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Canola

Harvest projections are trending lower due to this year's drought conditions.
News

A silver lining following challenging summer?

BMO report cautiously optimistic about the strength of the industry after hot, dry summer

By
A new report from BMO Economics sheds some light on the economic impacts of the hot, dry conditions that persisted across North America this summer. The report, issued on September 17, describes how the widespread growing challenges North American farmers faced this summer affected an agricultural sector still trying to make sense of the impacts
File photo of a canola crop south of Ethelton, Sask. in 2019. (Dave Bedard photo)
Crops, Markets

Canada’s drought forces canola importers to turn elsewhere

'Importers...are going to be left out in the cold'

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Winnipeg | Reuters — Canada’s smallest canola harvest in 13 years, resulting from severe drought, is forcing importers like Japan and Mexico to pay more or scour other countries for the yellow-flowering oilseed. With the scant available Canadian canola fetching high prices, customers of the world’s biggest canola exporter are leaning more heavily on smaller-producing
(Fertilizer Safety and Security Council)
Crops, Weather

Mandated cuts in fertilizer use could be costly for Canada, report warns

Fertilizer industry study, based on EU plan, points to yield losses for corn, canola, wheat

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Straight-up cuts in fertilizer rates — if imposed to help Canada meet its targets for cuts in emissions by the end of this decade — could translate to significantly reduced income for farmers, an industry group warns. Fertilizer Canada, the group representing manufacturers, wholesale and retail distributors for nitrogen, phosphate, potash and sulphur, on Monday
Prices are high, but production is down. For farmers who signed forward pricing contracts that’s a difficult position. A different strategy might have given them the same protection with less risk.
Markets, News

Avoiding the grain contract blues

Delivery contracts aren’t the only game in town when it comes to managing price risk

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The old saying goes “you’ll never go broke selling crops for a profit,” — but you could be in a financial pickle if you don’t deliver what you sold. That hard financial reality has put the long tradition of forward pricing contracts under the microscope this year. It’s prompting questions about the responsibility farmers and
Most farmers, because of the production risk, will only price a portion of their crop until it’s in the bin.
Markets, News

Futures options by the numbers

Options might seem costly, but they’re more flexible and can be cheaper in the end

By
The cost of using options to lock in a floor price for crops is tied to the floor price. The higher the floor price, the higher the cost of what is essentially an insurance premium. If a farmer pays, say, $1 a bushel to lock in a minimum canola price of $16 a bushel, the
While expectations for a way smaller crop remain supportive, canola values may not have much room left to the upside.
Grain Markets, Markets

Demand for canola seen retreating with supplies

Incoming U.S. soy crops will have a seasonal influence on oilseed values

By
ICE Futures canola contracts held rangebound during the week ended Sept. 24, with seasonal harvest pressure on the one hand, countered on the other by the fact that the crop coming off the fields is extremely small. The November contract has held in a sideways range between $850 and $920 since the middle of July.
ICE November 2021 canola (candlesticks) with Bollinger bands (20,2). (Barchart)
Crops, Markets

ICE weekly outlook: Analyst sees canola spike late next month

Movement expected to roll out of November soon

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MarketsFarm — As the canola harvest winds down on the Prairies, ICE Futures canola began to climb upward in approaching $900 per tonne, the upper limit of its range. That’s given Winnipeg-based analyst Wayne Palmer of Exceed Grain reason to believe canola will bust through $900 per tonne. “That’s all due to the drought and
Crop Report, Crops, News

Manitoba crops 90 per cent harvested, winter cereals seeding mostly complete

Manitoba Crop Report and Crop Weather report for September 28

By
Southwest Region Very warm days, well above seasonal norms advanced harvest rapidly this week. Temperatures were extremely variable, with daytime highs ranging from the 25 C to 29 C, while overnight lows dipped to 3.5 C, with reports of frost in some northern areas. Average daily temperatures range from 11 C to 14 C. Dry

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