Reading Time: < 1 minute MarketsFarm — Although Agriculture and Agri-Food Canada (AAFC) released its production forecast Wednesday, markets are focused on next week’s production report from Statistics Canada — a survey-based report which should provide a clearer picture of what’s to come. AAFC’s August report kept the canola production estimate at July’s 18.575 million tonnes. “Maybe we’ll see if […] Read more
ICE weekly outlook: Canola trade’s eyes on StatsCan report
ICE weekly outlook: Choppy canola trade likely
Reading Time: < 1 minute MarketsFarm — The ICE Futures canola market tested major chart support during the week ended Wednesday, but could be due for some choppy activity and eventual strength over the next few weeks, depending on what happens with the weather and in U.S. corn and soybean markets. The canola crop looks good across much of Alberta […] Read more
ICE weekly outlook: Canola markets remain sensitive to weather
Reading Time: < 1 minute MarketsFarm — Canola markets were following trends set by soybean prices, as worries of late planting weighed on the minds of traders and farmers alike. As corn planting comes to an end, prolonged wet weather has continued to delay soybean planting to the point where the growing season may be shortened. “I think the market […] Read more
Input Capital steps back from mortgage expansion plans
Reading Time: 2 minutes Up against the current canola market, “commodity streaming” firm Input Capital has put off plans to ramp up its mortgage business with canola growers. The publicly traded Regina company in February announced a “comprehensive review of strategic alternatives to enhance shareholder value” and said it was in “an ongoing search for appropriate scalable sources of […] Read more
ICE weekly outlook: Canola looking for more support
Reading Time: < 1 minute MarketsFarm — ICE canola futures moved higher during the week ended Wednesday as a rally in the Chicago Board of Trade soy complex provided support. Whether there’s more room to the upside remains to be seen. “It looks like we’ve maybe turned a corner,” said Wayne Palmer, senior market analyst with Exceed Grain in Winnipeg. […] Read more
Net short position climbs in canola
Reading Time: < 1 minute MarketsFarm — The large speculative short position in ICE Futures canola contracts widened the week ended Tuesday, as speculators added to their bearish bets on the market, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). Managed money and other reportable speculators on Tuesday had a net […] Read more
ICE weekly outlook: Acreage report halts canola skid
Reading Time: 2 minutes MarketsFarm –– Statistics Canada’s acreage report has provided something of a much-needed bounce for canola bids. Canola hit a record low Tuesday, with the May contract at $437.80 per tonne and the July contract at $446.10 per tonne. The primary reason for the huge drop was the price of soybeans on the Chicago Board of […] Read more
ICE weekly outlook: Canola bearish with or without China
Reading Time: 2 minutes MarketsFarm — ICE Futures canola contracts saw a modest correction off of major support over the week ended Wednesday, but the longer-term trend remains pointed lower with large old-crop supplies and uncertain export prospects overhanging the market. Canadian canola exports to China are effectively non-existent right now, with the absence of that major customer casting […] Read more
ICE weekly outlook: China’s canola issues already well known
Reading Time: 2 minutes MarketsFarm — To some who follow commodities markets, it was clear some other participants had overreacted to the news of China banning canola imports from Viterra. Bruce Burnett of MarketsFarm was one of those who saw Canadian exports of canola to China have pretty much dried up since January. That came a few weeks after […] Read more
ICE weekly outlook: Weak export data holds back canola market
Reading Time: 2 minutes The Canadian dollar and vegetable oil are the main supports for canola contracts on the futures markets, but sluggish exports are holding it back from further gains, said a market analyst. Other than being down on Monday, canola has finished up in five of its last six sessions, according to Pro Farmer Canada’s Mike Jubinville. […] Read more
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