MarketsFarm –– Supply/demand estimates for Canadian crops were largely left unchanged in Agriculture and Agri-Food Canada’s (AAFC) latest projections, with only the wheat numbers seeing small adjustments in the report released Tuesday. Projected Canadian wheat exports for the 2022-23 marketing year were raised to 24.3 million tonnes, up by 200,000 from the February estimate. Domestic […] Read more
AAFC supply/demand estimates mostly unchanged
Wheat exports up, but domestic usage cut
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
ICE weekly outlook: Canola drifts downward with soybeans
Wheat's recent decline may spur canola acres
MarketsFarm — The ICE Futures canola market drifted downward during the week ended Wednesday largely due to macroeconomic activity in the markets, according to one analyst. Jerry Klassen from Resilient Commodity Analysis in Winnipeg said canola prices have mostly followed the lead of the Chicago soy complex, while rains fell on Brazil as its soybean […] Read more
AAFC revises crop estimates
Export, new-crop production outlooks revised lower for flax
MarketsFarm — Agriculture and Agri-Food Canada (AAFC) on Friday released its February supply and demand estimates with numerous small changes. AAFC held its projections for 2022-23 grains and oilseeds production at 89.489 million tonnes. As for exports, the department reduced them from 45.715 million tonnes last month to now 45.49 million. Furthermore, domestic usage was […] Read more
China to plant more soy, speed up GMOs to ensure food supply
Beijing reiterates goals to increase soy acres, intercrop with corn
Beijing | Reuters — China will increase its efforts to boost output of soybeans and edible oils, state media reported on Monday, citing a key rural policy document, as it continues to push for greater self-sufficiency in its key food supplies. The world’s top soybean buyer is trying to lower its heavy reliance on imports […] Read more
ICE weekly outlook: March canola unchanged from last week
Loonie's relative strength seen as drag on values
MarketsFarm — The ICE Futures canola market was once again trading rangebound for the week ended Wednesday, as the March contract was left unchanged from one week earlier at $828.20. The contract oscillated between a range of $819.40 and $837 per tonne during the week, all the while seemingly immune from larger price ranges seen […] Read more
ICE weekly outlook: Choppy trading for canola, other oilseeds
Signals not pointing to course change for now
MarketsFarm — Expect canola and other oilseed markets to remain choppy for the time being, according to trader Ken Ball of PI Financial in Winnipeg. “All of the markets are very choppy and erratic. They’re very nervous markets,” Ball emphasized, noting war in Ukraine and drought in Argentina are having some of the biggest impacts […] Read more
Renewable diesel demand expected to soar in next two years
Canola production poised to jump as new facilities come on stream in next two years
Reading Time: 4 minutes Renewable diesel production is poised to take off in the next five years and the coming boom is great news for canola growers, says the Canadian Oilseeds Processors Association. “For canola crush, in terms of possible capacity growth in the years to come, we could see almost six million tonnes of increased capacity based on […] Read more
Commodity merchant Louis Dreyfus creates food solutions unit
Company to draw on existing oilseeds processing portfolio
Paris | Reuters — Agricultural commodity merchant Louis Dreyfus Co. (LDC) has created a food and feed solutions business line as part of efforts to diversify its activities in step with consumer trends, the company said on Tuesday. The new unit will focus on developing LDC’s presence in the lecithin, glycerine and specialty feed protein […] Read more
CBOT weekly outlook: Soy futures find support, but upside limited
Corn activity mainly bearish
MarketsFarm — Solid export demand, a short squeeze by fund traders and production uncertainty in South America have all propped up Chicago soybean futures over the past week, with more gains possible ahead of the year-end before correcting lower, according to an analyst. With the South American harvest still some time away, “you might have […] Read more
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