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
ICE weekly outlook: Crush margins guiding canola demand
Canola unlikely to see rebound
A new StatsCan crop report is due out next week
Ahead of the next principal field crop report from Statistics Canada, there’s some speculation that the 2022-23 canola crop could come in below 19 million tonnes. The thinking is some areas of the Prairies have received too much moisture, while other parts of the region didn’t get near enough. There was a suggestion that any
ICE weekly outlook: Time gap too large in StatCan report
Canola's potential yields shrank in meantime
MarketsFarm — There has been about a one-month gap in between Statistics Canada having gathered its data for next week’s principal crops report and actually releasing the report. That’s something trader Ken Ball of PI Financial in Winnipeg finds irksome. “They’re using computer models of some kind. You would think they could get this out
ICE weekly outlook: Canola could take a nosedive
'I think (farmers) are undersold'
MarketsFarm — A huge drop in canola prices could be looming, according to analyst Wayne Palmer of Exceed Grain in Winnipeg. Palmer pointed to Prairie farmers and said, “I think they are undersold.” He surmised too many farmers have held off from selling their canola, in hopes of getting a great price the next time
How quickly weather changes grain markets
Hot conditions in the U.S. a question mark for crop markets
Not long ago, canola tumbled from its four-digit highs as the markets conceded there were likely a lot more oilseed supplies in the world than initially believed. The sharp declines in Malaysian palm oil, European rapeseed and the Chicago soy complex pulled the Canadian oilseed well away from those stratospheric levels. Besides, canola and other
Few cattle come to auction, but in good shape
Feed grain prices have declined over the last month
Midsummer is a particularly slow time for Manitoba’s cattle auctions and the week ended July 21 was no exception. Of the province’s eight auction sites only one, Grunthal Livestock Auction Mart, had a sale. The auctions in Ashern, Gladstone, Killarney and Ste. Rose du Lac are closed for the summer. Heartland Livestock Services remained on
ICE weekly outlook: Upticks during a downturn not unusual
MarketsFarm – As prices fall back, an analyst said it’s very common for there to be occasional spike upwards, and that’s exactly what’s been happening to canola. “We’ve come down a long way and having a bit of a rally wouldn’t be unusual,” commented analyst David Derwin of PI Financial in Winnipeg, Man. “After we
Grain markets: Canola eases down, decent crop coming
The loonie’s downward shift was a supportive factor for canola values
After a tumultuous week of up and downs, it can be said that canola went pretty much nowhere. Forces that drove the Canadian oilseed on ICE Futures batted canola a little bit lower after the dust settled. In winding up the last days of trading during the week of July 4, canola made some decent
CBOT weekly outlook: Keep an eye on the weather
Corn, soy seen trending lower
MarketsFarm — As soybeans and corn trend downward on the Chicago Board of Trade, wheat is poised to climb higher, according to Andrew Mages, analyst with Progressive Ag at Fargo, N.D. The weather outlook has called for scattered showers over the next couple of weeks, which will impact crops in some way, he said. “The
Brazil seen adding wheat area, fewer acres in Argentina
MarketsFarm — As farmers in Brazil plant more wheat this year, their counterparts in Argentina are cutting back on the amount of acres they plan to sow — although Argentina will still grow a great deal more wheat than Brazil. Dr. Michael Cordonnier of Soybean and Corn Advisor Inc. at Hinsdale, Ill. said one reason
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