Reading Time: 2 minutes MarketsFarm — After starting this week with losses, canola bounced back with back-to-back gains, raising prices by more than $20 per tonne for old-crop after falling back $4-$5 on Monday. Errol Anderson, an analyst with ProMarket Communications in Calgary, emphasized there will be a good amount of volatility in the markets, with wide swings possible […] Read more
ICE weekly outlook: For canola, the only certainty is volatility
"The market has to feel comfortable there’s a crop on the way"
U.S. grains: Soybeans extend gains on veg oil rally
Corn rangebound, weather weighs on wheat
Reading Time: 2 minutes Chicago | Reuters — Chicago soybean futures gained for a fourth straight session on Wednesday supported by tightness in vegetable oil markets as traders anticipate U.S. planting data next week. Nearby corn futures rose, while deferred contracts representing the 2021 crop softened ahead of the U.S. Department of Agriculture’s March 31 planting intentions and quarterly […] Read more
ICE weekly outlook: Canola’s correction likely short-lived given tight supplies
Reading Time: < 1 minute MarketsFarm — The ICE Futures canola market ran into a profit-taking correction on Wednesday, backing away from recently-hit contract highs. While a further correction is possible, the underlying fundamentals remain supportive and canola is expected to retain its relative strength to other oilseeds. “The market needs bullish fuel, but it’s just not getting any,” said […] Read more
ICE weekly outlook: Canola back where it started
Day-to-day movements seen as tough to predict
Reading Time: 2 minutes MarketsFarm — ICE canola futures are pretty much back where they were a week ago after losing ground, only to recover by small — and then strong — gains. The May canola contract finished at $765.20 per tonne on Friday and closed Wednesday at $767.30. In between, the lowest close for May was $735.20. That […] Read more
Sunflower seed market falls back to Earth
Reading Time: 2 minutes MarketsFarm — Sunflower growers in Canada took off a bumper crop in 2020, almost hitting the 100,000-tonne mark for the first time since 2010. The forecast for this year’s crop isn’t as sunny. Agriculture and Agri-Food Canada’s latest outlook, released earlier this month, predicts the national sunflower seed crop in 2021 at 75,000 tonnes off […] Read more
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
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
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