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.
USDA adjusts world, Canadian canola/rapeseed data
Lowers world, Canadian production
The United States Department of Agriculture made a number of revisions to its data for canola/rapeseed in its monthly world oilseed report. On a particular note, the USDA cut its production estimate for Canada, the world's top producer of the oilseed.
USDA cuts corn ending stocks estimate, soybeans unchanged
Corn ending stocks in the United States will be tighter than earlier projections due to increased exports and demand from ethanol producers, according to updated supply/demand estimates from the U.S. Department of Agriculture released Dec. 10. The projected wheat carryout was also revised lower, while soybean stocks were unchanged.
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More wheat, less canola in 2024/25 says Statistics Canada
While Statistics Canada reported more wheat was grown in 2024/25, canola production fell back as the agency issued its principal field crops report on Dec. 5.
Soy traders push to weaken ban on buying from deforested Amazon
Multinational grains traders operating in Brazil are seeking to weaken an agreement that forbids buying soybeans from farms on deforested land in the Amazon rainforest, environmental advocates involved in the discussions said on Wednesday
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.
CBOT weekly: Soybeans/corn to trade sideways
Soybean and corn futures at the Chicago Board of Trade are expected to hold rangebound and trade sideways through the holiday season, as market participants wait to get a better handle on what trade policies proposed by United States President-elect Donald Trump may mean for the commodities in the new year.
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.
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