MarketsFarm — ICE Futures canola contracts held rangebound during the week ended Wednesday, climbing to their strongest levels in two months at one point before running into resistance and retreating to trade well off those highs. “We’re still stuck in a trading range,” said Keith Ferley of RBC Dominion Securities in Winnipeg. Activity in outside […] Read more
ICE weekly outlook: Canola still rangebound
Selling pressure seen from U.S. soy
Exports tumble as supplies simply not there
'There's very little to sell'
MarketsFarm — Cereal and oilseed exports out of Canada nosedived in August just as the 2021-22 marketing began, according to the monthly export report from the Canadian Grain Commission (CGC). At about 2.24 million tonnes, total grain exports were down 38.5 per cent overall compared to those in August 2020. “There’s very little to sell. […] Read more
Canola exports down 72 per cent through eight weeks
MarketsFarm — Canadian canola and wheat exports continue to run well behind the year-ago pace, with movement of all crops down 34 per cent through the first eight weeks of the 2021-22 crop year. Total exports of all of the major grains, oilseeds and pulses as of Sunday, at 4.714 million tonnes, are down by […] Read more
AAFC lowers ending stocks estimates on crops
MarketsFarm — Canadian producers will see much tighter grain and oilseed stocks at the end of the current 2021-22 marketing year than what was expected last month, while those for pulse and special crops remain mostly steady. Agriculture and Agri-Food Canada’s (AAFC) September supply/demand estimates, released Friday, project 2021-22 ending stocks for all principal field […] Read more
Dreyfus, others shut soy crushers in China on power curbs
'Cash is on fire'
Beijing | Reuters — Soymeal prices in China, the world’s top consumer of the animal feed ingredient, are rising after at least 20 soybean crushing plants shuttered to comply with curbs on industrial power consumption, industry participants said on Friday. Five crushing plants in the northern city of Tianjin closed this week, said Tianfeng Futures […] Read more
Interview: Counting crops in advance
Reviewing the latest from StatsCan and USDA
Statistics Canada on Tuesday released new model-based estimates for the country’s principal field crops, projecting “substantial” yield declines for most of the major crops grown in Canada, due mainly to drought conditions across much of Western Canada during much of the growing season. The previous Friday, the U.S. Department of Agriculture released its latest world […] Read more
Ag department lowers crop production, export estimates
Expectations knocked down for most major Prairie crops
MarketsFarm — Canadian crop production will be down significantly in the 2021-22 marketing year, cutting into exports for all of the country’s major grains, oilseeds and pulse crops. That’s the estimation from the latest supply/demand estimates from Agriculture and Agri-Food Canada (AAFC), released Thursday. Total field crop production for all crops is forecast to decrease […] Read more
India to launch $1.48 bln plan to raise oilseed output, cut imports
New Delhi | Reuters – India will launch a 110 billion rupee ($1.48 billion) plan to boost domestic oilseed production to make the country self-sufficient in edible oil, Prime Minister Narendra Modi said on Monday, a move that will cut costly vegetable oil imports. India is the world’s biggest vegetable oil importer and spends an […] Read more
ICE weekly outlook: $1,000 canola not a guarantee
MarketsFarm — Any idea of canola hitting $1,000 per tonne in the near future is not the sure thing some people may have thought it was, according to Errol Anderson, an analyst with ProMarket Communications in Calgary. “New-crop futures might take a run at $1,000 per tonne, but in the same breath the November contract […] Read more
ICE weekly outlook: Weather, soy complex weaken canola
MarketsFarm — Wet weather on the Prairies and U.S. northern Plains has brought downward pressure on ICE Futures canola prices, taking the market off the contract highs hit in early June. Losses in palm oil and soyoil were also bearish. While precipitation, or the potential of it falling over canola-growing areas in Western Canada and […] Read more
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