GFM Network News

ICE weekly outlook: Profit-taking to pressure canola

Market appearing overdone

Reading Time: < 1 minute MarketsFarm — ICE Futures canola contracts climbed to record highs during the week ended Wednesday as concerns over tightening old-crop supplies provided support. However, the market was looking overdone to the upside and profit-taking came forward to put some pressure on values. “The traders that are still long are playing the game of forcing the […] Read more

ICE weekly outlook: March canola contract not quite out of game

Reading Time: 2 minutes MarketsFarm — ICE Futures’ March canola contract doesn’t have too much to do with the price of the Canadian oilseed directly now but still can influence prices in coming days, according to Keith Ferley of RBC Dominion Securities in Winnipeg. Open interest in the March contract was around 15,000 as of Feb. 17. Ferley noted […] Read more

ICE weekly outlook: WASDE spillover boosts canola

Canola may soon become price-sensitive, analyst says

Reading Time: 2 minutes MarketsFarm — Sharp increases in soybean, corn and wheat futures on Tuesday, following the release of the latest supply and demand report from the U.S. Department of Agriculture (USDA), in turn spilled over into canola. The most significant factors in USDA’s world agricultural supply and demand estimates (WASDE) were further reductions to ending stocks for […] Read more

Missing pods are a symptom of heat stress during flowering.

Canola flowers flounder in the heat

Yield loss can be more than we realize — highs over 29.5 C disrupt the flower-fertilization process, which can leave blanks and empty pods up the stem

Reading Time: 7 minutes Lindsay Wytinck was camping with her family on the 2020 July long weekend and did something she doesn’t usually do — turned on the camper air conditioner so they could sleep. “That was a first for us,” says the farmer from Cypress River, Man. “The nights were so uncomfortably hot.” Meanwhile back at the farm, […] Read more

ICE weekly outlook: Rallying canola not at top yet

Reading Time: < 1 minute MarketsFarm — ICE Futures canola contracts continued to climb higher during the first few trading days of 2021 — and could still see more gains before the inevitable correction. “We’re not necessarily at the top,” said analyst Errol Anderson of Pro Market Communications in Calgary, adding “the market is going through intense demand rationing right […] Read more

Grain, seed corn growers get access to seasonal worker program

Maple syrup also added to national commodity list

Reading Time: 2 minutes Growers of grains, oilseeds and seed corn and maple syrup producers may be able to get in on the federal Seasonal Agricultural Worker Program (SAWP) for the 2021 season. Federal Employment Minister Carla Qualtrough announced Nov. 27 the national commodity list (NCL) would be expanded to include seed corn, oil seed, grains and maple syrup […] Read more

Grain, oilseed exports well ahead of year-ago

Chinese demand up substantially for Canada's crops

Reading Time: < 1 minute MarketsFarm — Canadian grain exports continue to run at a very solid pace, with canola, wheat and barley movement-to-date all up substantially on the year. Total exports of Canada’s major grains and oilseeds as of Nov. 29 came in at 18.9 million tonnes, according to Canadian Grain Commission (CGC) data. That’s up by nearly five […] Read more

Crop stocks forecasts mostly unchanged in AAFC supply/demand report

Corn carryout revised upward

Reading Time: < 1 minute MarketsFarm — Updated crop supply/demand tables from Agriculture and Agri-Food Canada, released Friday, included only minor changes from the previous month. Larger adjustments are expected after Statistics Canada releases its final production numbers for the year on Dec. 3. Canola and all-wheat ending stocks for the 2020-21 marketing year were both left unchanged at 2.25 […] Read more

ADM beats profit estimates but revenue disappoints

Reading Time: 2 minutes Reuters — Global grains trader Archer Daniels Midland beat Wall Street estimates for quarterly profits on Thursday, helped by strength in its grain milling and nutrition businesses. Still, revenue missed analysts’ expectations and net earnings attributable to the company were 44 per cent lower than a year earlier. Shares were down nearly three per cent […] Read more

ICE weekly outlook: Canola’s top likely in for 2020

Reading Time: < 1 minute MarketsFarm — The shine has officially come off the ICE Futures canola market, with prices dropping well below their multi-year highs during the last week of October. The most active January contract hit an overnight low of $514 per tonne on Wednesday, but managed to settle at $535.60. That compares with the contract high of […] Read more