For farmers who plan to keep canola in bins through the hottest months of the year, a new Prairie study suggests that to manage bin temperature, less handling is better. Having set out to study how best to manage higher-moisture canola over the spring and summer, a team from the Prairie Agricultural Machinery Institute (PAMI) […] Read more
Cool, dry canola keeps best when left alone
ICE weekly outlook: Canola under pressure
CNS Canada — ICE Futures Canada canola contracts posted large losses during the week ended Wednesday, and could be due for further declines as outside market influences remain bearish. “There are no bullish factors in the market at all,” said Wayne Palmer, senior market analyst with Agri-Trend Canada, adding “we’re going lower, before we’re going […] Read more
Free trade deal with China worth billions, says canola council
Deal could up canola oil, seed, and meal sales to China by $1.2 billion a year and create 33,000 new jobs, says organization
Reading Time: 2 minutes The canola sector is welcoming Ottawa’s move to begin discussions on a free trade agreement with China. A free trade deal with China could create 33,000 additional jobs in Canada from increased exports of canola alone, said the Canola Council of Canada, which commissioned an independent analysis on that subject. “Freer trade with China would […] Read more
Sideways canola futures well above chart support
CNS Canada — Canola remains stuck in a sideways trading range well above major chart support, despite losses in the U.S. soy complex. The May soybean contract at the Chicago Board of Trade fell sharply below the 200-day moving average of US$10.20 per bushel on Thursday, as that market had a bearish reaction to the […] Read more
ICE weekly outlook: Canola falls on week, outlook bullish
CNS Canada –– Canola declined on the week with near-term pressure, but looking to the spring, the market may tighten as crops of seasons past haunt upcoming production. Since last week, canola lost $5.70 per tonne in the May contract, closing at $527.20 on Wednesday. The canola market declined with influence from Chicago Board of […] Read more
Canola’s rally pushes cash prices higher
CNS Canada — Canola cash prices notched gains with recent news out of the U.S., but the market remains rangebound, and near-term support is likely to run dry. Canola cash prices were supported by a two-day rally in the futures, said Mike Jubinville of ProFarmer Canada, but crushers have widened out the basis for nearby […] Read more
Canola’s impact shown throughout Canadian economy
CNS Canada –– Like a rock thrown in a lake creates ripples on shore, a new study commissioned by the Canola Council of Canada shows the sector’s impact is growing larger — causing ripples to turn to waves. Canola’s value to the Canadian economy has tripled over the past decade to $26.7 billion a year, […] Read more
ICE weekly outlook: Canola rises amid biofuel uncertainty
CNS Canada — ICE Futures Canada canola contracts recorded substantial gains during the week ended Wednesday, on speculation the Trump administration would alter biofuel regulations in the U.S., which sparked a flurry of buying. So far the specifics of any changes have yet to be announced, but already some in the industry believe the U.S. […] Read more
Falling farm gate prices highlight ‘long overdue’ topic
CNS Canada — Statistics Canada’s latest Farm Product Price Index marks a year of annual declines, predominantly led by the cattle sector. The whims of the market are one source of losses, but two producer group heads say the data call attention to the country’s processing sector. Year-over-year declines in Canada’s Farm Product Price Index […] Read more
Canola checkoff tax credit available
Reading Time: < 1 minute Canola growers who didn’t ask for a checkoff refund last year can get a tax credit for the 2016 tax year. The Scientific Research and Experimental Development tax credit covers the portion of the checkoff used for qualifying research. For Alberta canola producers, the credit is 9.77 per cent. For example, for an individual grower […] Read more