Reading Time: < 1 minute The ICE Futures canola market backed away from nearby highs during the week ended Oct. 16, as losses in Chicago soybeans and soyoil weighed on values. With the canola harvest in its final stages across Western Canada, the market will likely settle in a sideways range while looking to outside influences for direction.
ICE canola weekly outlook: Weak soybeans a “problem”
Prairie spring wheat bids rise as loonie drops
Reading Time: 2 minutes Hard red spring wheat bids in Western Canada moved to their highest levels in three months during the week ended Oct. 10, as a firm tone in the United States futures and sharp weakness in the Canadian dollar provided support.
ICE canola weekly outlook: Rising market hits resistance
Reading Time: < 1 minute The ICE Futures canola market climbed to its highest levels in two months to start October, but ran into resistance and may now need an outside catalyst to continue the uptrend.
Late season storms wreak havoc on Prairie crops
Reading Time: < 1 minute Severe hailstorms wreaked havoc on crops across Western Canada, bringing an unexpected surge in claims, according to the latest update from the Canadian Crop Hail Association (CCHA).
ICE canola weekly outlook: Running into resistance
Reading Time: < 1 minute The ICE Futures canola market was still trending higher in the first trading days of October but showing signs of running into resistance.
Port workers to strike in Montreal
Reading Time: < 1 minute Workers at two Montreal port facilities are set to hold a three-day strike starting Sept. 30.
AAFC ups wheat, canola carryout forecasts
Reading Time: < 1 minute Canadian wheat ending stocks for the 2024-25 marketing year are forecast to be well above earlier expectations, says Agriculture and Agri-Food Canada.
Rising CBOT soybeans facing resistance
Reading Time: < 1 minute Optimism over increased Chinese demand along with weather concerns in Brazil gave the Chicago soybean market a boost and triggered some fund short covering over the past week, but the futures will likely face stiff resistance to the upside going forward.
Canola net short position grows
Reading Time: < 1 minute The net fund short position in canola grew in mid-September, as speculative selling took the futures to contract lows, according to the latest Commitments of Traders report from the United States Commodity Futures Trading Commission (CFTC).
Prairie spring wheat bids follow U.S. futures lower
Reading Time: 2 minutes Hard red spring wheat bids in Western Canada moved lower during the week ended Sept. 19, as losses in the United States futures and seasonal harvest pressure weighed on values.
A message from April Stewart, Country Guide's Associate Editor
