Reading Time: < 1 minute MarketsFarm — Nearby ICE Futures canola contracts climbed to fresh highs during the week ended Wednesday, while= deferred months moved lower. The new-crop November 2022 contract had overshot to the upside and was due for a correction, said Keith Ferley of RBC Dominion Securities in Winnipeg. Any weakness would likely be met by commercial buying, […] Read more
ICE weekly outlook: Canola market strong but choppy
Repair work on B.C. rail lines expected for days yet
CP expects to resume service 'mid-week;' some highways open only for essential travel
Reading Time: 4 minutes Canada’s big two railways expect repair work to continue into at least next week before service can resume through storm-battered areas of British Columbia to export terminals at Vancouver. Both railways, along with several major B.C. highways, have been shut this week due to damage from flooding and landslides spurred by a major multi-day storm […] Read more
ICE weekly outlook: Canola’s trend line still pointed higher
Reading Time: < 1 minute MarketsFarm — The ICE Futures canola market strengthened during the week ended Wednesday, hitting fresh highs in many contract months. “The trend remains up,” analyst Mike Jubinville of MarketsFarm Pro said. “The price of canola needs to be put at a level that discourages exports, while the domestic crushers actively pursue attaining as much of […] Read more
Bunge raises 2021 profit outlook on higher food, renewable fuel demand
Reading Time: 2 minutes Bunge Ltd reported stronger-than-expected third-quarter results and raised its full-year profit outlook on Wednesday for a third time this year amid improved demand for food and renewable fuel as pandemic restrictions have eased. Although volumes in the U.S. agricultural commodities trader’s core agribusiness and its refined and specialty oils units were down, robust oilseed processing […] Read more
Winter camelina showing promise
It can be straight cut, and flea beetles aren’t a problem
Reading Time: 5 minutes Agriculture and Agri-Food Canada’s camelina breeder Christina Eynck seeded a couple of winter camelina trials in Saskatoon late in the last third of September 2019. Then there was an early freeze-up. “The plants were only in the cotyledon stage, and very few of them had developed the first true leaves. We thought, ‘This is not […] Read more
ICE weekly outlook: Canola still rangebound
Selling pressure seen from U.S. soy
Reading Time: < 1 minute MarketsFarm — ICE Futures canola contracts held rangebound during the week ended Wednesday, climbing to their strongest levels in two months at one point before running into resistance and retreating to trade well off those highs. “We’re still stuck in a trading range,” said Keith Ferley of RBC Dominion Securities in Winnipeg. Activity in outside […] Read more
Exports tumble as supplies simply not there
'There's very little to sell'
Reading Time: 2 minutes MarketsFarm — Cereal and oilseed exports out of Canada nosedived in August just as the 2021-22 marketing began, according to the monthly export report from the Canadian Grain Commission (CGC). At about 2.24 million tonnes, total grain exports were down 38.5 per cent overall compared to those in August 2020. “There’s very little to sell. […] Read more
Canola exports down 72 per cent through eight weeks
Reading Time: < 1 minute MarketsFarm — Canadian canola and wheat exports continue to run well behind the year-ago pace, with movement of all crops down 34 per cent through the first eight weeks of the 2021-22 crop year. Total exports of all of the major grains, oilseeds and pulses as of Sunday, at 4.714 million tonnes, are down by […] Read more
AAFC lowers ending stocks estimates on crops
Reading Time: 2 minutes MarketsFarm — Canadian producers will see much tighter grain and oilseed stocks at the end of the current 2021-22 marketing year than what was expected last month, while those for pulse and special crops remain mostly steady. Agriculture and Agri-Food Canada’s (AAFC) September supply/demand estimates, released Friday, project 2021-22 ending stocks for all principal field […] Read more
Dreyfus, others shut soy crushers in China on power curbs
'Cash is on fire'
Reading Time: 2 minutes Beijing | Reuters — Soymeal prices in China, the world’s top consumer of the animal feed ingredient, are rising after at least 20 soybean crushing plants shuttered to comply with curbs on industrial power consumption, industry participants said on Friday. Five crushing plants in the northern city of Tianjin closed this week, said Tianfeng Futures […] Read more
A message from April Stewart, Country Guide's Associate Editor
