Speculative fund traders have moved to a net short position in canola futures for the first time in five months, according to the latest Commitments of Traders report from the United States Commodity Futures Trading Commission (CFTC).
Fund traders flip to net short in canola futures
Alberta harvest just ahead of average pace
The harvesting of all crops in Alberta reached 42 per cent complete as of Sept. 9, compared to the five-year average of 40 per cent. The provincial agriculture department noted combing was highlighted by little or no rain.
ICE canola weekly outlook: Rangebound market looking for direction
ICE canola futures recovered off five-month lows over the week ended Sept. 10, but were lacking any clear direction as the harvest picks up across Western Canada and trade uncertainty with China persisted.
Manitoba farmers focused on harvesting
Combining in Manitoba advanced 11 points during the week ended Sept. 9, which brought the harvest to 40 per cent complete provincewide, Manitoba Agriculture reported.
StatCan stocks report sees drops in canola, wheat
Ending stocks of canola and wheat contracted significantly on the year, Statistics Canada said in its grains stocks report released on Sept. 9.
Canola groups disappointed in Carney’s plan to help growers, biofuel
‘Farmers should not be expected to borrow’
Two national canola organizations said they’re not pleased with the federal government’s announcement on helping canola growers and the biofuel industry. The Canola Council of Canada and the Canadian Canola Growers Association expressed their disappointment in a Sept. 5 news release.
Good weather for Alberta harvest
Heat, dryness take a toll on moisture levels
With hot and dry conditions the Alberta harvest is now in full swing, advancing 14 points to 22 per cent complete, the provincial agriculture department reported on Sept. 5. Combining was one point up compared to its five-average.
Government to invest in biofuel production
Carney announces $370 million to biofuel production
The federal government will invest $370 million in a new biofuel production incentive.
Saskatchewan harvest advances, but behind five-year pace
Lack of rain spurs progress
Saskatchewan farmers advanced their harvest 11 points during the week ended Sept. 1, bringing it to 23 per cent complete. However, that’s still 17 points behind the five-year average despite dry conditions throughout most of the province.
ICE Canada Weekly: Canola looking at C$580
‘Lack of bullishness’ says trader
Without the Chinese market, it’s only a matter of time before canola futures are poised to break below C$600 per tonne in its November contract, said Phil Speiss, trader with RBC Dominion Securities in Winnipeg.
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