Reading Time: < 1 minute MarketsFarm — Canola contracts have stayed locked in a pattern for the past few trading sessions, with the July contract posting small gains and new crop year contracts showing losses. That’s mainly due to traders positioning ahead of July’s expiry date. “It’s not uncommon for the July expiry to see some spreads swing around,” said […] Read more
ICE weekly outlook: Canola mixed at midweek
ICE weekly outlook: Canola steady at midweek
Spring seeding more or less underway
Reading Time: < 1 minute MarketsFarm — After showing considerable strength in prior trading sessions, canola contracts were either side of unchanged at midweek. David Derwin of P.I. Financial in Winnipeg said canola was holding steady in comparison to other vegetable oils. “There’s general weakness in other markets, but canola hasn’t had too much of a move,” he said. Considerable […] Read more
ICE weekly outlook: Canola acres could be in flux
Reading Time: < 1 minute MarketsFarm — Canada’s canola acres are generally expected to be higher in the first area report of the year from Statistics Canada, compared to the 20.96 million acres estimated to have been seeded in 2019. Estimates are wide-ranging, with some analysts predicting a slight reduction in canola area and others calling for an increase of […] Read more
ICE weekly outlook: Canola gains strength at midweek
Reading Time: < 1 minute MarketsFarm — After showing considerable weakness in prior trading sessions, canola contracts tried to regain some ground at midweek. Ken Ball of P.I. Financial in Winnipeg said canola was oversold due to bearish sentiments from outside markets earlier in the week, but prices were steadily bouncing back. Nearby ICE Futures canola was down Monday by […] Read more
ICE weekly outlook: Canola loses strength at midweek
Reading Time: < 1 minute MarketsFarm — ICE Futures canola contracts succumbed to pressure from comparable vegetable oils at midweek, after showing strength earlier in the week. Ken Ball of P.I. Financial said lower soyoil values put canola “under tremendous pressure.” Nearby soyoil contracts were down by about a penny on Wednesday. Earlier in the week, rumours swirled regarding the […] Read more
U.S. grains: Corn, soy, wheat book multi-month lows
Financial markets continue to drag commodities lower
Reading Time: 2 minutes Chicago | Reuters — U.S. grain and soybean futures sank to multi-month lows on Monday on worries about the coronavirus pandemic denting the global economy and chilling end-user demand for commodities, traders said. “The fear is still that it will only get worse as the week unfolds,” said Mark Schultz, chief analyst at Northstar Commodity […] Read more
ICE weekly outlook: Volatility hampers canola
Reading Time: < 1 minute MarketsFarm — Canola values have been at the mercy of volatile financial markets this week, trading in lockstep with headlines of plummeting crude oil values and stock indices. “We’re getting into a bit of a pattern in the markets,” Ken Ball of P.I. Financial in Winnipeg said, explaining that prices will show some strength, then […] Read more
Argentina to raise soy export taxes to 33 per cent from 30
Reading Time: < 1 minute Buenos Aires | Reuters — Argentina plans to raise taxes on soybean, soyoil and soymeal exports to 33 per cent from the current 30, the agriculture ministry said on Tuesday, as the government moves to increase revenue ahead of a planned sovereign bond restructuring. Ministry officials met with farm groups during the day to discuss […] Read more
U.S. grains: Soybeans rise for third session
Reading Time: 2 minutes Chicago | Reuters — U.S. soybean futures rose modestly on Wednesday as strength from global equity markets and soyoil futures offset worries about export demand for U.S. oilseeds, traders said. Wheat futures firmed on technical buying. But corn drifted lower in rangebound trade as uncertainty about demand hung over the market. Chicago Board of Trade […] Read more
ICE weekly outlook: Canola off highs, rangebound
Reading Time: < 1 minute MarketsFarm — ICE Futures canola contracts tested long-time chart resistance during the week ended Wednesday, but failed to break higher and retreated to hold rangebound overall. The Phase One trade deal signed Wednesday between the U.S. and China failed to give the grain and oilseed markets a boost, as the vague details of the actual […] Read more
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