MarketsFarm — Fund traders put more new bearish bets on canola in the second week of April, adding to their net short position, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). The net managed money short position in ICE Futures canola came in Tuesday at 38,129 […] Read more
Funds add to net short position in canola
ICE weekly outlook: Loonie’s rally kept canola lower
CBOT soymeal, soyoil also drag on canola
MarketsFarm — Canola prices dropped over the last week due to a combination of factors, according to David Derwin of PI Financial in Winnipeg. The Canadian dollar was one of those factors, as it had a small rally that pushed the loonie to almost 72 U.S. cents. That rally ended Wednesday, however, when the dollar […] Read more
Funds still net-short on canola
MarketsFarm — Fund traders were on both sides of the canola market during the first week of April, reducing their net short position slightly, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). The net managed money short position in ICE Futures canola came in April 7 […] Read more
February’s oilseed crush lower than January’s
Canola, soybean crush down on month, StatsCan reports
MarketsFarm — As has often been the case, February 2020’s oilseed crush was lower than January’s, according to Statistics Canada’s latest report released Thursday. More than 812,600 tonnes of canola were crushed in February, down 4.9 per cent from January. Also, there were 144,260 tonnes of soybeans crushed in February, for a drop of 10.7 […] Read more
ICE weekly outlook: Canola market floating headline to headline
MarketsFarm — The ICE Futures canola market moved lower during the week ended Wednesday, but activity was choppy as futures reacted to broad swings in global financial markets. While the looming growing season should be starting to garner some attention, the COVID-19 pandemic “has grabbed all of the headlines and all of the oxygen out […] Read more
Cold spring weather expected for Prairies
MarketsFarm — Temperatures in the Prairie provinces are expected to be colder than average this spring. “There’s no indication that temperatures will be above normal,” said Bruce Burnett, director of markets and weather for MarketsFarm in Winnipeg. Low temperatures will likely cause issues for seeding in areas of the Prairies that have received late-spring snowstorms. […] Read more
Canola production paths diverge for Canada, Australia
Issues seen in Canadian crop quality, logistics
MarketsFarm — Canola production is on different paths in Canada and Australia, according to the respective attachés from the U.S. Department of Agriculture (USDA). For the world’s top two canola exporters, the attachés forecast production in Canada to remain steady and project strong gains for Australia. USDA’s Foreign Agricultural Service (FAS) published the reports Monday, […] Read more
China yet to resume all canola imports from Canada, officials say
No correction measures yet shown, Chinese foreign ministry says
Beijing | Reuters — China has yet to resume all canola imports from Canada, the foreign ministry said on Friday, after suspensions were imposed on some suppliers last year. Canola imports from some Canadian exporters were suspended by China because of quality reports and it has not received any correction measures, so imports have not […] Read more
Funds covering shorts in canola
Traders also move to net long in Chicago soybeans
MarketsFarm — Fund traders covered short positions in canola and moved to a net long position in Chicago soybeans during the week ended Wednesday, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). The net managed money short position in ICE Futures canola came in Wednesday at […] Read more
ICE weekly outlook: Canola loses strength at midweek
MarketsFarm — ICE Futures canola contracts succumbed to pressure from comparable vegetable oils at midweek, after showing strength earlier in the week. Ken Ball of P.I. Financial said lower soyoil values put canola “under tremendous pressure.” Nearby soyoil contracts were down by about a penny on Wednesday. Earlier in the week, rumours swirled regarding the […] Read more
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