MarketsFarm — ICE canola futures climbed to fresh contract highs during the week ended Wednesday, as activity in outside markets and canola’s own tight supply situation provided support. “Outside forces help it, but there are also things unique to the canola market that are supportive,” said David Derwin, commodities investment advisor with PI Financial in […] Read more
ICE weekly outlook: Canola finding plenty of support
Despite the conditions, canola trials went ahead last year
The results from the 2021 Canola Performance Trials are now available, along with past results
Reading Time: 2 minutes It wasn’t a great year for putting top canola varieties through their paces, but the results of the 2021 Canola Performance Trials are in and now available at canolaperformancetrials.ca. The trials “represent the next generation in variety evaluation for western Canadian canola growers,” states the website. The initiative, funded by Alberta Canola and its sister […] Read more
Richardson crush plant staff ward off strike vote
Unionized staff at Lethbridge vote to ratify new contract
Unionized staff at Richardson International’s canola crush plant at Lethbridge have voted for six years’ labour peace rather than proceeding toward a strike vote. The 140-odd workers, represented by United Food and Commercial Workers (UFCW) Local 401, voted Feb. 1-2 on a new proposal from the company after voting 79 per cent in December to […] Read more
ICE weekly outlook: Rangebound canola market consolidating
MarketsFarm — ICE Futures canola contracts moved lower during the week ended Wednesday before uncovering some support, as the commodity remained stuck in a range after trending higher for most of the past year. “Canola is caught in a rangebound, consolidation phase,” said MarketsFarm Pro analyst Mike Jubinville. The relative stability in canola, he said, […] Read more
Chevraux new chair of Alberta Canola
Reading Time: < 1 minute Alberta Canola has a new chair, vice-chair and one director — but still has two spots to fill on its 12-person board. Roger Chevraux of Killam is the new chair and his vice-chair role is now being filled by Ian Chitwood of Airdrie. As well, Charles Simoneau from Guy steps on to the board as […] Read more
ICE weekly outlook: No independent strength left in canola
MarketsFarm — At a little more than halfway through the 2021-22 marketing year for canola, a trader asserted the Canadian oilseed now lacks the ability to move independently. Rather, it will follow the ups and downs in oil and meal markets. “[Canola] did its thing months ago,” trader Ken Ball of PI Financial in Winnipeg […] Read more
ICE weekly outlook: Canola moving back in line with soybeans
MarketsFarm — ICE Futures canola contracts moved higher during the week ended Wednesday, but lagged the Chicago Board of Trade soy complex to the upside as the spreads between the two markets saw some readjustment. “If you had bought 100 tonnes of March canola on Dec. 21 you’d be up about $10 per tonne right […] Read more
Richardson crush plant workers to vote on new offer
UFCW team endorses latest offer
Unionized workers at Richardson International’s oilseed crush plant at Lethbridge, Alta. will vote Tuesday and Wednesday on a new offer from the company after rejecting a previous proposal. United Food and Commercial Workers (UFCW) Local 401 announced Tuesday (Jan. 25) its negotiating committee “fully endorses” the new offer after the company’s Richardson Oilseed division “enhanced […] Read more
ICE weekly outlook: Canola in stratosphere as old-, new-crop gaps narrows
MarketsFarm — With so many influences affecting ICE Futures canola, one trader said it’s hard to figure just where the Canadian oilseed will go. Another trader, however, said the days of canola fetching more than $1,000 per tonne for an extended period of time are pretty much over. “It’s probably the craziest period we ever […] Read more
ICE weekly outlook: Choppy canola trade expected
Old-crop 'likely pushing the upper limits'
MarketsFarm — A speculative selloff weighed heavily on the ICE Futures canola market during the week ended Wednesday, before the selling subsided and prices regained much of their lost ground. “For prices this high, that’s pretty routine stuff,” said Ken Ball of PI Financial in Winnipeg on the $80 per tonne drop in the nearby […] Read more
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