MarketsFarm – There’s a looming problem that’s on the verge of surfacing in the Canadian canola market – many growers will be unable to fulfill their contracts due to lower production. The drought across the Prairies dashed canola production estimates from the initially anticipated 20 million tonnes, to something that could be in the range […] Read more
ICE weekly outlook: Major canola supply issues ahead
ICE weekly outlook: Canola scale-up selling to temper gains
MarketsFarm – ICE Futures canola contracts climbed above chart resistance to hit their highest levels in six-months on July 29. While there is more room to the upside, farmer selling could temper additional gains. Fund traders adding to long positions together with solid export demand, especially from Europe, accounted for much of the recent strength […] Read more
ICE weekly outlook: Canola values trading in a range
MarketsFarm – Canola has remained trading in a range for most of the week, with short coverings a feature in trading. Canola values have been well-supported by Malaysian palm oil values, which were stronger for most of the week due to tight supplies and lowered production. On Tuesday, benchmark palm oil contracts hit their highest […] Read more
ICE weekly outlook: Canola bids return to being range-bound
MarketsFarm – Until the New Year expect canola bids to remain range-bound much like it was during the summer, according to one Winnipeg-based analyst. “Canola going C$10 lower isn’t out of the question,” commented David Derwin, commodity portfolio manager with PI Financial. Below normal temperatures on the Prairies coupled with rain and snow have provided […] Read more
ICE weekly outlook: Canola bids not moving much
Winnipeg | MarketsFarm – So far this summer, canola prices have continued to remain range-bound, said David Derwin of PI Financial in Winnipeg, Man. “On a week to week basis, we’re kind of at the low end of the range,” Derwin commented, noting C$450 per tonne has been near the low end of that range. […] Read more
ICE weekly outlook: Keep an eye on soybeans, loonie
MarketsFarm – For canola prices, the key influences will be soybeans as well as the Canadian dollar, according to Errol Anderson of ProMarket Communications in Calgary, Alta. Anderson said soybeans on the Chicago Board of Trade (CBOT) were higher, due to trade negotiations between United States and China resuming on July 29. That could push […] Read more
Cyber-Savvy Farmer
