MarketsFarm — Expect the canola market, along with other grains and oilseeds, to remain volatile for the time being, said David Derwin of PI Financial in Winnipeg. “A lot of the markets right now are extremely erratic because of the coronavirus. I think it’s being blown out of proportion, but it is what it is,” […] Read more
ICE weekly outlook: In canola, volatility is order of the day, for now
Fund traders still bearish on canola
MarketsFarm — Fund traders remained heavily on the short side in canola futures during the week ended Tuesday, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). The net managed money short position in ICE Futures canola came in Tuesday at 62,709 contracts (1,100 long/73,809 short), which […] Read more
Confusing canola council tweet ‘bugs’ farmers
Tweet suggested council and Ducks Unlimited were partnering in agronomy project on beneficial insects
Reading Time: 3 minutes A tweet that suggested the Canola Council of Canada and Ducks Unlimited Canada were working together on an agronomy project prompted a firestorm of angry comments. The tweet, posted on Feb. 1, was about a project on beneficial insects in wetlands, shelterbelts, and other insect habitats. The idea of the canola council and Ducks Unlimited […] Read more
ICE weekly outlook: New lows in, but canola stabilizing
MarketsFarm — The ICE Futures canola market dropped to fresh contract lows on Tuesday but managed to find some support to the downside and may stabilize for the time being amid oversold price sentiment. The May canola contract, which had started 2020 trading in the $490 area, touched a low of $455 per tonne on […] Read more
Coronavirus stalls talks with China on canola ban
Officials 'not in position to pursue technical discussions,' Bibeau says
Ottawa | Reuters — The coronavirus outbreak has stalled talks between Canada and China about Beijing’s decision to block Canadian canola seed shipments, Agriculture Minister Marie-Claude Bibeau said Friday. China, angry at Canada’s detention of a top Huawei Technologies executive in December 2018, blocked all imports of canola seed last March on the grounds they […] Read more
Fund traders still bearish on canola
MarketsFarm — Large fund traders covered short positions in soybeans and corn during the week ended Tuesday, but continued to add to bearish bets in canola, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). The net managed money short position in ICE Futures canola came in […] Read more
ICE weekly outlook: Canola values stuck in a range
MarketsFarm — Canola prices came off of the long weekend in the green, but quickly gave back those gains at midweek, remaining stagnant and rangebound. While rail blockades across the country have hampered rail activity and backed up grain shipments, cold weather has slowed down farmer movement for canola. That has insulated canola prices from […] Read more
Canola supplies in commercial pipeline hit fresh high
MarketsFarm — Visible canola supplies in the commercial pipeline hit their highest level in more than three years in the latest Canadian Grain Commission data, with the slow pace of export movement likely to keep those stocks at burdensome levels. Total visible Canadian canola supplies as of Sunday were pegged at 1.6 million tonnes. That’s […] Read more
Tax credit available for canola checkoffs
Reading Time: < 1 minute Canola growers who haven’t requested a refund of their checkoff from the Alberta Canola Producers Commission qualify for a tax credit. The Scientific Research and Experimental Development (SR&ED) tax credit allows canola growers to claim the credit for the portion of the checkoff paid that was used to fund qualifying research. “Farmers are funding research […] Read more
Don’t expect a quick fix for China’s ban on Canadian canola
China expert says Beijing’s retaliation against Canada has ‘the personal imprint of the Chinese president’
Reading Time: 3 minutes An easy or fast solution to the Chinese defacto ban on canola is unlikely, says a China expert. “China doesn’t yield to simple analysis,” Gordon Houlden, a political science professor and director of the China Institute at the University of Alberta, told FarmTech attendees. The detention of Huawei executive Meng Wangzhou on an extradition warrant […] Read more
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