The divergence between old- and new-crop canola contracts traded on the ICE Futures Canada platform experienced a bit of a widening during the week ended April 13, as concerns about the record usage pace buoyed the nearby May and July futures. The deferred futures were undermined by an improvement in the soil moisture situation on
Prairie precipitation spurs new-crop canola selling
Pre-seeding risk premium being built into canola
The nearby May and July canola contracts on the ICE Futures Canada trading platform suffered some minor declines during the week ended April 5, while the remainder of the futures saw small to modest advances. Profit-taking sparked some of the losses in the two nearby futures, as did an increase in hedge selling by grain
Values hold strong for replacement heifers, bulls
Cattle marketings in Manitoba during the week ended March 30 generally held the levels at which they’ve run over the past couple of weeks, though weather issues in certain parts of the province resulted in a slowdown in sales. “With the frost out of the ground earlier than normal, the excess moisture made a few
ICE daily canola open interest nears record levels
Canola open interest on the ICE Futures Canada trading platform is within striking distance of establishing an all-time new record high, based on data from the exchange. Daily open interest in all canola futures months totalled 211,501 contracts on Wednesday. While that was down from the April 2 level of 213,363 contracts, it was very
Old-crop canola contracts resist downward pressures
ICE Futures Canada canola contracts started the week ended March 23 strong, but finally ran into resistance to post their first weekly declines in nearly two months in the old-crop contracts. However, even the correction lower was short lived, as Friday saw the market attempt to retest those earlier highs. Overbought price sentiment and pent-up
Rising canola futures find point of resistance
Canola futures on the ICE Futures Canada trading platform moved higher during the week ended March 16. Concerns about the record pace of usage and the resulting depletion of old-crop canola stocks stimulated some of the upward price action. Chart-related speculative fund buying interest also contributed to the price advances. Much of that buying was
Latest Ag Canada forecast ups 2012-13 grain and oilseed production
Agriculture and Agri-Food Canada has slightly increased its production estimates for the major grains and oilseeds for the upcoming crop year, which starts in August. The latest estimates from its market analysis division pegs total production at 70.320 million tonnes, up slightly from its February forecast of 70.120 million tonnes and 2011-12 production of 65.856
Ont. winter wheat breaking dormancy early
Warmer-than-normal temperatures in Ontario are reported to have helped the winter wheat crop in the province break dormancy earlier than usual. "There is certainly some wheat green up with growth dependent on the region of the province," said Peter Johnson, a cereals specialist for the Ontario Ministry of Agriculture. However, while the crop has come
“Fairly aggressive” marketings trump strong loonie
Values for cattle sold at the various auction marts in Manitoba continued to hold strong levels during the week ended Feb. 24, as demand from all outlets remained fairly aggressive. Prices for cows also held their own during the reporting period. Marketings of cattle, overall, remained at a pretty healthy pace, with favourable weather conditions
Canola cools off as Canada’s crushers curb demand
Canola futures on the ICE Futures Canada trading platform managed to hold on to small gains during the week ended March 2. Fresh export demand from Mexico, along with some pretty good chart-based speculative demand, facilitated the upward price action. Concerns about dry conditions heading into spring seeding on the Prairies helped to influence some
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