CNS Canada — It was a busy week for canola contracts on ICE Futures Canada as the most-active July contract rocked and rolled between $530 and $540 per tonne before settling Wednesday at the $528 mark. The last time the dominant canola contract was above the $535 mark was in November last year. Commercial interest, […] Read more
ICE weekly outlook: Canola backs away from lofty heights
Canola chart points to bearish reversal
CNS Canada — After hitting a contract high Monday, the ICE Futures Canada July canola contract subsequently turned decidedly lower to form a key reversal pattern from a chart perspective. July canola hit a high of $539.50 per tonne Monday, but settled right around where it started, near the lows of the day, at $536.70. […] Read more
ICE weekly outlook: Canola watching U.S./China spat
CNS Canada — ICE Futures Canada canola contracts moved steadily higher over the past week as grain markets reacted to a mounting trade dispute between China and the U.S. While no sanctions are yet in place, the back-and-forth sabre-rattling between the two countries now includes proposed Chinese tariffs on U.S. soybeans, which weighed heavily on […] Read more
ICE weekly outlook: Canola seeks support amid bearish signals
CNS Canada –– ICE Futures Canada canola contracts appear to be tilting to the downside as they enter the Easter break, and will likely need support from a key U.S. government report if they want to stay in their current range. At 11 a.m. CT, Thursday, the U.S. Department of Agriculture is scheduled to release […] Read more
ICE weekly outlook: Canola futures linked to NAFTA
CNS Canada — ICE Futures Canada canola contracts zigged and zagged around the $520 per tonne mark during the week ended Wednesday — but one analyst says the market could really take a turn if and when the future of the North American Free Trade Agreement is clarified. “The Canadian dollar is already moving to […] Read more
Canola acres set to jump, but so will the risk of disease
Canola plantings are expected to increase by about one million acres, and that means more disease risk
Reading Time: 3 minutes Canola could top out at over 24 million acres in Canada this year — one million more acres than growers planted in 2017. “With the relative return right now, canola is looking better than wheat,” said Murray Hartman, oilseed specialist for Alberta Agriculture and Forestry. “If these kinds of price signals continue or strengthen in […] Read more
Last chance to deliver cancelled canola variety
Reading Time: < 1 minute The Canadian Grain Commission is making an exception and allowing deliveries of canola variety 46A76 made before Aug. 1 to be assigned any grade for canola. The registrant of 46A76 had applied to cancel the variety’s registration, a popular open-pollinated canola variety in parts of Alberta. Alberta Canola learned about the cancellation last spring, but […] Read more
ICE weekly outlook: Canola bids ‘not too bad’
CNS Canada — ICE Futures Canada canola contracts have seen some large price swings over the past two weeks, but the bids in the countryside remain relatively favourable overall, according to an analyst. The May contract hit a nearby high of $530.50 per tonne on March 5 before dropping to a session low of $511.50 […] Read more
ICE weekly outlook: Canola backing away from resistance
CNS Canada — ICE Futures Canada canola contracts appear to have finally run into some resistance after trending higher for all of February. While a return higher is possible, canola will take most of its direction going forward from what happens in outside markets. The May canola contract hit a three-month high of $531 per […] Read more
Smucker drops bid to buy Wesson Oil after U.S. objects
Washington | Reuters — J.M. Smucker Co. said on Tuesday it will abandon its plan to acquire Conagra Brands’ Wesson Oil brand after the U.S. Federal Trade Commission had moved to block the deal arguing it would likely lessen competition and violate anti-trust law. Mark Smucker, CEO of J.M. Smucker, said “it is not in […] Read more