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Canola

On the morning of Dec. 30, the nearby January canola contract apparently hit a new all-time high. Photo: File
Crops, Markets

Tightening canola stocks projected, AAFC says

Wheat, barley, oat, pea stocks also projected lower

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MarketsFarm –– Canadian canola carryout supplies for the current marketing year will likely end up tighter than earlier expectations, according to updated supply/demand balance sheets from Agriculture and Agri-Food Canada (AAFC) that account for recent production and stocks data from Statistics Canada. Canola ending stocks for 2023-24 are now forecast to tighten to only one
(Viterra.ca)
Crops, Markets

Canada books stronger August deliveries of most major grains

Wheat, canola up; barley, durum down

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MarketsFarm — Deliveries of most major grains in Canada were higher in August than a year ago, according to Statistics Canada. The federal agency issued its monthly deliveries report on Tuesday, showing total deliveries last month came to 5.103 million tonnes, up nearly 15 per cent from the previous August. Wheat deliveries (excluding durum) tallied
(Richardson International video screengrab via YouTube)
Crops, Markets

Canola crush shows solid start in new crop year

Soybeans see lowest August crush ever

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MarketsFarm — Statistics Canada on Tuesday reported Canada’s second largest August canola crush on record. The 829,490 tonnes of the oilseed processed last month is only bested by the 830,335 tonnes in August 2020. The July 2023 canola crush set a new all-time record of 961,683 tonnes. Last month’s canola crush was 31 per cent
(File photo by Dave Bedard)
Crops, Markets

Funds flip back to net short in canola

Trade remains net long in soybeans, for now

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MarketsFarm — The overall fund position in ICE Futures canola flipped from a net long to a net short during the week ended Tuesday, marking the first net short position in the commodity in just over two months, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As
Canola goes down in central Manitoba in early September. A tall crop causes problems for some producers.
News

Growers struggle with high-biomass canola

Although the reason isn’t clear, Manitoba’s canola fields got tall and that’s been a headache for harvest 2023

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Manitoba canola growers face some frustration on the swather this year. Many have had trouble getting the crop through the machine. “In Manitoba this year, our canola is very tall,” said Courtney Boyachek, agronomist with both the Manitoba Canola Growers and the Canola Council of Canada. “I’m not a very tall person, but when I can walk into the field and
A canola swath in south Saskatchewan on Aug. 27, 2023.
Grain Markets, Markets

Canola markets sag, then recover

Pace of canola exports slows, wheat markets reflect stock cuts

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ICE Futures canola contracts hit their weakest levels in two months in early September but eventually managed to uncover support and move off those lows, despite ongoing seasonal harvest pressure. Statistics Canada released its second model-based production estimates for the 2023-24 crop on Sept. 14, pegging the country’s canola production at 17.4 million tonnes. That was down by about
ICE November 2023 canola with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets

ICE weekly outlook: Which way will canola go?

Basis levels have recently improved

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MarketsFarm — As September winds down, ICE Futures canola is poised to either climb higher or fall back, according to analyst Errol Anderson, president of ProMarket Communications in Calgary. That movement will largely be determined by the direction taken by November soybeans on the Chicago Board of Trade, which currently has support at US$13 per
Average protein levels in wheat are reportedly on the low side elsewhere in the world.
Grain Markets, Markets

Last year’s supplies can come in handy

Expert's Radar: Dry conditions may lift wheat protein levels

By
The back-to-school season is a time of beginnings as kids return to classes with new shoes and fresh haircuts, but also a time of endings as the carefree days of summer vacation are replaced by bells and schedules once again. On a last-minute trip to restock on paper and pens, I found someone’s lengthy list
(Dave Bedard photo)
Crops, Markets

Fund long position drops in canola

Net long in CBOT soybeans also down on week

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MarketsFarm — Fund traders have been busy liquidating long positions and putting on new bearish canola bets in early September. The net managed money long position in the ICE Futures market dropping sharply during the week ended Tuesday (Sept. 12), according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission

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