MarketsFarm — Statistics Canada reported very sizeable increases in the July canola crush when compared to a year ago. In fact, the month’s crush was not only a record for July but also for any month. Meanwhile, StatCan found the July soybean crush was slightly lower than in July 2022. The federal agency pegged the […] Read more
July canola crush sets new records
Soybean crush down slightly from last July
ICE weekly outlook: Canola following soyoil’s lead
Stat Can's principal field crop estimates will be released on Aug. 29, may affect prices
MarketsFarm – The November canola contract rose above the C$800 per tonne mark for the first time in nearly a month during the week ended Aug. 23. However, it wasn’t without some turbulence over the last two days of trading. On Aug. 22, the November contract lost C$13.40 per tonne to close at $796.00, before […] Read more
AAFC cuts production numbers on drought
Wheat production figures reduced, corn up
MarketsFarm — Agriculture and Agri-Food Canada published its August outlook for principal field crops on Friday, with some notable changes. Production for several cereal, oilseed and pulse crop were reduced, leading to revisions in exports, domestic usage and ending stocks. The report pointed to drought in southern Alberta and western Saskatchewan for the downward move. […] Read more
ICE weekly outlook: Canola enters volatile harvest period
Outside veg oil markets limit the downside
MarketsFarm — The looming harvest may keep a lid on the upside in the ICE Futures canola market over the next month as participants wait to get a better handle on the size of this year’s crop. “We’re still at the mercy of trying to determine what size of crop we have,” said MarketsFarm Pro […] Read more
Fund long position holds steady in canola
Net long in CBOT soybeans down on week
MarketsFarm — The managed money long position in canola held relatively steady during the week ended Aug. 8, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As of Aug. 8, the net managed money long position in canola futures came in at 23,753 contracts (49,339 long, 25,856 […] Read more
ICE weekly outlook: Canola prices ‘cheap’ but rangebound
Trade also watching U.S. soy complex
MarketsFarm — ICE Futures canola contracts held relatively rangebound during the week ended Wednesday, in choppy activity as traders wait to get a clearer picture on the size of this year’s crop. “Overall, canola is relatively cheap,” said Ken Ball of PI Financial in Winnipeg. He pointed to wide crush margins — over $200 per […] Read more
Creating a canola-based plastic alternative
New research turns canola protein into strong, flexible films meant for food packaging
Reading Time: 4 minutes Glacier FarmMedia – Canola growers may one day be able to add food packaging to their list of markets. New research at the University of Manitoba draws on canola meal protein as a feedstock for biodegradable food product packaging. “I think it’s a more sustainable solution to the challenges created by all the petroleum-based plastic […] Read more
ICE canola weekly outlook: Prices trending down ahead of harvest
Harvest pressure may not be that large this year says analyst
MarketsFarm – ICE Futures canola contracts lost ground during the week ended Aug. 2, as spillover from outside markets and easing concerns over the state of the crop ahead of the harvest weighed on values. Excessive heat during the flowering period in June and July caused canola prices to climb higher, but the market is […] Read more
Oilseed crush down, grain deliveries rise in June: StatCan
Canadian grain deliveries reached a three-month high in June
Marketsfarm – Statistics Canada (StatCan) released its June oilseed crush and grain delivery statistics, showing a small decline for the former, but a large gain for the latter from the month before. Oilseed processors in Canada crushed 772,345 tonnes of canola last month, as well as 139,164 tonnes of soybeans for the month of June […] Read more
ICE weekly outlook: canola market heading towards choppy waters
Markets will pause to see how the crops finish developing: analyst
Marketsfarm – While the recent gains in canola on the Intercontinental Exchange were likely generated by the spreaders, the market will probably become choppy, according to Ken Ball, trader with PI Financial in Winnipeg, Man. “Spreaders for the last few days have been selling canola and buying soyoil,” Ball suggested in a July 26 interview, […] Read more