Reading Time: 2 minutes With 2024 well underway, canola has very little reason to get excited, according to analyst Wayne Palmer of Exceed Grain in Winnipeg.
ICE weekly outlook: Virtually no upside for canola
Forthcoming South American soybean harvest a bearish influence
Speculative short position hits new record in canola
Soybeans hit largest net short position since March 2020
Reading Time: < 1 minute Speculators were back adding to their large net short position in canola to start 2024, taking the bearish bet to a new record, according to the latest Commitments of Traders report from the United States Commodity Futures Trading Commission (CFTC).
Sask. canola, flax groups vote to merge
SaskCanola and SaskFlax have been sharing offices, admin for about a year
Reading Time: 2 minutes Producer support for the merge of SaskCanola and SaskFlax was "overwhelming," the groups said in a Jan. 10 news release. The organizations held a joint annual general meeting to share results of member feedback before taking the issue to a vote. The vote passed with "widespread approval," the release said.
ICE canola weekly outlook: Possible support uncovered
Chicago soyoil has shown some stability, underpinning canola
Reading Time: < 1 minute The ICE Futures canola market hit fresh contract lows to start 2024 but may have finally uncovered some support.
ICE weekly outlook: More room to the downside for canola
Vegetable oil markets also became weaker
Reading Time: 2 minutes Even though selling activity for canola could be slowing down, according to an analyst, there are too many bearish indicators to predict a boost to prices.
Funds holding large net short in canola heading into 2024
Corn traders were covering shorts and putting on some new longs as New Year rolled in
Reading Time: < 1 minute The net short position in canola futures was sitting near its largest levels on record to end 2023, according to the latest Commitments of Traders report from the United States Commodity Futures Trading Commission (CFTC).
ICE weekly outlook: No reason for strong rally in canola
Canola likely to pull back once trading gets back into full swing in New Year
Reading Time: 2 minutes There were strong gains for canola on the Intercontinental Exchange on Dec. 27, as trading resumed after being closed for Christmas and Boxing Day. However, the gain will likely not be the prelude to a major upswing in the oilseed’s prices. Rather, canola is likely to pull back once trading gets back into full swing after the New Year, according to analyst Bruce Burnett of MarketsFarm.
Manitoba earmarks funds for sustainable aviation fuel plant
The facility may produce as much as one billion litres of canola and soy-based jet fuel
Reading Time: < 1 minute Calgary-based firm Azure Sustainable Fuels Corp. plans to use Canadian feedstock like soybean and canola oils to produce as much as one billion litres of renewable aviation fuel per year, the news release added.
AAFC raises canola, wheat ending stocks forecasts
Pea, barley carryout estimates raised, lentils cut in half
Reading Time: < 1 minute Glacier FarmMedia – Canadian canola and wheat carryout for the 2023/24 marketing year will likely end up above earlier projections, according to the latest Outlook for Principal Field Crops from Agriculture and Agri-Food Canada (AAFC) released Dec. 15.
ICE weekly outlook: Drifting market in need of outside support
South America growing conditions likely price driver in soy markets for next months
Reading Time: < 1 minute The ICE Futures canola market remained under pressure heading into the New Year, lacking any significant supportive news of its own that could spark a move higher.
A message from April Stewart, Country Guide's Associate Editor
