ICE Futures canola fell from contract highs as summer officially began and wild swings in outside markets weighed on values. However, support held to the downside and the uptrend remained intact ahead of a pair of key reports that could provide some nearby direction.
ICE canola weekly outlook: Uptrend intact despite selloff
Nov canola holds above 20-day moving average
AAFC makes more adjustments to canola numbers
Also changes dry pea data
With exports of Canadian canola still going strong in 2024/25, Agriculture and Agri-Food Canada readjusted its estimates in its June supply and demand report.
Indian rapeseed meal exports soar as China replaces Canadian canola supply
China placed Canadian canola oil, meal under a 100 per cent tariff in March
China is set to make record purchases of rapeseed meal from India following Beijing's move to impose a 100 per cent retaliatory tariff on Canadian canola imports, senior industry officials said.
ICE Canada Weekly: Canola poised to rise or fall
Weather, China could guide oilseed’s trajectory
Canola prices could shift up or down in the coming weeks due to uncertainty, said Jerry Klassen, analyst with Resilient Capital in Winnipeg
Varied rains leave parts of Manitoba in need of moisture: report
Planting 100 per cent complete
Varied rainfall across Manitoba left many areas of the province still in need of precipitation, with accumulations at 60 per cent of normal in eastern, Interlake and northwestern regions, reported Manitoba Agriculture in its latest weekly crop report.
U.S. Senate bill would shrink tax credit for biofuels made from foreign feedstocks
U.S. Senate Republicans on Monday proposed a tax bill that would extend a clean fuel tax credit through 2031, but trim 20 per cent of the value of the credit for biofuels made from feedstocks produced outside of the United States.
USDA adjusts Canadian canola exports, ending stocks
Data varies from AAFC numbers
There were some notable changes to Canadian canola made in the United States Department of Agriculture world oilseed report issued on June 12. The USDA increased its call on 2024/25 canola exports and trimmed those for 2025/26, and reduced carryout projections for both marketing years.
Sporadic rains lead to varied crop development in Saskatchewan
Seeding 100 per cent complete
Rains were welcome across much of Saskatchewan during the week ended June 9, but topsoil moisture levels declined and crop damage was a concern in areas that missed out on the precipitation, said the latest provincial crop report.
ICE Weekly: Low stocks, dry weather raising canola prices
Upcoming rains could pull prices back
Canola prices were on the rise for the week ended June 11 as depleted stocks and dry weather gave the markets a lift.
Manitoba crops 99 per cent planted
Five points ahead of average
Seeding operations across Manitoba largely wrapped up during the week ended June 10, with 99 per cent of intended acres in the ground, according to the latest provincial crop report. That was up four points from the previous week and compares with the five-year average of 94 per cent done.
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