Reading Time: < 1 minute MarketsFarm — As Malaysian palm oil continues to increase in price due a shortage, it has led to a rally in canola on ICE Futures, said Wayne Palmer of Exceed Grain in Winnipeg. The shortage stems from dry conditions in Indonesia and Malaysia, the world’s top two palm oil producers. While the dryness has been […] Read more
ICE weekly outlook: Palm oil shortage leads to canola rally
ICE weekly outlook: Canola waits on trade talks, USDA reports
Reading Time: 2 minutes ICE canola futures are quiet at the end of January, but could see some movement from outside influences in the coming weeks, according to Exceed Grain senior marketing analyst Wayne Palmer. “Everybody is waiting to see what’s going to happen with the Chinese/United States (trade) talks,” he said. Two days of high-level trade negotiations between […] Read more
ICE weekly outlook: Canola at mercy of U.S. soy
Reading Time: 2 minutes CNS Canada — The ICE canola market is currently at the mercy of the soybean market as it awaits this week’s G20 meeting between Chinese President Xi Jinping and U.S. President Donald Trump. “We’ve got the big pop in the soybeans in anticipation of some positive developments at this weekend’s G20 meetings… we are getting […] Read more
ICE weekly outlook: Soyoil, not weather, main influence on canola
Reading Time: < 1 minute CNS Canada — Wet and snowy weather now plaguing the Prairies isn’t to blame for the canola market’s recent upswing, according to one trader. “Canola’s been firm but it really hasn’t shown any reaction whatsoever to the weather; it’s going up because bean oil’s going up and it’s lagging the bean oil gains by quite […] Read more
Argentina’s grain exports halt in strike against Macri
Reading Time: < 1 minute Buenos Aires | Argentina — A strike called by Argentina’s largest trade union federation in protest over President Mauricio Macri’s market-friendly economic policies brought the country to a standstill on Monday, freezing grains exports and halting banking and public transit. The CGT umbrella labour union demanded wage hikes to keep up with inflation rates running […] Read more
CBOT weekly outlook: Soybeans wade through turbulent trade waters
Reading Time: 2 minutes CNS Canada — Soybean futures on the Chicago Board of Trade suffered sharp losses Wednesday after China said it would slap a 25 per cent tariff on soybean imports in retaliation for U.S. sanctions that had been placed on it. The dominant May contract plummeted 55 cents to $9.83 a bushel, before bargain-hunters stepped in […] Read more
ICE weekly outlook: Canola creeps toward $500
Reading Time: < 1 minute CNS Canada — ICE Futures Canada canola contracts are showing signs of wanting to climb higher due to recent moves in soybean oil and the Canadian dollar. The front-month March contract is still below the benchmark $500 per tonne mark but is starting to creep toward it. Some of the movement can likely be traced […] Read more
ICE weekly outlook: Sideways canola looks for direction
Reading Time: < 1 minute CNS Canada — ICE Futures Canada canola contracts remain stuck in a sideways trading pattern, with little hint of which way values will eventually break. Canola “is getting tugged from different sources,” said Ken Ball of PI Financial in Winnipeg, adding that “it could go up or down $5 depending on what happens around it.” […] Read more
U.S. grains: Soybeans, meal rise on Argentina weather
Reading Time: 2 minutes Chicago | Reuters — U.S. soybean futures rose to a three-week high on Monday and soymeal jumped more than two per cent on buying backed by concerns that dry weather in Argentina will hurt crop yields. Corn futures fell more than one per cent, reversing early gains after technical selling, while wheat futures also eased […] Read more
ICE weekly outlook: Canola looks to soyoil wildcard
Reading Time: < 1 minute CNS Canada –– ICE Futures Canada canola bounced around within a rather wide range over the course of the week ended Wednesday, but could head higher if it gets help from U.S. soyoil. “The wildcard here is the (soy)bean oil market,” said Ken Ball of PI Financial in Winnipeg. While Chicago Board of Trade soyoil […] Read more
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