Reading Time: 2 minutes Toronto | Reuters — Canada ratcheted up pressure on Russia for its invasion of Ukraine by shutting ports to Russian-owned ships and saying on Tuesday that holdings of all Russian oligarchs and companies in the country are under review. Canada has announced a slew of measures to isolate Russia, including imposing sanctions on Russian President […] Read more
Canada shuts ports to Russian ships over Ukraine invasion
Russian firms' Canadian holdings also under scrutiny, Freeland warns
ICE weekly outlook: Canola finding plenty of support
Reading Time: < 1 minute MarketsFarm — ICE canola futures climbed to fresh contract highs during the week ended Wednesday, as activity in outside markets and canola’s own tight supply situation provided support. “Outside forces help it, but there are also things unique to the canola market that are supportive,” said David Derwin, commodities investment advisor with PI Financial in […] Read more
Richardson crush plant staff ward off strike vote
Unionized staff at Lethbridge vote to ratify new contract
Reading Time: 2 minutes Unionized staff at Richardson International’s canola crush plant at Lethbridge have voted for six years’ labour peace rather than proceeding toward a strike vote. The 140-odd workers, represented by United Food and Commercial Workers (UFCW) Local 401, voted Feb. 1-2 on a new proposal from the company after voting 79 per cent in December to […] Read more
ICE weekly outlook: Rangebound canola market consolidating
Reading Time: 2 minutes MarketsFarm — ICE Futures canola contracts moved lower during the week ended Wednesday before uncovering some support, as the commodity remained stuck in a range after trending higher for most of the past year. “Canola is caught in a rangebound, consolidation phase,” said MarketsFarm Pro analyst Mike Jubinville. The relative stability in canola, he said, […] Read more
ICE weekly outlook: No independent strength left in canola
Reading Time: < 1 minute MarketsFarm — At a little more than halfway through the 2021-22 marketing year for canola, a trader asserted the Canadian oilseed now lacks the ability to move independently. Rather, it will follow the ups and downs in oil and meal markets. “[Canola] did its thing months ago,” trader Ken Ball of PI Financial in Winnipeg […] Read more
StatsCan confirms tight grain and oilseed stocks
Canadian corn stocks up on year
Reading Time: 2 minutes MarketsFarm — Canada’s tight supplies of canola, wheat and other crops following the 2021 Prairie drought received more confirmation from Statistics Canada with the release of updated stocks data on Tuesday. Canola stocks, as of Dec. 31, 2021, of 7.6 million tonnes were down 43 per cent from the previous year and the tightest since […] Read more
ICE weekly outlook: Canola moving back in line with soybeans
Reading Time: < 1 minute MarketsFarm — ICE Futures canola contracts moved higher during the week ended Wednesday, but lagged the Chicago Board of Trade soy complex to the upside as the spreads between the two markets saw some readjustment. “If you had bought 100 tonnes of March canola on Dec. 21 you’d be up about $10 per tonne right […] Read more
Richardson crush plant workers to vote on new offer
UFCW team endorses latest offer
Reading Time: 2 minutes Unionized workers at Richardson International’s oilseed crush plant at Lethbridge, Alta. will vote Tuesday and Wednesday on a new offer from the company after rejecting a previous proposal. United Food and Commercial Workers (UFCW) Local 401 announced Tuesday (Jan. 25) its negotiating committee “fully endorses” the new offer after the company’s Richardson Oilseed division “enhanced […] Read more
ICE weekly outlook: Canola in stratosphere as old-, new-crop gaps narrows
Reading Time: 2 minutes MarketsFarm — With so many influences affecting ICE Futures canola, one trader said it’s hard to figure just where the Canadian oilseed will go. Another trader, however, said the days of canola fetching more than $1,000 per tonne for an extended period of time are pretty much over. “It’s probably the craziest period we ever […] Read more
Larger Canadian crops predicted in AAFC’s first 2022 outlook
Reading Time: 2 minutes MarketsFarm — A return to trend-line yields after the past year’s drought should lead to a significant increase in Canadian crop production in 2022, according to the first supply/demand estimates for the 2022-23 season from Agriculture and Agri-Food Canada (AAFC), released late Friday. Seeded area is expected to be up for wheat and the pulses, […] Read more
A message from April Stewart, Country Guide's Associate Editor
