Reading Time: < 1 minute MarketsFarm — Speculators reduced their net short position in canola during the first week of May and added to their net long position in soybeans, while placing fresh bearish bets on corn, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). The net managed money short position […] Read more
Funds cover canola shorts, but still bearish on corn
Adjustments likely ahead for StatsCan’s early acreage estimates
Projections still in line with grain trade's expectations
Reading Time: 2 minutes MarketsFarm — The results of the first acreage estimates for 2020 from Statistics Canada come with an asterisk, as the COVID-19 pandemic halted data collection early. Canada’s actual seeded area is expected to see some shifts from the projections released Thursday. “As a result of the timing of the COVID-19 pandemic, these estimates were produced […] Read more
Trade estimates vary ahead of StatsCan’s acreage report
Reading Time: 3 minutes MarketsFarm — Opinions are wide-ranging on what Canadian farmers plan to plant in 2020, ahead of Statistics Canada’s first round of acreage estimates, due out Thursday. Prior to lockdown measures put in place due to the COVID-19 pandemic, StatsCan was scheduled to release its first principal field crops area report for 2020 on April 24. […] Read more
ICE weekly outlook: Canola acres could be in flux
Reading Time: < 1 minute MarketsFarm — Canada’s canola acres are generally expected to be higher in the first area report of the year from Statistics Canada, compared to the 20.96 million acres estimated to have been seeded in 2019. Estimates are wide-ranging, with some analysts predicting a slight reduction in canola area and others calling for an increase of […] Read more
Global grain production to exceed 2.2 billion tonnes, IGC predicts
Reading Time: 2 minutes MarketsFarm — The International Grain Council (IGC) has revised its latest monthly forecast of global grain production down slightly. The IGC projected global production in 2020-21 to hit 2.218 billion tonnes its April 30 report, for a drop of five million tonnes from its March estimate. The reduction was due to the dry conditions in […] Read more
Funds add to short position in canola, move to net long in soy
Reading Time: < 1 minute MarketsFarm — The net managed money short position in canola rose slightly in late April, while soybean speculators covered some of their bearish bets, 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
ICE weekly outlook: Demand keeps canola well supported
Reading Time: < 1 minute MarketsFarm — ICE Futures canola contracts moved higher during the week ended Wednesday, holding above major support as end-users showed solid demand. “The demand side of the formula is still quite good,” said Errol Anderson, of Pro Market Communications in Calgary. Domestic crushers were showing the best demand, he said, but added that exporters were […] Read more
Supply chain working but canola groups have concerns
Federal field trials need to continue and growers need protective equipment, they say
Reading Time: < 1 minute There have been no issues so far with supplies of inputs and parts, transportation or oilseed processing during the pandemic, canola industry officials report. “We’ve been really focused on making sure farmers have access to inputs and resources to get the 2020 crop in the ground,” Canola Council of Canada president Jim Everson said during […] Read more
Speculators turn bearish in soybeans, add to canola shorts
Reading Time: < 1 minute MarketsFarm — Fund traders have turned from a net long position to a net short position in Chicago soybeans while also adding to their bearish bets in canola, 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 […] Read more
Tighter canola stocks, more wheat in updated ag department tables
Reading Time: < 1 minute MarketsFarm — Updated supply/demand tables released by Agriculture and Agri-Food Canada on Wednesday include only minor adjustments to stocks and usage numbers, with slightly tighter canola ending stocks and a small increase in wheat supplies. Canola ending stocks for 2020-21 are forecast at 2.7 million tonnes in the updated tables. That would be down from […] Read more
A message from April Stewart, Country Guide's Associate Editor
