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
ICE weekly outlook: Canola loses strength at midweek
U.S. projects wheat acres at record lows, increases for soy, corn
Grain stocks as of March 1 down on year
MarketsFarm — As with last year, total wheat acres in the United States are projected to remain at all-time lows, according to the U.S. Department of Agriculture (USDA). The department issued its prospective plantings estimates Tuesday. MarketsFarm director of markets and weather Bruce Burnett called USDA’s wheat and soybean estimates positive, while he said its […] Read more
Canola dockage agreement with China expires, but limited exports to continue
Most remaining shipments meet Beijing's requirement
Exports of Canadian canola seed exports to China will continue, at the same reduced pace seen since March last year — but only if it contains less than one per cent dockage. A memorandum of understanding (MOU) between the two countries allowing higher dockage ends Tuesday (March 31), a Canadian government official said in an […] Read more
China to resume imports of Canadian canola, sources report
Beijing | Reuters — China has agreed to allow imports of Canadian canola to resume, two sources briefed on the matter told Reuters on Tuesday, lifting a ban in place since March 2019 that had halted US$2 billion worth of trade. The agreement was reached during a call held by China’s customs administration and Canada’s […] Read more
Funds reduce net short position in canola
MarketsFarm — Fund traders were covering short positions in canola during the week ended Tuesday, 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 48,614 contracts (886 long/49,500 short), a decrease of about […] Read more
Burnett on Markets: Suddenly agriculture is important
COVID-19 is putting food security in the spotlight
MarketsFarm — A trend has developed in the business news channels over the past week that has not been hard to miss. Suddenly the CEOs of big agriculture and food concerns are being featured front and centre during the business segments. Usually these companies are noted only when they release quarterly results and even then […] Read more
Canola producers mark depressing anniversary
One year on, Canada and China seem no closer than ever to resolving canola seed ban
Reading Time: 2 minutes It’s been a year since China banned most imports of Canadian canola, and there’s no end in sight. “It’s a very frustrating situation for producers and the industry,” Jim Everson, president of the Canola Council of Canada, said in an interview at the Canadian Crops Convention here. “There are some exports going to China (but) […] Read more
ICE weekly outlook: Canola, soy crush margins up sharply
MarketsFarm — As canola and other ag commodities made strong gains over the last week, there was something a little strange about them, according to Winnipeg-based trader Bill Craddock. Crush margins, he said, follow prices for edible oils and meal, as well as the Canadian dollar. It’s all part of the formula used to calculate […] Read more
Wheat in Whitehorse: How climate change helps feed Canada’s remote regions
Newfoundland and Labrador also pushing to expand arable land base
Winnipeg/Ottawa | Reuters — After failing to grow wheat in the Yukon territory 15 years ago, farmer Steve Mackenzie-Grieve gave it another shot in 2017. Thanks to longer summers, he has reaped three straight harvests. This spring he plans to sow canola on his family’s 450-acre farm near Whitehorse, a city not much further from […] Read more
Fund traders cover canola shorts, liquidate corn longs
MarketsFarm — Fund traders were covering short positions in canola and liquidating longs in corn during the week ended Tuesday, 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 58,455 contracts (2,163 long/60,618 […] Read more
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