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Canola

Dryness pushes canola futures higher
Grain Markets, Markets

Dryness pushes canola futures higher

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Benefits from early-June rains have turned to doubts

New-crop canola contracts that bottomed out at the daily limit of $30 per tonne on June 17 have since made a dramatic turnaround — not so much because of what else has been going on in the markets, but rather because of the weather. As with earlier this spring, hot and dry weather has again descended over the
ICE November 2021 canola (candlesticks) with Bollinger (20,2) bands. (Barchart)
Crops, Markets, Weather

ICE weekly outlook: Volatility to come for canola market

'Tighten up your seatbelt'

By ,
MarketsFarm — Record-breaking temperatures in British Columbia, lingering extreme heat in the Prairie provinces and little to no precipitation have strengthened an ongoing rally in the ICE Futures canola market. One trader, however, warns that canola contracts may be in for a mercurial few weeks. “We’re clearly in a weather market that is extremely volatile,”
CBOT November 2021 soybeans (candlesticks) with 20- and 100-day moving averages (green and black lines) and ICE November 2021 canola (yellow line, left column). (Barchart)
Crops, Markets

U.S. grains: Corn, soy mixed ahead of plantings, stocks reports

Canadian farmers expand canola acres

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Chicago | Reuters — Chicago Board of Trade corn and soybean futures were mixed on Tuesday as traders adjusted positions ahead of key U.S. reports on crop plantings and inventories. The U.S. Department of Agriculture on Wednesday is expected to increase its estimate for corn plantings by about three per cent from March, according to
Canola south of Ethelton, Sask. on Aug. 3, 2017. (Dave Bedard photo)
Crops, Markets

Canada’s canola acres up from earlier forecast

Wheat acres up; barley, oats, corn revised lower

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MarketsFarm –– Canadian farmers seeded more canola in 2021 than originally intended, with a number of other crops also seeing adjustments higher as dry weather through the planting season allowed for a fast seeding pace. In its June estimates of principal field crop areas, released Tuesday, Statistics Canada pegged total canola planted area at 22.5
(Dave Bedard photo)
Crops, Markets, Weather

Canola, wheat acres in opposite trends before StatsCan report

'Every commodity was offering options that were profitable'

By ,
MarketsFarm — Just days prior to Statistics Canada issuing its latest survey-based crop acreage report on Tuesday next week, analysts are estimating a rise in canola acres at the expense of wheat. “Coming through the winter and towards spring seeding, we were looking at canola prices that were at their highest levels of all time,”
Ceres grew its business in Manitoba last year when it bought Delmar Commodities, including Jordan Mills, a small soybean extrusion plant near Roland, Man.
News, Oilseeds

Ceres Global Ag Corp. making its presence known on the oilseed processing stage

Manitoba will continue to be important in this grain company’s growth, says CEO Robert Day

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Ceres Global Ag, a publicly traded, Minneapolis-based company, was flying mainly under the radar — until recently. But the newcomer grain company made headlines May 25, announcing plans to build a 1.1-million-tonne, US$350-million canola-crushing plant at Northgate, Sask. That move brought the firm into clearer focus for many market participants, and the picture that’s emerged
News, Oilseeds

Ceres’ plan for canola crushing ‘good news’

Crushers are confident canola sector will produce enough product for new capacity

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“Good news all around.” That’s how Chris Vervaet, executive director of the Canadian Oilseed Processors Association (COPA), responded when asked about Ceres Global Ag Corp.’s plans to build a 1.1-million-tonne canola-crushing plant at Northgate, Sask. Earlier this year two other companies announced they will build new plants, and a third announced it was doubling capacity of an existing facility.
Further speculative shakeouts aside, weather and its effects on crops in progress will remain the major market mover in coming weeks.
Grain Markets, Markets

Commodity sell-offs drag oilseeds, grains lower

Underlying market fundamentals remain supportive

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North American grain and oilseed futures were in free-fall mode during the week ended June 17, with November canola losing nearly $100 per tonne in the span of five trading sessions. Soybeans, corn and wheat futures in the U.S. also found themselves in a tailspin as speculative long liquidation built on itself in the grains
ICE July 2021 canola (candlesticks) with 20-day movjng average (green line), ICE November 2021 canola (yellow line) and CBOT July 2021 soybeans (black line, left column). (Barchart)
Crops, Markets, Weather

ICE weekly outlook: Weather, carryout support canola

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MarketsFarm — As higher-than-normal temperatures become almost a weekly occurrence in Western Canada amidst tightening carryout stocks, canola seems primed for another extended rally. Despite rains in Western Canada over the past three weeks, providing some relief for canola crops and triggering fund liquidation on the markets, carryout remains very low, with warmer temperatures exacerbating

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