Reading Time: < 1 minute MarketsFarm — The ICE Futures canola market posted solid gains during the week ended Wednesday, hitting fresh contract highs in many months. The most active May contract hit a session high of $1,143.70 per tonne on Wednesday, but settled off that mark at $1,125.20 per tonne. While canola may be trading in uncharted territory, there […] Read more
ICE weekly outlook: Canola’s contract highs still underpriced
ICE weekly outlook: Canola finding plenty of support
Reading Time: < 1 minute MarketsFarm — ICE canola futures climbed to fresh contract highs during the week ended Wednesday, as activity in outside markets and canola’s own tight supply situation provided support. “Outside forces help it, but there are also things unique to the canola market that are supportive,” said David Derwin, commodities investment advisor with PI Financial in […] Read more
Adjustments minor in latest AAFC crop balance sheets
Reading Time: 2 minutes MarketsFarm — Only minor adjustments to the old- and new-crop balance sheets were reported by Agriculture and Agri-Food Canada in their February supply/demand report, released Friday. New-crop production estimates were left unchanged for all of the major grains, oilseeds and pulses, with a return to average yields across the Prairies expected to lead to increased […] Read more
ICE weekly outlook: Rangebound canola market consolidating
Reading Time: 2 minutes MarketsFarm — ICE Futures canola contracts moved lower during the week ended Wednesday before uncovering some support, as the commodity remained stuck in a range after trending higher for most of the past year. “Canola is caught in a rangebound, consolidation phase,” said MarketsFarm Pro analyst Mike Jubinville. The relative stability in canola, he said, […] Read more
ICE weekly outlook: No independent strength left in canola
Reading Time: < 1 minute MarketsFarm — At a little more than halfway through the 2021-22 marketing year for canola, a trader asserted the Canadian oilseed now lacks the ability to move independently. Rather, it will follow the ups and downs in oil and meal markets. “[Canola] did its thing months ago,” trader Ken Ball of PI Financial in Winnipeg […] Read more
Corteva CEO bullish on grain, oilseed prices for 2022
Reading Time: < 1 minute Reuters — Corteva expects prices for grains and oilseeds to remain high this year on record demand levels, its CEO said Thursday, following the insecticide and seed company’s upbeat sales outlook a day earlier. Global agriculture demand and prices for crops picked up pace in the fourth quarter of 2021, thanks to economies reopening and […] Read more
U.S. grains: Soybeans reach seven-month peak
Oil strength, South American crop worries lift soy; CBOT corn up, wheat down
Reading Time: 2 minutes Chicago | Reuters — U.S. soybean futures hit their highest in seven months on Wednesday on technical buying and as soyoil futures rallied with energy markets and historically high palm oil prices. Concerns about a reduced South American harvest and exports from top soy supplier Brazil offered further support, with strength spilling over into corn […] Read more
ICE weekly outlook: Choppy canola trade expected
Old-crop 'likely pushing the upper limits'
Reading Time: < 1 minute MarketsFarm — A speculative selloff weighed heavily on the ICE Futures canola market during the week ended Wednesday, before the selling subsided and prices regained much of their lost ground. “For prices this high, that’s pretty routine stuff,” said Ken Ball of PI Financial in Winnipeg on the $80 per tonne drop in the nearby […] Read more
AAFC adjusts grain, oilseed balance sheets slightly
Reading Time: 2 minutes MarketsFarm –– Updated supply and demand tables from Agriculture and Agri-Food Canada (AAFC), released late Friday, included only minor adjustments to balance sheets for the country’s major crops. The department’s projected ending stocks for wheat and canola were left unchanged from the previous month. Factoring in the official estimates from Statistics Canada, released Dec. 3, […] Read more
ICE weekly outlook: Canola futures bend under pressure
Reading Time: < 1 minute MarketsFarm — As the speculative longs for ICE Futures canola keep trying to defend their position, trader Ken Ball of PI Financial in Winnipeg said the pressure on canola continued to build. That’s especially so with declines over the last few weeks in Chicago soyoil, Malaysian palm oil and European rapeseed, he said. “No one […] Read more
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