ICE Futures canola fell from contract highs as summer officially began and wild swings in outside markets weighed on values. However, support held to the downside and the uptrend remained intact ahead of a pair of key reports that could provide some nearby direction.
ICE canola weekly outlook: Uptrend intact despite selloff
Nov canola holds above 20-day moving average
AAFC makes more adjustments to canola numbers
Also changes dry pea data
With exports of Canadian canola still going strong in 2024/25, Agriculture and Agri-Food Canada readjusted its estimates in its June supply and demand report.
Indian rapeseed meal exports soar as China replaces Canadian canola supply
China placed Canadian canola oil, meal under a 100 per cent tariff in March
China is set to make record purchases of rapeseed meal from India following Beijing's move to impose a 100 per cent retaliatory tariff on Canadian canola imports, senior industry officials said.
ICE Canada Weekly: Canola poised to rise or fall
Weather, China could guide oilseed’s trajectory
Canola prices could shift up or down in the coming weeks due to uncertainty, said Jerry Klassen, analyst with Resilient Capital in Winnipeg
ICE Weekly: Low stocks, dry weather raising canola prices
Upcoming rains could pull prices back
Canola prices were on the rise for the week ended June 11 as depleted stocks and dry weather gave the markets a lift.
Manitoba crops 99 per cent planted
Five points ahead of average
Seeding operations across Manitoba largely wrapped up during the week ended June 10, with 99 per cent of intended acres in the ground, according to the latest provincial crop report. That was up four points from the previous week and compares with the five-year average of 94 per cent done.
China seeks improved ties with Canada amid rising trade tensions
Carney and Li agreed to establish regular communication channels
China called on Friday for steps to improve bilateral ties with Canada, saying there were no deep-seated conflicts of interest, following a spike in trade tensions with many of Beijing’s Western trade partners this year.
China blocks Canada’s request for review of Chinese duties on agriculture, fish
Next meeting June 23
China has blocked Canada's request to set up a dispute panel to review additional import duties by China on certain Canadian farming products and fish, a Geneva-based trade official said on June 5.
ICE canola weekly outlook: Weather to drive market
Conditions range from too dry to too wet
Weather conditions across the Canadian Prairies will likely be a major driver of the canola futures market in the weeks ahead, as attention shifts from the tight old crop supply situation to the prospects for the new crop.
Australia forecasts wheat output down 10 per cent on dry conditions
Barley, canola also hit
Australia's wheat production is projected to drop 10 per cent this year to 30.6 million tonnes, with barley and canola output also expected to fall due to dry conditions across several cropping regions, the agriculture ministry, ABARES, said.
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