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Canola

ICE Futures July 2020 canola with 20-, 50- and 100-day moving averages. (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Canola values steady after losses

Weaker loonie supportive for canola

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Reading Time: < 1 minute MarketsFarm — Canola prices started the week plagued by reports of the rapidly-spreading coronavirus in China, but managed to shake off some of that resistance. At midweek, nearby ICE Futures canola contracts were between $461 and $470, after falling by over $8 on Monday. Crush margins have maintained strength, which supported canola values. Crush margins […] Read more
(Photo courtesy Canola Council of Canada)
Canola, Crops, Markets

Canadian canola crush sets new monthly record

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Reading Time: < 1 minute MarketsFarm — Canadian oilseed crushers set a new monthly record for processing canola in December 2019, crushing 899,301 tonnes of the crop during the month, according to the latest data from Statistics Canada. The crush pace was up by 70,000 tonnes from November and compares with the previous record of 882,301 tonnes, set just two […] Read more
ICE Futures March 2020 canola with 20- and 50-day moving averages. (Barchart)
Canola, Crops, Markets

High stocks-to-use ratio weighs on canola

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Reading Time: < 1 minute MarketsFarm — The Canadian canola stocks-to-use ratio was over 20 per cent at the end of 2019 — significantly higher than the five-year average of 13.4 per cent. “That’s part of the reason why we’re seeing downward pressure on canola prices,” Craig Klemmer, chief agriculture economist for Farm Credit Canada (FCC), explained during his presentation […] Read more
(File photo by Dave Bedard)
Canola, Crops, Markets, Soybeans

Large funds back on short side in soybeans

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Reading Time: < 1 minute MarketsFarm — Large fund traders have moved back to the short side in soybeans while only making small adjustments in canola, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). The net managed money short position in ICE Futures canola came in Tuesday at 20,366 contracts on […] Read more
An artists’ rendition of the Merit Functional Foods plant under construction in Winnipeg. Merit also recently picked up support from research “supercluster” Protein Industries Canada to help further develop pea and canola proteins. (Meritfoods.com)
Canola, Crops, Peas, Reuters

Nestle to source plant proteins from Winnipeg

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Reading Time: 2 minutes Winnipeg/Zurich | Reuters — Food company Nestle SA said on Friday it has teamed up with small Canadian plant-based food ingredient makers Burcon and Merit Functional Foods, the second such supply agreement this month that targets Canadian crops. Meat substitutes from plants in burgers, nuggets and many other foods are a fast-growing industry, driving up […] Read more
ICE Futures March 2020 canola with 20-, 50- and 100-day moving averages. (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Don’t expect China to buy if Huawei exec goes free

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Reading Time: 2 minutes MarketsFarm — ICE Futures canola traders have been keeping a close eye on this week’s extradition hearings for Huawei executive Meng Wanzhou in Vancouver. The hearing is to determine whether Meng will be extradited to the U.S., which requested her arrest by Canadian authorities in December 2018. China, in the wake of that arrest, detained […] Read more
(Photo courtesy Canola Council of Canada)
Canola, Crops

CGC revises domestic canola usage downward

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Reading Time: < 1 minute MarketsFarm — Domestic canola demand remained well ahead of exports in the latest Canadian Grain Commission report for the week ended Sunday — but revisions to data now show the crush pace is not quite as active as reported earlier in the month. The original data for the week ended Jan. 5 showed domestic disappearance […] Read more
(Dave Bedard photo)
Canola, Crops, Markets

Funds shift to long side in soybeans, covering canola shorts

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Reading Time: < 1 minute MarketsFarm — Fund traders moved to a small net long position in soybeans and reduced their overall short position in canola during the second week of January, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). The net managed money short position in ICE Futures canola came […] Read more
Corteva Agriscience, which spun off from the merged Dow and DuPont in 2019, got its canola seed breeding lab and research station in Saskatoon from the Dow AgroSciences end of the merger. (Video screengrab from Corteva.ca)
Canola, Crops

Supercluster backing canola protein production

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Reading Time: 3 minutes The federally-backed research and development “supercluster” set up to boost Canada’s protein industries is funding work to wring more and better proteins out of canola seed. In Saskatoon on Wednesday, federal Industry Minister Navdeep Bains announced the Protein Industries Canada (PIC) supercluster has approved a new $27.6 million project to breed high-protein canola hybrids for […] Read more
ICE March 2020 canola with Bollinger (20,2) bands. (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Canola off highs, rangebound

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Reading Time: < 1 minute MarketsFarm — ICE Futures canola contracts tested long-time chart resistance during the week ended Wednesday, but failed to break higher and retreated to hold rangebound overall. The Phase One trade deal signed Wednesday between the U.S. and China failed to give the grain and oilseed markets a boost, as the vague details of the actual […] Read more

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