Canola prices climbed higher during the week ended June 5, despite strength in the Canadian dollar that would typically have a bearish effect on prices. Nearby canola contracts started the week at $457.10 per tonne and posted losses on Monday before rallying on Tuesday. By June 4, nearby contracts closed at $463.60 per tonne. The Canadian dollar was over 74
Canola
Canola gains on veg oils’ strength
Pressure comes from the loonie’s recent improvement against the U.S. dollar
MASC records more than 480 reseeding claims so far
Flea beetles, wind, crusted soil and frost have been the main perils
After the harvest from hell last fall Manitoba farmers are struggling with spring seeding setbacks. As of June 4 the Manitoba Agricultural Service Corporation (MASC) had received more than 480 reseeding claims representing 130,000 acres, due to perils including frost, flea beetles, crusted soils and hot, dry winds, or a combination of some or all,
ICE weekly outlook: Attention on weather after short-covering rally in canola
MarketsFarm — ICE Futures canola contracts have recovered off of lows hit at the beginning of the month, with speculative short-covering a feature as attention in the markets turns to North American growing conditions. While canola ran into some resistance Wednesday, there may still be more room to the upside. Canadian canola is at a
Seeding nearly complete across province, flea beetle spraying ongoing
Manitoba Crop Report and Crop Weather report for June 9
Southwest Region Very hot and windy conditions started the week. Blowing soil in much of the southern parts of the region on Thursday and Friday. Rain fell over the weekend, which was much needed in some areas. There is some standing water in low-lying areas from thunderstorms near Brandon. There are also reports of a
Fund traders still bearish on canola
MarketsFarm — The managed money net short position in canola grew to nearly 50,000 contracts in the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). The net managed money short position in ICE Futures canola came in Tuesday at 48,777 contracts (3,932 long/52,709 short), an increase of about 10,000
A tale of two springs
This spring has created a sharp divide with some producers wrapping up, while others have been stuck
Growers would greet a rainfall very differently right now, depending on where they are in the province. For producers in the southeast and the eastern stretches of central Manitoba, rain is probably a welcome sight with crops in the ground and little precipitation so far this spring. Others, who have watched equipment sink down to
Despite low rates, farm interest costs ballooned in 2019
Farm income may have been up in 2019, but expenses kept pace, according to government figures. Both cash receipts and operating expenses after rebates for Canadian farmers were up six per cent to $66 billion and $53 billion, respectively, according to Statistics Canada. One of the biggest increases in expenses was interest, up almost $600
Traders’ optimism for canola is short lived
Hopes of Chinese demand for U.S. soybeans have also faded as tensions mount
Things were looking rather good for canola during the first part of the week of May 25 — then prices dropped almost immediately on May 27 after a ruling was announced on the extradition of Meng Wanzhou. Canola, as it so often does, had been riding the coattails of soyoil on the Chicago Board of
High winds, recent frost hurts crop development
Manitoba Crop Report and Crop Weather report for June 2
Southwest Region Some scattered showers in the southwest region last week. St. Lazare and Russell received 4 to 7mm respectively. Crops need some good moisture in some areas of the region, as soil surface is quickly drying with very windy conditions. Temperatures were variable throughout the week. Daytime highs were normal; while nighttime lows dropped
Frost was mostly light, but check your fields for other crop stressors right now
Flea beetles and cutworms are on the rise, while packed soils and dry hot winds are other things to watch for
[UPDATED: June 2, 2020] Potential frost damage might be the least of the many crop stressors Manitoba farmers see as they scout their fields the next several days. “Frost is just one of the factors we’re looking for right now,” Anastasia Kubinec, Manitoba Agriculture and Resource Development’s (MARD) Manager of Crop Industry Development, said in
Cyber-Savvy Farmer
