Reading Time: < 1 minute MarketsFarm — Canola contracts have stayed locked in a pattern for the past few trading sessions, with the July contract posting small gains and new crop year contracts showing losses. That’s mainly due to traders positioning ahead of July’s expiry date. “It’s not uncommon for the July expiry to see some spreads swing around,” said […] Read more
ICE weekly outlook: Canola mixed at midweek
Little change seen in June’s crop supply/demand tables
Reading Time: < 1 minute MarketsFarm — Supply/demand estimates for Canada’s major crops saw little change in updated tables released Tuesday from Agriculture and Agri-Food Canada. Acreage estimates from Statistics Canada are due out June 30, and should lead to more sizeable adjustments in subsequent reports. Canola ending stocks were left unchanged at 2.6 million tonnes for the current marketing […] Read more
Flea beetle damage ‘moderate’ across Prairies so far
Levels in Manitoba hit thresholds for spraying, reseeding canola
Reading Time: 2 minutes MarketsFarm — Flea beetles, cutworms and diamondback moths are only a few of the pests Prairie farmers have to deal with — and this year, so far, damage from flea beetles and cutworms has varied, as have moth counts. “Flea beetles are common throughout the Prairies, everywhere we grow canola. We haven’t been able to […] Read more
Fund short position edging down in canola
Reading Time: < 1 minute MarketsFarm — The managed money net short position in canola saw a slight reduction in mid-June, as speculators covered short positions in the market, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). The net managed money short position in ICE Futures canola came in Tuesday at […] Read more
Weekly canola exports well below average
Reading Time: < 1 minute MarketsFarm — Weekly Canadian canola exports fell to their second-lowest level of the 2019-20 crop year-to-date during the week ended Sunday, according to the latest data from the Canadian Grain Commission. Only 80,300 tonnes of canola were exported during the 45th week of the crop year, down 44 per cent from the previous week and […] Read more
ICE weekly outlook: Canola likely to move lower
Reading Time: < 1 minute MarketsFarm — The direction canola will move in coming weeks depends on three factors: the Canadian dollar, Prairie weather and the Chicago Board of Trade, according to Errol Anderson of ProMarket Communications in Calgary. “I’m expecting the Canadian dollar to move up a bit, just because of U.S. dollar pressure. That could pull the canola […] Read more
ICE weekly outlook: Attention on weather after short-covering rally in canola
Reading Time: < 1 minute MarketsFarm — ICE Futures canola contracts have recovered off of lows hit at the beginning of the month, with speculative short-covering a feature as attention in the markets turns to North American growing conditions. While canola ran into some resistance Wednesday, there may still be more room to the upside. Canadian canola is at a […] Read more
Fund traders still bearish on canola
Reading Time: < 1 minute MarketsFarm — The managed money net short position in canola grew to nearly 50,000 contracts in the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). The net managed money short position in ICE Futures canola came in Tuesday at 48,777 contracts (3,932 long/52,709 short), an increase of about 10,000 […] Read more
Canola supplies in commercial pipeline tighten
Reading Time: < 1 minute MarketsFarm — Canola supplies in the commercial pipeline fell below a million tonnes for the first time in more than seven months, according to the latest Canadian Grain Commission data, amid solid exports and a slowdown in farmer deliveries. Total visible canola supplies of 815,200 tonnes, as of May 24, were down 24 per cent […] Read more
Fund traders add to short positions in canola, corn
Reading Time: < 1 minute MarketsFarm — Fund traders added to net short positions in canola and corn while reducing their net long in soybeans, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). The net managed money short position in ICE Futures canola came in Tuesday at 38,810 contracts (5,349 long/44,159 […] Read more
A message from April Stewart, Country Guide's Associate Editor
