MarketsFarm — Canola prices came off of the long weekend in the green, but quickly gave back those gains at midweek, remaining stagnant and rangebound. While rail blockades across the country have hampered rail activity and backed up grain shipments, cold weather has slowed down farmer movement for canola. That has insulated canola prices from […] Read more
ICE weekly outlook: Canola values stuck in a range
Canola supplies in commercial pipeline hit fresh high
MarketsFarm — Visible canola supplies in the commercial pipeline hit their highest level in more than three years in the latest Canadian Grain Commission data, with the slow pace of export movement likely to keep those stocks at burdensome levels. Total visible Canadian canola supplies as of Sunday were pegged at 1.6 million tonnes. That’s […] Read more
Tax credit available for canola checkoffs
Reading Time: < 1 minute Canola growers who haven’t requested a refund of their checkoff from the Alberta Canola Producers Commission qualify for a tax credit. The Scientific Research and Experimental Development (SR&ED) tax credit allows canola growers to claim the credit for the portion of the checkoff paid that was used to fund qualifying research. “Farmers are funding research […] Read more
Don’t expect a quick fix for China’s ban on Canadian canola
China expert says Beijing’s retaliation against Canada has ‘the personal imprint of the Chinese president’
Reading Time: 3 minutes An easy or fast solution to the Chinese defacto ban on canola is unlikely, says a China expert. “China doesn’t yield to simple analysis,” Gordon Houlden, a political science professor and director of the China Institute at the University of Alberta, told FarmTech attendees. The detention of Huawei executive Meng Wangzhou on an extradition warrant […] Read more
Fund traders add to bearish bets in canola
MarketsFarm — Large fund traders were busy adding to short positions in canola, soybeans and corn during the first few trading days of February, 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 […] Read more
Canada, China both ‘furious’ over Huawei row, envoy says
Ottawa | Reuters — Canada and China are both “furious” over the case of a Huawei executive detained in Canada in 2018 and its aftermath, but there are signs the two sides can hold constructive talks, the Canadian ambassador to Beijing said Wednesday. Canadian police picked up Huawei Technologies chief financial officer Meng Wanzhou on […] Read more
ICE weekly outlook: Canola correcting off lows
MarketsFarm — The ICE Futures canola market fell sharply over the last half of January but have turned the corner during the first few trading days of February. “I think we have room for some corrective gains,” MarketsFarm Pro analyst Mike Jubinville said of the recovery in canola. The March contract hit a session low […] Read more
Unharvested crops skew StatsCan stocks data
MarketsFarm — Canadian canola stocks were slightly tighter at the end of the 2019 calendar year compared to the previous year, according to updated Statistics Canada data. However, adverse harvest conditions left a large amount of the crop unaccounted for in the survey, which skews the overall supply/demand outlook. “Because of poor weather conditions during […] Read more
Fund short position grows in canola
MarketsFarm — Large fund traders were betting that canola and soybean futures would move lower in late January, with the net managed money short position in both oilseeds rising in 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 […] Read more
Poor Chinese demand a setback for grain exports
MarketsFarm — Canadian grain exports from licensed facilities are running well behind the previous year’s pace, due primarily to a sharp reduction in movement to China, according to latest monthly data from the Canadian Grain Commission. Total exports at Dec. 31 of grain, oilseed and pulse crops for the 2019-20 crop year to date came […] Read more
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