Reading Time: 2 minutes Ottawa | Reuters — A British Columbia court ruling that could permit the extradition of a senior Huawei executive to the U.S. leaves Canada vulnerable to further retaliation from Beijing, analysts said. Huawei chief financial officer Meng Wanzhou on Wednesday lost a challenge to a U.S. bid to extradite her to face bank fraud charges, […] Read more
Huawei extradition ruling could unleash more Chinese backlash
More punitive trade measures expected
ICE weekly outlook: Extradition ruling not the only anchor on canola
Reading Time: < 1 minute MarketsFarm — Although ICE July canola finished $1.30 per tonne lower Wednesday, at $463.50, following a ruling on the extradition of Huawei executive Meng Wanzhou, Wayne Palmer said there’s much more to the decline in the price. While Palmer, a trader with Exceed Grain in Winnipeg, called the ruling “a nail in canola’s coffin,” he […] Read more
Huawei executive loses key court argument in fight against extradition
Reading Time: 2 minutes Toronto/Vancouver | Reuters — Huawei’s chief financial officer Meng Wanzhou has lost a key aspect of the trial on her extradition to the United States, a Canadian court announced on Wednesday. Meng, a Chinese citizen, was arrested in December 2018 in Vancouver on a warrant issued by U.S. authorities, who accuse her of bank fraud […] Read more
Legalization lifts Canada’s net farm income in 2019
Livestock receipts up, unsmokeable crop receipts lower
Reading Time: 3 minutes A significant year-over-year increase Canada booked last year in realized net farm income rests mainly on 2019’s status as the country’s first full year in the recreational cannabis market. Statistics Canada on Tuesday released full-year data on farm income, pegging Canada’s realized net farm income for 2019 at $4.9 billion — a 10.4 per cent […] Read more
Farmer deliveries well above average in April
Reading Time: < 1 minute MarketsFarm — Farmer deliveries of major grains into the Canadian commercial pipeline were up substantially in April, hitting their third-highest monthly total on record, according to updated data Statistics Canada released Monday. Farmers in April delivered 5.868 million tonnes of major grains, about a million tonnes above the monthly average during the 2019-20 crop-year-to-date, and […] Read more
AAFC tightens canola stocks projections
Reading Time: < 1 minute Corrected, May 25 — MarketsFarm — Canadian canola ending stocks for both the current marketing year and the upcoming 2020-21 season will be tighter than earlier forecasts, according to updated supply/demand estimates from Agriculture and Agri-Food Canada released Friday. The latest data take into account acreage estimates released by Statistics Canada earlier in the month. […] Read more
ICE weekly outlook: Canola nearing resistance
Reading Time: < 1 minute MarketsFarm — ICE Futures canola contracts have trended higher over the past month, but may be nearing the upper end of their nearby range. Solid demand, from both exporters and domestic crushers, has kept canola well supported, while a firmer tone in world energy and vegetable oil markets should also add some upside momentum, according […] Read more
USDA sets coronavirus aid payments for corn, soy, wheat
Reading Time: < 1 minute Chicago | Reuters — U.S. farmers that grow crops including corn and soybeans will receive coronavirus assistance payments based on either half of their 2019 production or the supplies they had on hand as of Jan. 15, the government said on Tuesday. The coronavirus aid is the latest in a round of government payments that […] Read more
Net short position reduced in canola
Reading Time: < 1 minute MarketsFarm — Rising futures prices saw speculators exiting short positions in canola and adding to a growing 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 at 38,738 contracts on Tuesday, […] Read more
ICE weekly outlook: Canola steady at midweek
Spring seeding more or less underway
Reading Time: < 1 minute MarketsFarm — After showing considerable strength in prior trading sessions, canola contracts were either side of unchanged at midweek. David Derwin of P.I. Financial in Winnipeg said canola was holding steady in comparison to other vegetable oils. “There’s general weakness in other markets, but canola hasn’t had too much of a move,” he said. Considerable […] Read more
A message from April Stewart, Country Guide's Associate Editor
