MarketsFarm — Although canola prices have been somewhat erratic over the last weeks, they along with other oilseeds have generally rebounded, according to trader Ken Ball of PI Financial in Winnipeg. Ball commented there has been a good amount of short-covering in soyoil at the Chicago Board of Trade, as markets positioned themselves for an […] Read more
ICE weekly outlook: Canola will follow soyoil up or down
Prairie weather another guiding factor
Bunge deal for Viterra to boost oilseed dominance, renewable diesel potential
Canada's Competition Bureau pledges to review deal
Chicago | Reuters — Bunge’s planned acquisition of Viterra would make the world’s biggest oilseed crusher even more dominant and secure a larger role in the expanding renewable diesel industry, although it may face competition hurdles. Under the deal to create an agricultural giant worth about $34 billion including debt, Bunge’s crushing capacity will increase […] Read more
Grain grading guide to tighten definition of ‘severely’ sprouted wheat
More changes, clarifications on deck for Aug. 1
A laboratory review of the end-use quality of sprouted wheat will lead to changes in how wheat is graded starting Aug. 1 this year. The Canadian Grain Commission on Tuesday announced changes in store effective Aug. 1 for how Canadian wheat is graded, along with a list of clarifications and new housekeeping rules for the […] Read more
Clubroot ‘race profiling’ can help boost resistance in canola
Research team sets stage for next generation of resistance to pesky crop disease
Reading Time: 4 minutes Racial profiling is not a term most people would want to be associated with. But with clubroot it’s different; it means the ability to select a canola variety that not only resists clubroot in general, but specific “races” of the disease of canola and other brassica plants. When it happens, thank an AAFC research team […] Read more
Fund short position grows in canola
Traders net long in soy, K.C. wheat
MarketsFarm — The speculative short position in canola grew to is largest level in nearly three months in early June, as investors covered longs and put on more bearish bets, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As of Tuesday (June 6), the net managed money […] Read more
USDA’s June WASDE report brings few notable changes
Canadian wheat harvest expectation unchanged
MarketsFarm — Very few major changes were made in the latest edition of the world agriculture supply and demand estimates (WASDE) published Friday by the U.S. Department of Agriculture. For the 2023-24 crop year, USDA pegged total domestic wheat production at 1.665 billion bushels, slightly higher than the 1.659 billion in the department’s May estimates. […] Read more
ICE weekly outlook: Canola finds support from funds, weather
Crude oil markets also a factor
MarketsFarm — After being in a steady decline over the past month, the ICE Futures canola market was on the rise for the week ended Wednesday. The July canola contract closed Wednesday at $670.30 per tonne, an increase of $20.70 from the week before. Meanwhile, the November canola contract rose $22.60 per tonne over the […] Read more
Fund traders add to bearish bets in canola
Funds also net short in MGEX and CBOT wheat, corn
MarketsFarm — Speculative fund traders added to their net short position in canola during the week ended May 30, putting on more bearish bets while also liquidating some previous longs, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As of May 30, the net managed money short […] Read more
Repeat of record Australian wheat, canola crops unlikely
ABARES expects 2023-24 crop down on year
MarketsFarm — After growing record-large wheat and canola crops in 2022-23, Australia is expected to see a significant drop in production in 2023-24 as developing El Nino weather patterns will likely cut rainfall through the growing season, according to the latest crop report from the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES). […] Read more
ICE weekly outlook: Hard to know where canola will go
'Could easily make a case either way'
MarketsFarm — ICE Futures canola contracts fell hard to end the month of May, dropping to levels not seen in more than two years. While the oversold market may be due for a correction, there could also still be more room to the downside. “It’s hard to have a real solid opinion of whether we’ll […] Read more
Cyber-Savvy Farmer
