Where does the canola market go now?

The canola market took a turn on Dec. 2 when Statistics Canada lopped off more than 900,000 tonnes from its previous production call for the oilseed. Farmers and traders are faced with less canola, which threw a wrench into things. As expected, less canola coming off Western Canadian fields provided a strong boost to the oilseed’s[...]






Total oilseed production eases back

REDUCTIONS USDA sees major drop in some production areas, but stays steady on Canadian canola

Production of the world’s oilseeds was trimmed back by the United States Department of Agriculture last week, which forecast 625.38 million tonnes for 2022-23 in its world markets and trade report. In March, the USDA pegged global production at 629.89 million tonnes. But despite the reduction in April, it’s still a significant increase from the[...]

Canola falls below $800 support level

It finally happened: canola broke below its support level of $800 per tonne. For quite some time, the Canadian oilseed has been rangebound at $800-$900 per tonne. As with a stuck vehicle, that rocking back and forth gave way to old- and new-crop prices being pulled out of that rut. One element that provided the[...]


No breakout for rangebound canola for now

There is likely nothing substantial over the next few months that could break canola and other vegetable oils out of their rangebound state. Canola, for instance, continued to vacillate between $800 and $850 per tonne during the week ended Feb. 2. In recent weeks the Canadian oilseed has pushed towards $900/tonne, its upper level of[...]

New-crop canola prices inch higher

The spread between old-crop canola and new-crop contracted during the week of March 24-31, as the May contract will soon lose its relevance. Russia’s invasion of Ukraine provided a powerful impetus for global oilseed prices to spike, as crude oil’s strong prices provided plenty of support to its edible cousins. International economic sanctions placed against[...]


Most of Manitoba drier than normal heading into winter

MarketsFarm – Manitoba received normal to below normal precipitation during November and most of the province’s agricultural areas are faced with drier than normal conditions. That’s according to the fall conditions report issued by Manitoba Infrastructure and Transportation on Dec. 14. Much of November’s snow melted and added some moisture to the soil, stated the[...]

How quickly weather changes grain markets

Not long ago, canola tumbled from its four-digit highs as the markets conceded there were likely a lot more oilseed supplies in the world than initially believed. The sharp declines in Malaysian palm oil, European rapeseed and the Chicago soy complex pulled the Canadian oilseed well away from those stratospheric levels. Besides, canola and other[...]