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.
ICE weekly outlook: More room to the downside for canola
Vegetable oil markets also became weaker
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.
Funds back adding to shorts in canola after month of covering
Corn traders were on the other side of the market
Reading Time: < 1 minute After a month of covering short positions, fund traders were back adding to their bearish bets to start December, with the net short position in the oilseed growing by roughly 13,000 contracts, according to the latest Commitments of Traders report from the United States Commodity Futures Trading Commission (CFTC).
China accounting for bulk of Canadian canola exports so far
Chinese wheat imports roughly half of last years' at same time
Reading Time: 2 minutes China has done most of the heavy lifting when it comes to Canadian canola exports through the first three months of the 2023/24 marketing year (Aug/Jul), according to the latest international trade data released Dec. 6.
Statistics Canada reported canola exports through October at 1.566 million tonnes, with China accounting for 64 per cent of the total (1.006 million tonnes). Japan and Mexico followed at 273,300 tonnes and 196,900 tonnes respectively.
ICE weekly outlook: Canola likely to keep sliding back
With larger crop, trade likely to be overwhelmed by deliveries, analyst says
Reading Time: 2 minutes There is a rather significant bearish outlook for canola for the rest of December, according to Jerry Klassen of Resilient Commodity Analysis. He said a large part of this was generated by the Statistics Canada production report released on Dec. 4.
Australian crops improve, but well off recent records
Winter crop harvest reportedly progressing quicker, earlier than recent years
Reading Time: < 1 minute Australia’s winter crop production likely beat earlier expectations but will still be down considerably compared to the record-large production in recent years, according to the latest crop report from the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES).
A message from April Stewart, Country Guide's Associate Editor
