GFM Network News

Canola mostly pulls back after StatsCan estimates

Canola mostly pulls back after StatsCan estimates

FUTURES | Canola also remains subject to the Chicago soy complex’s complexities

Any hopes of canola getting a bounce on ICE Futures from Statistics Canada’s production report on Aug. 30 were largely dashed. The Canadian oilseed, for the most part, remained lower in the aftermath of the long-awaited report. The pattern repeated itself for a few days; for most of a session canola was pulled down by

(Photo courtesy Canada Beef Inc.)

Feed weekly outlook: Incoming corn pressures barley, wheat

MarketsFarm — Pressure from forthcoming corn imports from the U.S. have been driving down feed prices for barley and wheat in Saskatchewan and Manitoba, according to Evan Peterson, trader with JGL Commodities in Saskatoon. Meanwhile, prices in Alberta held steady. “We’re seeing some decent coverage right now on the feeder side. We’re waiting for the

Recent rain slows cattle rush at Manitoba auction markets

Recent rain slows cattle rush at Manitoba auction markets

Feeder cattle and calves show price strength

Recent rains in Manitoba have greened up pastures and in turn slowed down the number of cattle headed to market, said Kirk Kiesman, manager at Ashern Auction Mart. In light of the severe drought on the Prairies, and especially in the Interlake region of Manitoba, the Ashern market organized a number of auctions this summer.

ICE November 2021 canola (candlesticks) with 20-, 50- and 100-day moving averages (yellow, green and black lines) and CBOT October 2021 soyoil (blue line, left column). (Barchart)

ICE weekly outlook: Canola futures slide, cash prices might not follow

Weakness seen ongoing in soy complex

MarketsFarm — If the October soyoil contract on the Chicago Board of Trade (CBOT) falls to 55 U.S. cents/lb., it’s likely ICE Futures canola will drop to around $850 per tonne, according to analyst Errol Anderson of ProMarket Communications in Calgary. ICE November canola closed Wednesday at $890.80 per tonne, giving up $10.80 since the

Barley south of Ethelton, Sask. in early August 2017. (File photo by Dave Bedard)

Feed weekly outlook: No surprises in latest barley numbers

MarketsFarm — Following the release of monthly supply and demand estimates from Agriculture and Agri-Food Canada (AAFC) Thursday, Brandon Motz of CorNine Commodities at Lacombe, Alta. wasn’t surprised at how low the numbers dropped, particularly for barley. Motz commented the harvest hasn’t been as good as initially thought, noting the AAFC report confirmed the situation

Oilseed traders and analysts have heard anecdotal reports of single-digit yields from canola growers.

Canola remains the follower

Prices still must reflect that there won’t be enough canola to go around

Canola futures took a tumble at the end of this week as prices on the Chicago soy complex pulled back, with declines in European rapeseed and Malaysian palm oil adding to the mix. The Canadian oilseed demonstrated some independent strength as price rationing propelled values higher earlier in the week, but weakness in the other