Reading Time: < 1 minute MarketsFarm – ICE Futures canola contracts climbed above chart resistance to hit their highest levels in six-months on July 29. While there is more room to the upside, farmer selling could temper additional gains. Fund traders adding to long positions together with solid export demand, especially from Europe, accounted for much of the recent strength […] Read more
ICE weekly outlook: Canola scale-up selling to temper gains
ICE weekly outlook: Canola likely to move lower
Reading Time: < 1 minute MarketsFarm — The direction canola will move in coming weeks depends on three factors: the Canadian dollar, Prairie weather and the Chicago Board of Trade, according to Errol Anderson of ProMarket Communications in Calgary. “I’m expecting the Canadian dollar to move up a bit, just because of U.S. dollar pressure. That could pull the canola […] Read more
Bigger sunflower crop expected for 2020
Reading Time: < 1 minute MarketsFarm — Canada will likely see its largest sunflower crop in a number of years in 2020 if weather conditions co-operate, as good end-user demand and solid returns for growers generate increased interest in the crop. Canadian farmers intend to seed 104,400 acres of sunflowers this spring, which would be up 36 per cent on […] Read more
Grains, oilseeds, pulses hold their own amid pandemic
Reading Time: 3 minutes MarketsFarm — Prices for grains, oilseeds and pulses are not as bad off as livestock values are due to the COVID-19 pandemic, according to Neil Townsend, chief market analyst for FarmLink Solutions in Winnipeg. FarmLink hosted a webinar Wednesday to provide its outlook for the coming crop year. One thing Townsend stressed was there is […] Read more
ICE weekly outlook: Demand keeps canola well supported
Reading Time: < 1 minute MarketsFarm — ICE Futures canola contracts moved higher during the week ended Wednesday, holding above major support as end-users showed solid demand. “The demand side of the formula is still quite good,” said Errol Anderson, of Pro Market Communications in Calgary. Domestic crushers were showing the best demand, he said, but added that exporters were […] Read more
February’s oilseed crush lower than January’s
Canola, soybean crush down on month, StatsCan reports
Reading Time: 2 minutes MarketsFarm — As has often been the case, February 2020’s oilseed crush was lower than January’s, according to Statistics Canada’s latest report released Thursday. More than 812,600 tonnes of canola were crushed in February, down 4.9 per cent from January. Also, there were 144,260 tonnes of soybeans crushed in February, for a drop of 10.7 […] Read more
Ontario extends RMP deadlines for crops, livestock
Move won't create coverage gaps, Agricorp says
Reading Time: < 1 minute Ontario grain, oilseed and livestock producers will get extra time to apply for, make changes to or cancel coverage under the provincial Risk Management Program (RMP). Agricorp, the province’s ag program delivery agency, announced Wednesday the new deadline for applications or coverage changes for 2020 will be June 30. The previous deadlines to apply or […] Read more
Strong demand supports sunflowers
Reading Time: < 1 minute MarketsFarm — Global demand for sunflower oil is steadily increasing, according to Scoular’s Robert Deraas. Deraas, director of the Scoular Co.’s sunflower and bird food division, explained Wednesday at CropConnect in Winnipeg that the majority of Canadian sunflowers are grown for oil purposes. Increases in demand are driven largely by health-conscious consumers who use sunflower […] Read more
U.S. grains: Soybeans, wheat fall as coronavirus spreads
Reading Time: 2 minutes Chicago | Reuters — Chicago Board of Trade soybean futures fell on Friday, their ninth straight day of losses, as concerns about the coronavirus cutting into Chinese demand beat back any attempts at a bargain-buying bounce, traders said. The losing streak marks the longest for the most-active soybean futures contract since a 10-day stretch that […] Read more
Canadian canola crush sets new monthly record
Reading Time: < 1 minute MarketsFarm — Canadian oilseed crushers set a new monthly record for processing canola in December 2019, crushing 899,301 tonnes of the crop during the month, according to the latest data from Statistics Canada. The crush pace was up by 70,000 tonnes from November and compares with the previous record of 882,301 tonnes, set just two […] Read more
A message from April Stewart, Country Guide's Associate Editor
