Reading Time: < 1 minute MarketsFarm — There was a tremendous drop in canola exports from Canada during week 34 of the 2021-22 marketing year, according to the Canadian Grain Commission. The commission’s report issued Thursday showed a mere 800 tonnes of canola were shipped overseas. The week before, 128,300 tonnes were outbound. “We’re really getting close to running out,” […] Read more
Canola exports turn tiny as Canada running out
ICE weekly outlook: Canola in its own world, analyst says
Reading Time: 2 minutes MarketsFarm — To market analyst Wayne Palmer of Exceed Grain, canola “has been in a world of its own for about the last month,” and he expects that will remain the case for some time. Canola, he explained, has generally done the opposite of the Chicago soy complex — which the Canadian oilseed normally follows. […] Read more
ICE weekly outlook: Strong canola market to ‘see both sides of rainbow’
Reading Time: < 1 minute MarketsFarm — ICE Futures canola contracts climbed to their highest levels ever during the week ended Wednesday before running into some profit-taking resistance. Its general uptrend remains intact for the time being, but a downturn is also inevitable. The nearby May canola contract hit a session high of $1,177.80 per tonne on Wednesday, before backing […] Read more
AAFC warns of uncertainty in latest crop outlook
Reading Time: 2 minutes MarketsFarm — The supply/demand balance sheets for Canada’s major crops were largely left unchanged in the latest outlook Friday from Agriculture and Agri-Food Canada. While the March report only saw minor revisions, the government agency cautioned that “the economic outlook, for the world and Canadian grain markets, is particularly uncertain due to the Russian invasion […] Read more
ICE weekly outlook: Canola lower, but expected to climb
Reading Time: < 1 minute MarketsFarm — Although canola prices closed lower on Wednesday, the Canadian oilseed is seen as still likely to grind higher in the coming weeks. “The charts and the patterns that have developed, and are still in place for canola, have been kind of the same for the past few months. The longer-term trends are still […] Read more
Oil content of Canada’s canola well below average in 2021
Reading Time: < 1 minute MarketsFarm — The average oil content of Canada’s canola crop came in well below normal in 2021-22, according to the final quality report for the year from the Canadian Grain Commission (CGC). The average oil content came in at only 41.3 per cent for the year, which compares with 44.1 per cent the previous year […] Read more
ICE weekly outlook: Canola’s contract highs still underpriced
Reading Time: < 1 minute MarketsFarm — The ICE Futures canola market posted solid gains during the week ended Wednesday, hitting fresh contract highs in many months. The most active May contract hit a session high of $1,143.70 per tonne on Wednesday, but settled off that mark at $1,125.20 per tonne. While canola may be trading in uncharted territory, there […] Read more
ICE weekly outlook: Analyst sees sharp declines coming for canola
Reading Time: 2 minutes MarketsFarm — Sharp increases in canola and other commodities are said to be coming to an end, according to analyst Errol Anderson of ProMarket Communications in Calgary. Concerns stemming from Russia’s invasion of Ukraine have sparked huge gains, but there’s very likely a good amount of volatility ahead. “The market is being really driven by […] Read more
Canada shuts ports to Russian ships over Ukraine invasion
Russian firms' Canadian holdings also under scrutiny, Freeland warns
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
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
A message from April Stewart, Country Guide's Associate Editor
