MarketsFarm — With canola now near the top end of its range, prices could break out of being rangebound in the next several days, according to an analyst. Canola has made gains over the last month or so, largely due to spillover from increasing prices for soyoil on the Chicago Board of Trade. Soyoil has […] Read more
ICE weekly outlook: Canola could break out of range
Canadian canola crush up 8.5 per cent on year-to-date
MarketsFarm – Canada’s canola crush is running well ahead of the year ago pace, according to the latest data from Statistics Canada. Four months into the 2019/20 marketing year, which began Aug. 1, more than 3.3 million tonnes of canola have been crushed, according to the report released Dec. 19. That’s a jump of 8.5 […] Read more
ICE weekly outlook: Canola gives back gains at midweek
MarketsFarm — Canola was bolstered by strong trade activity and profit-taking at midweek, though values remained rangebound. As of Wednesday, 144,500 canola contracts had traded hands, with the most activity concentrated in the January/March contracts. Spreading accounted for 124,790 contracts traded, which is about 86 per cent of the activity. Keith Ferley of RBC Dominion […] Read more
Visible canola supplies largest in three years
MarketsFarm — Solid farmer deliveries into the commercial pipeline saw visible Canadian canola supplies hit their highest level in three years, according to the latest Canadian Grain Commission (CGC) data for the week ended Sunday. Total visible supplies of the oilseed came in at 1.584 million tonnes, which was the highest of the marketing year-to-date […] Read more
ICE weekly outlook: Canola values could fall further
MarketsFarm — Although canola has continued to be rangebound, one analyst believes prices are due for a downward shift toward the low end of the spectrum. “Gravity is going to pull it back down to the low end of the range, and $10-$15 [per tonne] wouldn’t be surprising,” said David Derwin, an analyst with PI […] Read more
Another 10 bushels an acre of canola? It’s doable, says expert
It’s ‘a big challenge’ but achieving an average of 52 bushels an acre can be done, says Clint Jurke
Reading Time: 5 minutes Six down and 10 to go. If producers are going to hit the Canola Council of Canada’s goal of achieving 52 bushels per acre, they’re going to have to change their management approach, says the organization’s agronomy director. But it can be done, said Clint Jurke. “When we launched this 52-bushel plan four years ago, […] Read more
ICE weekly outlook: Canola steady, awaits news
MarketsFarm — ICE Futures canola contracts moved lower during the week ended Wednesday, but remain rangebound overall awaiting some fresh market-moving news. Some direction could come from the U.S. soybean complex, as the ongoing back-and-forth of trade talks with China could see some actual movement ahead of a Dec. 15 deadline that will see the […] Read more
Consider carrying costs when marketing canola
The current futures market is in a strong carrying charge situation, says analyst
Reading Time: 3 minutes With a large canola carry-over and the uncertain China situation, producers need to consider carrying costs when marketing the crop, says a provincial crop market analyst Given the large inventory and currently restricted demand, the canola futures market is in a strong carrying charge situation, said Neil Blue. The futures market is priced significantly higher […] Read more
ICE weekly outlook: Canola still pressured by soybeans, rangebound
MarketsFarm — The trench in which ICE Futures January canola now finds itself is expected to hold firm, according to Ken Ball of PI Financial in Winnipeg. “We’re developing a range for the January contract that might hold up for a while, around $455-$467 roughly,” he said. “We could kick up and down in that […] Read more
Canada’s canola crush posts new monthly record
MarketsFarm — Canadian oilseed processors set a new monthly record in October 2019, crushing 882,301 tonnes of canola during the reporting period, according to the latest data from Statistics Canada. The crush pace was up by 114,000 tonnes from the previous month and compares with the year-ago October crush of 786,770 tonnes. The previous single […] Read more
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