The fate of Winnipeg pea- and canola-based protein processor Merit Functional Foods won’t be confirmed until the end of April at the earliest. Merit, whose major shareholders include Vancouver plant-based protein firm Burcon NutraScience, U.S. agrifood firm Bunge and former executives of Hemp Oil Canada, was placed into receivership March 1. According to the first […] Read more
Bidding open for Merit Foods for two more weeks
Stakeholder Burcon plans to put up 'compelling bid'
Farmers worried emissions targets will become mandatory
Ag minister vows they won’t but AgCanada survey finds producers remain ‘very concerned’
Reading Time: 3 minutes Farmers remain concerned about federal emissions reduction targets and whether they’ll remain voluntary. Lots of producers are worried about Ottawa’s goal of reducing fertilizer-related greenhouse gas emissions by 30 per cent by 2030, and that’s reflected in the “What We Heard” report recently issued by Agriculture and Agri-Food Canada, said Shannon Sereda, senior manager of government […] Read more
Canola short position finally subsiding
CBOT wheat, corn also net short
MarketsFarm — After hitting the largest speculative short position in canola on record, managed money fund traders were finally covering those bearish bets in late March, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As of March 28, the net managed money short position in canola futures […] Read more
Palliser Triangle: It’s hot and dry — and the next frontier for canola
With crush capacity soaring, canola council looks to the brown soil zone
Reading Time: 4 minutes The canola industry has its eyes on the Prairies’ most inhospitable regions and knows potential growers will need support. The Canola Council of Canada is setting up research it hopes will drive sustainable canola growth in the brown soil zones of the Palliser Triangle, one of the hottest, driest regions of the Prairies. With canola […] Read more
ICE weekly outlook: Not a matter of when, but where canola peaks
Prevailing trend remains downward
MarketsFarm — As the rally in canola on ICE Futures continued Wednesday, an analyst stressed it’s not when this upswing ends, but where. David Derwin of PI Financial in Winnipeg spoke of when canola prices were falling, and they broke through that psychological barrier of $800 per tonne on their way down. “That was the […] Read more
It’s time to order your Blue Book
Reading Time: < 1 minute Four of Alberta’s crop commissions — Alberta Barley, Alberta Canola, Alberta Pulse Growers, and the Alberta Wheat Commission — have launched the 2023 advance ordering system for Alberta’s Crop Protection Guide, otherwise known as the Blue Book. Alberta farmers, agronomists and agriculture retailers can get ahead of the busy growing season by placing their 2023 […] Read more
Canola fund short position still rising
Managed money net long in soybeans
MarketsFarm — The size of the fund short position in continued to rise in early March, according to the latest Commitments of Traders data out from the U.S. Commodity Futures Trading Commission (CFTC). As of March 7, the net managed money short position in canola came in at 46,222 contracts (61,998 short/15,776 long), an increase […] Read more
ICE weekly outlook: Canola continues its collapse
Limited demand, more farmer selling seen
MarketsFarm — After losing $62 per tonne the week before, the May contract on the ICE Futures canola market extended its losses for the week ended Wednesday with little relief on the horizon. Winnipeg-based trader Jerry Klassen of Resilient Commodity Analysis said the massive selloff is the result of farmers realizing there wouldn’t be a […] Read more
ICE weekly outlook: No floor in sight for overdone canola
'A lot of money playing around in canola right now'
MarketsFarm — The ICE Futures canola market was in freefall mode through the first half of March, hitting its weakest levels in over a year. While the losses may be looking overdone, the bottom remains to be seen. “This has been a brutal drop in canola,” said Bruce Burnett, director of markets and weather with […] Read more
Canola crush of 2022 smallest in five years
Meanwhile, soybean crush rose on the year
MarketsFarm — Statistics Canada (StatCan) reported that 2022 had the smallest domestic canola crush for a calendar year since 2017. As well, 2022 marked the smallest canola oil production in five years and the least amount of canola meal produced in four years. The sharp reduction of canola being crushed was due to the 2021 […] Read more
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