As farmers contend with less-than-ideal canola yields, the main thing to keep in mind is the 2022-23 harvest will still be vastly better than last year’s. On Sept. 14, Statistics Canada issued its latest production report, following up on its previous one released Aug. 29. That one was based on satellite imagery taken at the
Canola yields not great, but good improvement
Harvest progress last week was well behind the five-year pace
CBOT weekly outlook: War chatter part of market chaos
Stronger U.S. dollar weighs on futures
MarketsFarm — With the daily talk about Russia’s invasion of Ukraine, Scott Capinegro, president of Barrington Commodities at Barrington, Ill., has a special term for its effects on the Chicago Board of Trade (CBOT). “I call it the Putin rally,” he quipped, referring to Russian President Vladimir Putin, but lamenting the chaos the seven-month-old war
La Nina set to continue for third year
Other weather patterns may override temporarily
MarketsFarm — With fall soon upon North America, there’s nothing overly unusual with the continuation of La Nina, according to Drew Lerner, president of World Weather Inc. at Overland Park, Kansas. Going into its third year, some people might think this is the third consecutive La Nina — but Lerner said it’s the same one,
Cattle trickle in, but soon to rise sharply
Heavy feeder steers and heifers show price improvements on the week
Most of Manitoba’s eight cattle auctions were in business during the week of Sept. 2-8, with cattle trickling in at some of the facilities — the exception being Ste. Rose Auction Mart, which on Sept. 8 sold 1,389 head. That equalled two-thirds of the week’s cattle. “The numbers aren’t really substantial yet. Nobody wants to be in the first sale,” said
StatCan’s canola call in line with expectations
Agency also boosts wheat projection
MarketsFarm — While Statistics Canada (StatCan) cut its projection for canola production in 2022-23 by 400,000 tonnes, FarmLink Marketing Solutions senior analyst Neil Townsend said the number could go lower. StatCan on Wednesday issued its latest production estimates and lowered its call on canola from the 19.5 million tonnes forecast in its Aug. 29 report
Canola falls back
Flagging fortunes for crude and vegetable oils alike have added pressure
Canola continued to fall back during the week ended Sept. 1, pulled lower by a number of factors. Over the course of the week, the nearby November contract lost $21.70 per tonne, to close at $812/tonne on Sept. 1. The January 2023 contract was down pretty much the same amount, losing $21.30 at $821/tonne. In
CBOT weekly outlook: More acres, smaller yields anticipated in U.S.
MarketsFarm — Ahead of the next supply and demand report from the U.S. Department of Agriculture (USDA), due out Monday, Allendale Inc. president Steve Georgy said corn and soybean acres are likely to increase, while yields are to decrease. Georgy projected USDA will up its call on U.S. planted corn acres by 200,000 to 400,000,
Prairies’ high-pressure ridge should give way by mid-month
Brisk harvest pace expected meanwhile
MarketsFarm — While there’s not one specific cause of the hot September the Canadian Prairies has generally been having so far, Weatherlogics chief scientist Scott Kehler notes one particular shorter-term factor. “There is a fairly strong upper-level ridge of high pressure across the Prairies right now,” he explained, adding it should dissipate by mid-month. The
Canola prices rangebound at start of harvest
The canola harvest on the Prairies is in its early stages and prices on ICE Futures remained rangebound over the course of the week ended Aug. 25. Canola has been up a little, down a little, a spike here, a bit of a drop there – that’s pretty much been the story ahead of the
ICE weekly outlook: Crush margins guiding canola demand
MarketsFarm — Enormous canola crush margins will lead to increased demand for the Canadian oilseed, according to MarketsFarm’s director of markets and weather Bruce Burnett. As of Tuesday, the nearby November-October margins were estimated at $215.51 per tonne, while the same position for November-October 2023 now stands at $124.48/tonne. This time last year their margins
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