MarketsFarm — Speculators added to their large net short position in ICE Futures canola during the week ended Tuesday, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). Managed money and other reportable speculators had a net short position of 58,004 contracts on Tuesday, up by about […] Read more
Large spec short position overhanging canola market
StatsCan confirms smaller canola acres, more wheat
MarketsFarm — Canadian farmers intend to seed more spring wheat and less canola in 2019, according to Statistics Canada survey results released Wednesday. Additional shifts are also likely in subsequent reports, as dry conditions in southern Alberta and Saskatchewan may alter some intentions. Statistics Canada forecast canola area for 2019 at 21.3 million acres, which […] Read more
To store or sell canola? That is the question
As grain companies try to boost sales in other countries, growers ponder long-term storage
Reading Time: 4 minutes China’s ban on Canadian canola means that farmers have to take different strategies this year. Some are planning to store their canola on farm, while others are planning to sell. “Anything that has been ordered already, companies are honouring those canola contracts,” said Wade Sobkowich, executive director of the Western Grain Elevator Association. “They’re pencilling […] Read more
Less canola, more wheat expected from Statistics Canada
Winnipeg | MarketsFarm – Canadian farmers will likely seed less canola and more spring wheat in 2019, but the extent of any acreage shifts remains to be seen as market participants await Statistics Canada’s first seeded area estimates of the year on April 24. Canola prices in Western Canada have dropped over the past few […] Read more
Ottawa pressed to consider more options on China’s canola ban
With canola export issues still looming large, some Canadian ag industry groups want the federal government to boost its diplomatic presence on the matter. The Canola Council of Canada on Wednesday said a Canadian technical delegation “has not yet been accepted” to travel to China and address Beijing’s recent suspensions of canola imports from two […] Read more
Feed weekly outlook: Barley bids soften as attention turns to new crop
MarketsFarm — Feed barley bids in the key cattle feeding area of southern Alberta are coming under some pressure, as attention begins to turn to the new crop. “Demand is dropping off here a little bit,” said Allen Pirness of Market Place Commodities in Lethbridge. Feedlots have extended coverage through the spring and into the […] Read more
Neonic-treated canola not an ‘unacceptable risk’ for pollinators
Already facing federally mandated phase-outs from many major on-farm uses in Canada over risks to aquatic insects, neonicotinoids aren’t expected to pose “unacceptable risks” to pollinators when used on canola seed or hothouse vegetables in the meantime. Health Canada said as much Thursday as it released its final re-evaluation decisions for three neonic pesticides — […] Read more
USDA lowers Canadian canola export forecast
MarketsFarm — The slowing pace of Canadian canola exports, linked to the country’s trade dispute with China, saw the U.S. Department of Agriculture lower its forecast for Canadian canola exports in the current 2018-19 marketing year. In its latest Oilseeds: World Markets and Trade report, USDA’s Foreign Agricultural Service said actual Canadian exports could end […] Read more
ICE weekly outlook: Canola hinges on iffy U.S.-China deal
MarketsFarm — Canola contracts one the ICE Futures platform held within a narrow range during the week ended Wednesday, waiting for a catalyst to push futures one way or the other. To Errol Anderson of ProMarket Communications in Calgary, canola’s path is connected to a trade deal between the U.S. and China, which be a […] Read more
What should we do now? Don’t panic, say canola analysts
‘Some opportunity ahead,’ says market watcher
Reading Time: 3 minutes China’s decision to stop buying Canadian canola has prompted some farmers to push the panic button — trying to sell what they have in their bins before things get any worse. But those calling FarmLink Marketing Solutions are being told to hold off on making any hasty moves. “This is a premium oilseed,” said Neil […] Read more