As the turnaround in canola continued, analyst said there are three factors underpinning the swing upward. David Derwin, commodities futures advisor for Ventum Financial in Winnipeg, pointed to the gains made by soyoil futures on the Chicago Board of Trade, the weakening of the Canadian dollar, and the reduction in the canola harvest made by Statistics Canada.
ICE Canada Weekly: Canola could enter narrow range
Soyoil, loonie, StatCan report among supportive factors
CBOT Weekly: WASDE report brings surprise cut to corn
A larger-than-expected cut to corn carryout in the USDA's monthly WASDE report on Dec. 10 affected prices at the Chicago Board of Trade.
CBOT Weekly: Trade focuses on tariffs, USDA report next
Proposed tariffs imposed on Canadian and Mexican imports into the U.S. gave the Chicago Board of Trade a lot to think about during the week ended Dec. 4, 2024.
ICE Canada Weekly: Uncertainty weighs on canola
As the Canadian canola industry remained braced for whatever may come from China in regard to tariffs, a sharp blow to the oilseed arose from a much different source. United States President-elect Donald Trump threatened Canada and Mexico with 25 per cent tariffs on their goods imported by the U.S. effective Jan. 20, the day he’s sworn in.
Rains swell Mississippi River, US soy exports flow at 4-year high
Exporters have shipped soybeans from the busiest U.S. grains port at the fastest rate in nearly four years after rain raised water levels in the Mississippi River, government data showed.
CBOT Weekly: Pros and cons for U.S. soybeans, corn, wheat
As the likelihood of tariffs loom over United States soybean, corn and wheat exports, that trio of commodities has been facing their share of pros and cons, said analyst Tom Lilja of Progressive Ag in Fargo, N.D.
ICE Canada Weekly: Sideways trading likely until Trump sworn in
Uncertainty over policies of president-elect
As to where canola and other grains go in the coming months is somewhat uncertain, said analyst Wayne Palmer of Exceed Grain in Winnipeg. He pointed directly at the incoming Trump administration in the United States and the policies the president-elect has been touting.
CBOT Weekly: U.S. election drags down soybeans
Results from the United States election pulled down soybean prices at the Chicago Board of Trade during the week ended Nov. 13, 2024.
Trump trade policy seen as wild card for US soybean farmers, opportunity for crushers
American farmers are worried that President-elect Donald Trump's sweeping tariff plans will curb their access to top soy buyer China, but tariffs could also lure companies to build more U.S. crushing plants, hungry for domestic supplies.
USDA lowers U.S. soybean/corn yield estimates
There were a few tweaks to the latest monthly report from the United States Department of Agriculture released on Nov. 8. The World Agricultural Supply and Demand Estimates not only lowered yields for U.S. corn and soybeans, the department reduced the ending stocks for both.
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