Winnipeg/New York | Reuters — U.S. oil refineries are moving aggressively to produce renewable diesel, partly to cash in on Canada’s greener fuel standard before Canadian refiners modify their own plants. Canadian Prime Minister Justin Trudeau’s government intends to present its Clean Fuel Standard this year, aiming to cut 30 million tonnes of emissions by […] Read more
U.S. oil refiners press on renewable diesel for Canadian market
Few such projects seen moving forward within Canada
Wheat, canola exports ahead of year-ago pace
MarketsFarm — Canadian grain and oilseed exports are running well ahead of the year-ago level eight weeks into the 2020-21 marketing year, according to the latest data from the Canadian Grain Commission. Total bulk exports of the major grains and oilseeds, as of Sunday, of 7.17 million tonnes compare with the six million exported during […] Read more
Funds still holding large net long position in canola
MarketsFarm — Funds’ net long position in canola remained large during the week ended Tuesday, with only small adjustments in the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). Managed money fund traders, as of Tuesday, were holding a net long position in ICE Futures canola of 56,913 contracts […] Read more
ICE weekly outlook: Canola rebounds on U.S. futures support
MarketsFarm — After a week of steady losses canola prices surged back Wednesday, catching ample spillover support from the Chicago Board of Trade (CBOT). That support in turn was derived from two new reports from the U.S. Department of Agriculture (USDA). The report on grain stocks as of Sept. 1 noted declines in wheat, corn […] Read more
ICE weekly outlook: Canola backs off two-year highs
MarketsFarm — ICE Futures canola contracts have shown weakness in recent trading sessions, after hitting two-year highs last week. The November canola contract, which closed Sept. 16 at $530.20 per tonne, has since lost over $10, closing Wednesday at $519.60. “Last week when canola moved up very strongly, it just sort of got ahead of […] Read more
Funds’ net long keeps growing in canola
MarketsFarm — The fund net long position in canola continued to climb higher during the week ended Tuesday, as speculators continued to add to their bullish bets in the market, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). Managed money fund traders, as of Tuesday, were […] Read more
ICE weekly outlook: Canola futures at two-year highs
MarketsFarm — ICE Futures canola contracts climbed to their strongest levels in two years during the week ended Wednesday, but could be nearing their highs for the time being as harvest pressure should start weighing on values. “We’re running into the top end on the monthly and weekly charts,” said Jamie Wilton, senior commodity futures […] Read more
Fund long position in canola hits new record
MarketsFarm — Fund traders added to their sizeable long positions in canola during the week ended Tuesday (Sept. 8), hitting the largest net long position in the two years of available data. The latest commitment of traders (CoT) report compiled by the U.S. Commodity Futures Trading Commission (CFTC) showed managed money fund traders were holding […] Read more
Alberta Canola seeking directors for four regions
Reading Time: < 1 minute The Alberta Canola Producers Commission is seeking four canola growers to serve on the board of directors for a three-year term. This year, directors are needed in Regions 2, 5, 8, 10. Alberta Canola divides Alberta into 12 regions, with each region electing a producer director to represent the canola growers within that region. (Visit […] Read more
ICE weekly outlook: Canola shows volatility after long weekend
MarketsFarm — Although there remains a lot of canola to be combined, one trader believes most harvest pressure on the market has already passed. “The farmers who wanted to sell off of the combine or shortly after, probably have done so already,” said Jerry Klassen, an independent Winnipeg commodities trader. There will still be some […] Read more
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