The December 2022 MGEX spring wheat contract led all spring wheat contracts higher on Dec. 22, while nearing a test of the contract high. The December 22/March 23 futures spread points to a bullish inverse.
AAFC s December supply and demand tables include Statistics Canada s final production estimates, which has led to the largest revisions for both production and exports for wheat and durum.
The Nov. 2 session saw the November 2022 canola contract take out its Oct. 8 contract high to reach a fresh contract high of $755.50/mt. Daily volume was the highest seen over the life of the contract.
The latest week 12 data shows the weekly exports of barley the highest seen so far this crop year, while cumulative exports are ahead of the fast pace of movement seen in 2020-21.