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Canola

Managing farm data needs to get simpler and connectivity must grow before digital agriculture can truly take off.
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The roadblocks to digital agriculture

What’s it going to take for agriculture’s ability to use data to catch up to its ability to gather it?

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You’d be hard-pressed to find a farmer who has bought into digital agriculture more than Rick Rutherford has. The seed grower and owner of Rutherford Farms has spent over a decade collecting data on his operation northwest of Winnipeg near Grosse Isle. He’s partnered with digital ag accelerator EMILI (Enterprise Machine Intelligence and Learning Initiative)
Canola crush margins are already historically wide and domestic processors show good demand.
Grain Markets, Markets

Fund traders not looking to lose their shorts

Signs of a corrective bounce exist, but so does a record-high net short

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ICE Futures canola contracts lost roughly $150 per tonne over the past two months, as speculators put on large short positions and exaggerated the seasonal harvest pressure. Values hit fresh four-month lows as the calendar flipped to November, but the market was also showing signs of a possible corrective bounce. The most active January contract
ICE January 2024 canola with 20-day moving average (yellow line, right column) and CBOT January 2024 soybeans (green line, left column). (Barchart)
Crops, Markets

ICE weekly outlook: Soy complex supporting canola

'Canola has been largely pulled up'

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MarketsFarm — Amid falling crude oil prices, canola prices are staying strong, largely due to the Chicago soy complex, according to a Calgary analyst. Errol Anderson of ProMarket Communications has been impressed with canola’s recent rise. The January contract on ICE Futures was as low at $672 per tonne on Nov. 2 before rising to
“This is the part of the message nobody wants to hear, but there are some fields that aren’t suitable for things like soybeans and corn if they deal with higher levels of background salinity.” – Marla Riekman, Manitoba Agriculture.
Crops

Leaching dollars: Salinity and high-value crops

Salinity can only be managed, not fixed, so every acre is not a soybean acre

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Manitoba’s weather patterns leave fields at risk for salinity to rear its head. Salinity is a water problem, not a salt problem, said Manitoba Agriculture soil management specialist Marla Riekman. It’s a symptom of big variation in water table levels, wherein rising water brings up dissolved minerals, only to orphan them high in the soil
(File photo by Dave Bedard)
Crops, Markets

Net speculative short position in canola tops 100,000 contracts

Net long increases in CBOT soy

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MarketsFarm — Speculative fund traders continued to add to their large short positions in canola futures during the last week of October, taking the net managed money short position over 100,000 contracts for the first time on record, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As
Green soybean plants
Grain Markets, Markets

Grain traders turn gaze southward

Expert's Radar: Rains have been helpful for Argentina and Australia

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Most of the Canadian Prairies were blanketed with snow during the last week of October, which likely had many people dreaming of vacations to warmer climates to the south. With the Canadian harvest all but wrapped up, and the United States in its final stages, the grain markets are also shifting their attention southward. Argentina
The October supply and demand report from AAFC had little effect on canola’s price movements.
Grain Markets, Markets

It wasn’t a good week for canola prices

The soy complex drags on canola values

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Canola prices for the week ended Oct. 26 took a hard hit, with the front contracts falling well below the psychological support level of $700 per tonne. A big reason for those declines was canola’s faithfulness to the soy complex on the Chicago Board of Trade, and in particular soyoil.  The path taken by the latter
ICE January 2024 canola with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets

ICE weekly outlook: Falling canola market seeks support

Canola seen as 'fairly cheap' but not attracting interest

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MarketsFarm — The ICE Futures canola market continued its months-long downtrend as the calendar flipped over to November, with the futures looking for an outside catalyst to spark a corrective bounce. While canola has seen occasional attempts at correcting higher over the past two months, any gains proved short-lived. “The oilseeds are very swingy and
Grain market relativity
Grain Markets, Markets

Grain market relativity

Expert’s Radar: The difference between contract months may indicate level of demand

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On the Prairies, distance between two places can be measured in many ways, and the official unit of kilometres is among the rarest. Grid roads were established every mile well before the introduction of the metric system, while time as a distance measurement is even more common. “It’s about 20 minutes away. Turn left, drive
(File photo by Dave Bedard)
Crops, Markets

Fund short position hits new record in ICE canola

Traders return to net long on soybeans

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MarketsFarm — The net speculative short position in the ICE Futures canola market rose to its largest level ever recorded as fund traders put on fresh bearish bets and liquidated previously placed long positions, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As of Oct. 24, the

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