CNS Canada –– ICE Futures Canada canola contracts moved higher during the week ended Wednesday and may have more room to the upside, provided the market continues to see a boost from the U.S. soy complex. “Right now, this market does not want to go down,” said senior analyst Wayne Palmer of Agri-Trend Marketing, on […] Read more
ICE weekly outlook: Canola gains depend on soybeans
ICE weekly outlook: Canola prices winding down
CNS Canada — ICE Futures Canada canola markets were mixed in the week ended Wednesday, and as grower interest in selling ramps up, prices are likely to edge down. “Canola has been pushed up to some moderately high levels, and it’s been justified in being up there,” said Ken Ball of PI Financial Corp. “But […] Read more
Cleavers not threatening exports, Canola Council says
CNS Canada — Suggestions that canola shipments to China could be in jeopardy because of concerns over herbicide-resistant weeds are being refuted by the Canola Council of Canada. Great Northern Growers Inc., an agriculture service business in Saskatoon that sells herbicides and other products, said it has heard China doesn’t want pesticide-resistant weeds coming into […] Read more
Canola crush margins at best levels of year
CNS Canada — Canola crush margins have improved considerably over the past few weeks, to sit at some of their best levels of the past year. Crush margins provide an indication of the profitability of the product values relative to the seed cost when processing canola, with exchange rates also factoring into the equation. As […] Read more
ICE weekly outlook: Canola looks set to stay above $500
CNS Canada — ICE Futures Canada canola contracts don’t appear to be in much danger of falling below the $500 per tonne level anytime soon. Both front-month contracts spent much of the week ended Wednesday hanging around the $520 mark. Surging action from the U.S. soy complex has kept canola supported, even on days when […] Read more
Newfoundland’s first canola field seeded
Provincial crop researchers in Newfoundland and Labrador have scored a first for the province this spring by seeding its first-ever canola field. Dignitaries including Premier Dwight Ball and Christopher Mitchelmore, the minister responsible for the provincial Forestry and Agrifoods Agency, attended the seeding Friday near Pasadena, about 30 km east of Corner Brook. Agency researchers and […] Read more
Prairie canola weathers early frost test
CNS Canada –– Despite freezing temperatures in some parts of Western Canada over the past few days, canola appears to be relatively healthy, according to crop watchers. While the true extent of freezing mornings that started last Thursday and stretched into the weekend isn’t yet completely known, two agronomy specialists from the Canola Council of […] Read more
ICE weekly outlook: Canola’s fate rests on fund buying
CNS Canada — ICE Futures Canada canola contracts moved higher during the week ended Wednesday, following strength in CBOT (Chicago Board of Trade) soybeans, but one analyst says it could be hard for the market to hold onto those advances. CBOT soybeans rallied Tuesday after the U.S. Department of Agriculture released bullish supply and demand […] Read more
Bullish canola futures hit new highs
CNS Canada –– Both old- and new-crop canola contracts traded on the ICE Futures Canada platform climbed to new highs on Tuesday, with a bullish reaction to U.S. supply/demand data providing the catalyst for the rally. The most active July futures touched a session high of $544.60 per tonne, before settling Tuesday at $532.30. The […] Read more
Canola to get early test as Prairies brace for frost
CNS Canada — Overnight lows of -2 or -3 C are expected across much of Saskatchewan by Wednesday or Thursday, according to Environment Canada forecasts. The colder temperatures are expected to make their way into Manitoba by Friday. That could put some stress on canola plants that have already emerged, according to industry watchers. “As […] Read more