GFM Network News


(Dave Bedard photo)

Feds tighten forecast for wheat carryout

Reading Time: 2 minutes MarketsFarm — Canadian wheat carryout for the 2021-22 crop year will be even tighter than earlier forecasts, according to updated supply/demand estimates from Agriculture and Agri-Food Canada (AAFC), released Wednesday. The October report included only minor adjustments for most crops, with the most notable change from September being a 500,000-tonne reduction in projected wheat ending […] Read more

ICE November 2021 canola (candlesticks) with 20-day moving average (yellow line) and CBOT December 2021 soyoil (green line, left column). (Barchart)

ICE weekly outlook: Canola rally keeps going

Not yet back at $1K, but it's possible

Reading Time: < 1 minute MarketsFarm — With good gains from other edible oils, canola has remained on the rise so far during the week of Oct. 18. It’s uncertain as to how much longer the rally could press on, but analyst David Derwin of PI Financial in Winnipeg said canola punching through $1,000 per tonne again is possible. “Never […] Read more


(File photo by Dave Bedard)

ICE canola futures’ daily limit expanded to $60

Reading Time: < 1 minute MarketsFarm — The daily price limit (DPL) for canola futures contracts on the ICE Futures platform will rise to $60 per tonne starting Nov. 1, the exchange announced Tuesday. The DPL determines how much a contract can move in a given session above or below the previous settlement. The new level compares with the current […] Read more

ICE January 2022 canola (candlesticks) with Bollinger bands (20,2). (Barchart)

ICE weekly outlook: Canola still rangebound

Selling pressure seen from U.S. soy

Reading Time: < 1 minute MarketsFarm — ICE Futures canola contracts held rangebound during the week ended Wednesday, climbing to their strongest levels in two months at one point before running into resistance and retreating to trade well off those highs. “We’re still stuck in a trading range,” said Keith Ferley of RBC Dominion Securities in Winnipeg. Activity in outside […] Read more


ICE November 2021 canola (candlesticks) with 20-, 50- and 100-day moving averages (yellow, dark green and black lines). (Barchart)

ICE weekly outlook: Canola feeling the energy

Canola riding on fuels' bullish momentum

Reading Time: < 1 minute MarketsFarm — ICE Futures canola contracts moved steadily higher over the week ended Wednesday, hitting the top-end of a three month trading range. While tight Canadian supplies due to a Prairie drought have underpinned the market for some time, the latest strength and any future direction may be more closely tied to movement in energy […] Read more

Wheat being loaded onto a cargo ship in Vancouver in 2011. (File photo: Reuters/Ben Nelms)

Exports tumble as supplies simply not there

'There's very little to sell'

Reading Time: 2 minutes MarketsFarm — Cereal and oilseed exports out of Canada nosedived in August just as the 2021-22 marketing began, according to the monthly export report from the Canadian Grain Commission (CGC). At about 2.24 million tonnes, total grain exports were down 38.5 per cent overall compared to those in August 2020. “There’s very little to sell. […] Read more


File photo of a canola crop south of Ethelton, Sask. in 2019. (Dave Bedard photo)

Canada’s drought forces canola importers to turn elsewhere

'Importers...are going to be left out in the cold'

Reading Time: 2 minutes Winnipeg | Reuters — Canada’s smallest canola harvest in 13 years, resulting from severe drought, is forcing importers like Japan and Mexico to pay more or scour other countries for the yellow-flowering oilseed. With the scant available Canadian canola fetching high prices, customers of the world’s biggest canola exporter are leaning more heavily on smaller-producing […] Read more



ICE November 2021 canola (candlesticks) with Bollinger bands (20,2). (Barchart)

ICE weekly outlook: Analyst sees canola spike late next month

Movement expected to roll out of November soon

Reading Time: < 1 minute MarketsFarm — As the canola harvest winds down on the Prairies, ICE Futures canola began to climb upward in approaching $900 per tonne, the upper limit of its range. That’s given Winnipeg-based analyst Wayne Palmer of Exceed Grain reason to believe canola will bust through $900 per tonne. “That’s all due to the drought and […] Read more

(Dave Bedard photo)

AAFC lowers ending stocks estimates on crops

Reading Time: 2 minutes MarketsFarm — Canadian producers will see much tighter grain and oilseed stocks at the end of the current 2021-22 marketing year than what was expected last month, while those for pulse and special crops remain mostly steady. Agriculture and Agri-Food Canada’s (AAFC) September supply/demand estimates, released Friday, project 2021-22 ending stocks for all principal field […] Read more