CNS Canada — ICE Futures canola contracts continued to hang above the psychologically-important $500 per tonne mark during the week ended Wednesday, but the real test could be in the coming weeks as harvest kicks into full gear. The front-month November contract rose $2.10 during the week to $506.90 per bushel by Wednesday’s open. As […] Read more
ICE weekly outlook: Canola futures brace for harvest pressure
Crude oil and canola part company, for now
CNS Canada — The symbiotic relationship that crude oil and canola used to enjoy seems to have hit a snag. Chart structures have proven that crude prices have pushed and pulled canola up and down in recent years. However, since the start of 2018, the gains enjoyed by crude oil have failed to lift canola. […] Read more
India to double state purchases of oilseeds, pulses
New Delhi | Reuters — India’s cabinet approved on Wednesday doubling state purchases of oilseeds and pulses from farmers, in a bid to boost local output and prevent distressed sales. The amount that state agencies guarantee to buy at pre-set prices will double to 190 billion rupees (C$3.7 billion) for a five-year period ending in […] Read more
USDA lowers U.S. corn stocks view as exports rise
Washington | Reuters — Surging export demand for U.S. corn will cut into domestic stockpiles of the grain by more than expected, the U.S. Agriculture Department said on Thursday. But U.S. soybean stocks were forecast to rise as a bumper harvest in Brazil will allow overseas buyers to source their oilseed purchases from the South […] Read more
ICE weekly outlook: Canola creeps toward $500
CNS Canada — ICE Futures Canada canola contracts are showing signs of wanting to climb higher due to recent moves in soybean oil and the Canadian dollar. The front-month March contract is still below the benchmark $500 per tonne mark but is starting to creep toward it. Some of the movement can likely be traced […] Read more
ADM approach to Bunge a potential U-turn on oilseed strategy
Chicago | Reuters –– Archer Daniels Midland’s proposed takeover of Bunge could signal a change in the company’s strategy on oilseeds, giving the top U.S. grain merchant a much bigger capacity to crush soy just months after ADM’s CEO said the firm would cut spending on the sector. The potential strategic change comes as the […] Read more
ICE weekly outlook: Cold-weather bump expected for canola
CNS Canada — The ICE Futures Canada canola complex is facing a slew of supportive and bearish factors as it slowly makes its way through the first part of January. Foremost on traders’ minds is a batch of reports set to be released by the U.S. Department of Agriculture on Friday. Already, there are ideas […] Read more
Chinese protein preference becoming big obstacle for canola
Winnipeg | CNS Canada — As China’s consumption of higher-protein foods continues to grow, so too does its selectiveness for which oilseeds it will pursue on the open market. So far, it’s a race canola does not seem to be winning. “The big demand factor in China is protein, rather than vegetable oil,” said Felix […] Read more
Get the facts before spending big money on micronutrients
Think you might have a micronutrient deficiency in your fields? Take these four steps before spending any money on micronutrient fertilizer, says Ross McKenzie, who became the province’s best-known fertilizer authority during his lengthy career with the province.
Canola market dips to rally, heat stress hits wheat crops
CNS Canada – The ICE Canada canola market had a bit of a wild ride during the week ended July 28, with the November contract falling to its lowest level of the past month at one point before the brakes were hit on the drop and the market rallied $25 in three days. Fund traders[...]
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