MarketsFarm — ICE Futures canola contracts fell to their lowest levels in three and a half months during the week ended Wednesday, taking some direction from Chicago soyoil as harvest activity winds down across the Prairies. Losses in other markets, including Malaysian palm oil and European rapeseed futures, added to the declines in canola. “Everybody […] Read more
ICE weekly outlook: Canola futures looking for bottom
Crushing pace remains aggressive
U.S. grains: Soybeans down on positioning, crush pace
CBOT wheat ends up on week
Chicago | Reuters — U.S. soybean futures fell on Friday on technical selling and profit taking after two sessions of gains, and as a monthly crush report showed U.S. processors handled far fewer beans than expected in August. Corn futures followed soybeans lower, with both markets also pressured by improving crop conditions in Europe and […] Read more
Canola crush of 2022 smallest in five years
Meanwhile, soybean crush rose on the year
MarketsFarm — Statistics Canada (StatCan) reported that 2022 had the smallest domestic canola crush for a calendar year since 2017. As well, 2022 marked the smallest canola oil production in five years and the least amount of canola meal produced in four years. The sharp reduction of canola being crushed was due to the 2021 […] Read more
Solid crush more than makes up for slow canola exports
MarketsFarm — Canada’s ongoing diplomatic dispute with China may be slowing canola exports, but the strong pace of the domestic crush is more than making up for any shortfall in international business. The Canadian Grain Commission reported total domestic disappearance of canola during the crop-year-to-date of just over 4.8 million tonnes, as of Sunday (Jan. […] Read more
Visible canola supplies largest in three years
MarketsFarm — Solid farmer deliveries into the commercial pipeline saw visible Canadian canola supplies hit their highest level in three years, according to the latest Canadian Grain Commission (CGC) data for the week ended Sunday. Total visible supplies of the oilseed came in at 1.584 million tonnes, which was the highest of the marketing year-to-date […] Read more
Canadian canola demand off year-ago pace
CNS Canada — Canadian canola exports and domestic usage are both falling behind the year-ago pace, according to the latest Canadian Grain Commission data. Canada exported only 63,700 tonnes of canola during the week ended Jan. 6, according to the report. That compares with the average weekly movement during the crop-year-to-date of about 200,000 tonnes. […] Read more
ICE weekly outlook: Sturdy canola watching weather
CNS Canada — Canola futures are trading at roughly the same level they were a month ago, but the commodity is looking much more expensive from an end-user’s perspective, as crush margins have lost about $25 per tonne since the middle of March. “The Canadian dollar has been going up and bean oil is making […] Read more
ICE weekly outlook: Big canola supply counters big demand
CNS Canada — ICE Futures Canada canola contracts fell to their lowest levels in a month earlier this week, but appear to have found some support from a chart standpoint. Solid demand on the one hand is being countered by large supplies on the other. “The demand component is powerfully strong,” said Mike Jubinville of […] Read more
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