balance of last week, which ended with Friday's monthly USDA supply and demand report.

The May 9 report presented a first look at 2014/15 crop estimates, with current early estimates calling for an 890,000 metric tonne increase ...

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