Reading Time: < 1 minute CNS Canada — ICE Futures Canada canola contracts fell to their lowest levels in a month earlier this week, but appear to have found some support from a chart standpoint. Solid demand on the one hand is being countered by large supplies on the other. “The demand component is powerfully strong,” said Mike Jubinville of […] Read more
ICE weekly outlook: Big canola supply counters big demand
ICE weekly outlook: Canola futures wait on report
Reading Time: < 1 minute CNS Canada — ICE Futures Canada canola traders may already be looking ahead to the release of Statistics Canada’s next production estimates, as lacklustre trading amid the holiday season leaves investors searching for direction. StatsCan is scheduled to release its final principal field crop report of the year on Dec. 6. The report is usually […] Read more
StatsCan to add marijuana economic impact to GDP data
Reading Time: < 1 minute Ottawa | Reuters — As Canada gears up to legalize recreational marijuana, the country’s statistics agency said on Tuesday it will begin measuring the economic impact of the current illegal use and production of the drug and add it to growth data. Statistics Canada said it will begin tallying the production and sale of cannabis […] Read more
Speculative buying sees canola prices firm up
Reading Time: 2 minutes Winnipeg | CNS Canada – ICE Canada canola prices bounced around within a wide range during the week ended November 17, but finished on a firmer note as a rally in Chicago Board of Trade soybeans gave canola a boost. Any strength was largely tied to chart-based speculative buying, with no real fresh fundamental news […] Read more
Feed barley market firms with weak production numbers
Reading Time: 2 minutes CNS Canada — A 16.8 per cent drop in the size of Canada’s barley crop has given feed barley prices some support, according to an industry-watcher in Alberta. “The market is looking fairly strong,” said Allan Pirness of Market Place Commodities in Lethbridge. “It’s made things a little firmer for new-crop feed grain.” Wet weather […] Read more
StatsCan’s model-based estimates confirm larger crops
Reading Time: 2 minutes CNS Canada — Canadian canola and wheat production likely ended up larger than earlier estimates, according to computer model-based data released Tuesday by Statistics Canada. The model-based estimates are calculated by incorporating satellite data, agro-climate data, and Statistics Canada’s field crop reporting data. The numbers compare with the survey of farmers released Aug. 31. Total […] Read more
Lower Prairie flax production, decent quality expected
Reading Time: 2 minutes CNS Canada — What’s really happening with this year’s flax crop is going to be revealed in the next few weeks as farmers get into their fields. Statistics Canada predicted in a production report, released Aug. 31, that both Saskatchewan’s and Canada’s flax production this year would be 13.7 per cent less than in 2016. […] Read more
Traders look to new crop following StatsCan stocks estimates
Reading Time: 2 minutes CNS Canada — Canadian canola stocks were relatively tight at the close of the 2016-17 crop year, which should be underpinning the market as the trade works to get a better handle on new-crop production. In a report released Wednesday, Statistics Canada pegged Canadian canola supplies as of July 31 at 1.35 million tonnes, compared […] Read more
ICE weekly outlook: Canola rises, post-report
Reading Time: 2 minutes CNS Canada — It was an eventful week for the ICE Futures Canada canola market as many in the trade were preparing for the release of Statistics Canada’s crop production report on Thursday. While the report is always taken lightly because it relies on month-old data, it still gives participants some sense of how the […] Read more
Year-ago Canadian canola crop revised higher
Reading Time: 2 minutes CNS Canada — Canada’s 2016 canola crop has been revised higher in Statistics Canada’s first production estimates for 2017, released Thursday. StatsCan raised the 2016-17 production number from 18.4 million tonnes to 19.6 million, and pegged the 2017 crop at 18.2 million tonnes, which was somewhere in the middle of trade estimates. “I think there’s […] Read more
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