Canada Markets
Cliff Jamieson Canadian Grains Analyst
Tue Mar 3, 2015 04:52 PM CST

The spread between canola and wheat prices can be viewed as a predictor of acreage swings between Western Canada's two largest crops. The spread on the attached chart indicates November canola having gained on wheat since December 22 when the spread reached a low of $138.44/metric tonne (Canadian dollars, canola over HRS), while reaching a weekly close of $187.09/mt in last week's trade (canola gaining relative to wheat). The spread weakened today given a $2.20/mt drop in November canola with a 14 1/4-cent rally in the December HRS contract. In theory, this trend may pull acres from wheat in favor ...

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