Reading Time: < 1 minute Marketsfarm – Statistics Canada (StatCan) released its June oilseed crush and grain delivery statistics, showing a small decline for the former, but a large gain for the latter from the month before. Oilseed processors in Canada crushed 772,345 tonnes of canola last month, as well as 139,164 tonnes of soybeans for the month of June […] Read more
Oilseed crush down, grain deliveries rise in June: StatCan
Canadian grain deliveries reached a three-month high in June
ICE weekly outlook: canola market heading towards choppy waters
Markets will pause to see how the crops finish developing: analyst
Reading Time: 2 minutes Marketsfarm – While the recent gains in canola on the Intercontinental Exchange were likely generated by the spreaders, the market will probably become choppy, according to Ken Ball, trader with PI Financial in Winnipeg, Man. “Spreaders for the last few days have been selling canola and buying soyoil,” Ball suggested in a July 26 interview, […] Read more
Fund position flips to net long in canola
The last time the market was showing a net long position was the first week of January
Reading Time: < 1 minute MarketsFarm – The managed money position in canola flipped from a net short to a net long for the first time in six months during the week ended July 18, as fund traders covered short positions and put on new bullish bets, according to the latest Commitments of Traders report from the United States Commodity […] Read more
AAFC lowers Canadian wheat ending stocks estimates
Drop in estimated oats carryout another notable adjustment
Reading Time: < 1 minute MarketsFarm – Canadian wheat ending stocks for both the current marketing year and 2023/24 (Aug/Jul) were revised lower by Agriculture and Agri-Food Canada’s market analysis division in its updated supply/demand estimates, released July 21, with tighter oats and pulse stocks also expected. Wheat ending stocks for 2022/23 were lowered to 3.540 million tonnes by AAFC, […] Read more
ICE weekly outlook: C$900 per tonne in reach for canola
Black Sea deal's end, Russian attack on Odesa, pushing all prices up
Reading Time: 2 minutes MarketsFarm – Sporadic rainfall across the Prairies has not been enough to stop canola’s upward momentum during the week ended July 19, while a pair of other factors are fueling the oilseed’s rise. The November canola contract went from settling below the C$800 per tonne mark (C$797.50/tonne) on July 12 to exceeding the C$850 mark […] Read more
Net short position nearly gone in canola
Traders still net short in CBOT wheat, corn
Reading Time: < 1 minute MarketsFarm — Speculative traders continue to exit their bearish bets in canola, with the net short position dipping below 4,000 in the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As of July 11, the net managed money short position in canola futures came in at 3,899 contracts (34,124 short, […] Read more
ICE weekly outlook: Canola climbs on weather worries
Demand rationing also seen as supportive
Reading Time: < 1 minute MarketsFarm — The ICE Futures canola market moved steadily higher during the week ended Wednesday, hitting its strongest levels in more than four months as bullish chart signals and production uncertainty across the Prairies provided support. A bearish reaction in the Chicago soy complex to the latest supply/demand estimates (WASDE) from the U.S. Department of […] Read more
Fund short position hits six-month low in canola
CBOT soybeans show reduced net long
Reading Time: < 1 minute MarketsFarm — The speculative short position in ICE Futures canola fell to its smallest level in six months at the beginning of July, as fund traders covered short positions and put on some new longs. That’s according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As of July […] Read more
ICE weekly outlook: Canola makes huge move
Prairies' dry patches add to upswing
Reading Time: < 1 minute MarketsFarm — Canola came out of Canada Day continuing to build on gains made going into the holiday, largely due to spillover from the Chicago soy complex. The U.S. Department of Agriculture last Friday released its planted acres report, which saw soybeans lose four million acres from the 87.5 million planted in 2022, leading to […] Read more
Net short drops in canola as funds cover positions
Traders expand net longs in soy, corn
Reading Time: < 1 minute MarketsFarm — Speculative traders were busy covering short positions in ICE Futures canola during the week ended June 20, taking the net short position in the market to its smallest level in four months, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As of June 20, the […] Read more
A message from April Stewart, Country Guide's Associate Editor
