North American Grains and Oilseeds Review: Canola up as dollar down

By Ashley Robinson, Commodity News Service Canada
Winnipeg, Jan. 17 (CNS Canada) – The ICE Futures canola contacts finished the day stronger, finding support from a weaker Canadian dollar.
Chicago Board of Trade (CBOT) soybean, oil and meal contracts were all stronger. Soyoil contracts were up sharply, which was supportive for canola contracts.
There is still concern though about China/United States relations. While China has confirmed it will visit the U.S. for trade talks at the end of the month, the latest news about little progress having been made previously is pressuring the soy complex.

North American Grain and Oilseed Review: Canola clings to small upticks

By Glen Hallick, MarketsFarm Glacier Farm Media MarketsFarm – Intercontinental Exchange canola futures closed a pinch higher on Friday, after…

Little rain has fallen over the dry soybean areas in Brazil, which has been supportive for oilseed markets.
There is still concern about China and Canada relations affecting canola imports. Many traders have speculated that canola shipments have fallen in the crosshairs of the political tensions.
About 14,983 canola contracts traded, which compares with Wednesday when 14,894 contracts changed hands. Spreading accounted for 8,276 of the contracts traded.
CBOT soybean, oil and meal contracts all finished the day up. Values jumped sharply higher in the last hour of trading.

Brazil’s agriculture consultancy has reduced its soybean crop estimate to 117.2 million tonnes, down from their previous estimate of 122 million tonnes.
There are conflicting reports coming out of China in regards to the African swine fever outbreak. There are concerns China may need to cut back their soybean purchases because of the outbreak. But Chinese officials are suggesting their hog operators may soon begin replenishing their herds.
CBOT corn prices finished the day in the green,
South Korea bought another 60,000 tonnes corn. This is separate from the previous 65,000 tonnes they purchased.
Concerns are beginning to surface about possible yield loss in Brazil’s corn crop from the extended dry periods.
Chinese corn stocks are estimated to be around 70 to 80 million tonnes. Usual Chinese corn demand is usually around 220 million tonnes per year.
Wheat futures in the U.S. finished the day up.
There are reports that Russia has asked some grain shippers to slow their exports in the second half of the marketing year.
Japan purchased 120,000 tonnes of wheat in a regular tender.