Reading Time: < 1 minute MarketsFarm — One canola trader wouldn’t go so far as to calling the canola market lifeless, but it has remained rangebound for most of the week. That’s mainly due to pressure from harvest activity, which has carried on at an impressive pace on the Canadian Prairies despite being mired with difficult weather conditions. “I’ve talked […] Read more
ICE weekly outlook: Canola values stay rangebound
Most oilseed estimates down in USDA’s October outlook
Reading Time: 2 minutes MarketsFarm — The U.S. Department of Agriculture (USDA) released its monthly oil crops outlook on Tuesday featuring reductions in global rapeseed and sunflower production and U.S. soybeans. USDA estimated global rapeseed production at 68.6 million tonnes, a decline of one million, with the lion’s share of the losses in Canada. Canadian production for 2019-20 was […] Read more
Fund traders back away from bearish bets in grains, oilseeds
Reading Time: < 1 minute MarketsFarm — Commodity fund traders were busy covering short positions in corn and canola during the week ended Oct. 8, and even moved to a small 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 […] Read more
ICE weekly outlook: More than weather behind canola uptrend
Reading Time: < 1 minute MarketsFarm — Canola’s sharp rise over the last week can be attributed not only to poor weather on the Prairies, but to other factors as well, according to MarketsFarm Pro analyst Mike Jubinville. For seven straight trading sessions, canola bids have climbed, from $445.60 per tonne at the close of trading on Sept. 27 to […] Read more
Canola breaks out of sideways range, uptrend slowing
Reading Time: < 1 minute MarketsFarm — ICE Futures canola broke out of a long standing sideways trading range during the first week of October, but could be running out of steam to the upside from a technical standpoint. The nearby November contract had held within a $15 range between $440 and $455 per tonne all summer, but jumped out […] Read more
Funds hold steady in canola
Reading Time: < 1 minute MarketsFarm — Fund traders in the U.S. were busy covering short positions and putting on fresh longs in the soybean and corn markets during the week ended Oct. 1. Meanwhile, the net fund short position in canola held relatively steady, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading […] Read more
Canola shipments boost Thunder Bay port activity
Reading Time: < 1 minute MarketsFarm — Cargo movement through the Port of Thunder Bay is running ahead of the previous year’s pace, with some of the extra movement tied to increased canola exports to Europe, according to the latest data from the port authority. Total cargo movement in September of 1.1 million tonnes compares with the 919,386 tonnes reported […] Read more
ICE weekly outlook: Upside limited for canola’s snow boost
Reading Time: < 1 minute MarketsFarm — An unwelcomed early winter storm sent ICE Futures canola contracts higher during the week ended Wednesday, but it will take outside support to sustain a rally, according to industry participants. Snow in Alberta and Saskatchewan and cool and wet conditions in Manitoba slowed harvest operations during the week, with about 60 per cent […] Read more
Alberta snow further delays canola harvest, boosts prices
Reading Time: < 1 minute MarketsFarm — Canola futures finished up at Monday’s close, boosted by a weather premium after a low-pressure system brought considerable snowfall to parts of Alberta over the weekend. Snow was mostly concentrated in the southern region of the province. Calgary and surrounding areas received around 30 centimetres of snow, according to preliminary results from Environment […] Read more
Funds cover some shorts in grains, oilseeds
Reading Time: < 1 minute MarketsFarm — The net fund short position in canola was reduced slightly during the week ended Tuesday, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). Speculators also bought back some of their bearish bets in soybeans and corn, the CoT report noted. The net managed money […] Read more
A message from April Stewart, Country Guide's Associate Editor
