CNS Canada — ICE Futures Canada canola contracts moved lower during the week ended Wednesday, as bearish technical signals, declines in the outside crude oil market and losses in CBOT soybeans weighed on values. While a short-covering correction is possible in the near-term, the longer-term direction will continue to be dictated by soybeans. The nearby […] Read more
ICE weekly outlook: Canola looking bearish with soybeans
Sudden rise in cases of heated canola
Temperature cables are a good way to discover if your bin is at risk
Reading Time: 2 minutes Canola delivery points report a spike in heated canola over the past couple weeks. Crushers have capacity to accommodate a certain amount of mildly heated canola, but some locations are maxed out and have pushed back delivery of heated canola well into the new year — given the sudden increase in volume. Growers are encouraged […] Read more
Prairie farmers reluctant to sell into canola cash market
CNS Canada –– Prairie farmers are reluctant to sell into canola cash markets, in turn supporting basis levels recently as buyers have to work to entice farmer selling. “I think farmers are patient; they are not selling this market when you see minor dips,” said Jerry Klassen, manager for Swiss-based GAP SA Grains and Products […] Read more
ICE weekly outlook: Canola to hit major resistance at C$440
CNS Canada — Canola futures were holding relatively steady during the week ended Wednesday, and are expected to continue in a rangebound pattern this winter. The March future is likely to find major resistance at the $440 per tonne level over the next month or so, said Jerry Klassen, manager for Swiss-based GAP SA Grains […] Read more
Condo seller to tap China’s edible oil demand
Winnipeg | Reuters — A Canadian company better known for selling condominiums has walked into a $1 billion deal to ship edible oil to China as consumer demand there overtakes domestic supplies. Fengguan Edible Oil Ltd. Co., a Chinese producer of oil from rapeseed, contacted Toronto-based LeMine Investment Group this year about securing canola oil, […] Read more
Dreyfus unsure when Sask. canola plant will reopen
CNS Canada –– A month after an explosion crippled the Louis Dreyfus Commodities canola crushing plant at Yorkton, Sask., it’s still unclear when operations will resume. LDC Canada’s vice-president Brian Conn issued a statement Tuesday outlining its “preliminary assessment” of the situation. While the investigation is ongoing, Dreyfus’ assessment so far indicates the Oct. 24 […] Read more
Steadier demand sought in China for Canadian canola
CNS Canada — Chinese demand for Canada’s canola and canola oil remains a key driver for the Canadian industry — but China has been an inconsistent customer in the past, which makes developing ongoing relationships important. China in 2013-14 imported 3.9 million tonnes of Canadian canola, accounting for almost half of Canada’s total exports during […] Read more
ICE weekly outlook: Canola feeling soy pressure
CNS Canada –– ICE Futures canola contracts were mixed during the week ended Wednesday, with the most-active January contract feeling pressure from declines in the U.S. soy complex. With the harvest over and no major reports scheduled within the next seven days, it is difficult to see canola breaking very far one way or the […] Read more
BASF moves Clearfield system to open-ended agreements
Farmers wanting to grow Clearfield canola, wheat, sunflowers or lentils will now only need to sign one agreement to use the herbicide-tolerant crop system, rather than sign up every year or every few years. BASF, developer of the Clearfield Production System, on Monday announced a new “evergreen,” or open-ended, version of its Clearfield Commitment, available […] Read more
Condo developer to ship canola oil to China, Canada says
Winnipeg | Reuters — A condominium developer has signed a $1 billion deal to export Canadian canola oil to China, according to the Canadian government. The deal was one of more than 20 commercial agreements signed during Prime Minister Stephen Harper’s visit to China, which wrapped up this week. The government said on its website […] Read more