MarketsFarm — The net managed money short position in canola rose slightly in late April, while soybean speculators covered some of their bearish bets, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). The net managed money short position in ICE Futures canola came in Tuesday at
Funds add to short position in canola, move to net long in soy
ICE weekly outlook: Demand keeps canola well supported
MarketsFarm — ICE Futures canola contracts moved higher during the week ended Wednesday, holding above major support as end-users showed solid demand. “The demand side of the formula is still quite good,” said Errol Anderson, of Pro Market Communications in Calgary. Domestic crushers were showing the best demand, he said, but added that exporters were
Speculators turn bearish in soybeans, add to canola shorts
MarketsFarm — Fund traders have turned from a net long position to a net short position in Chicago soybeans while also adding to their bearish bets in canola, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). The net managed money short position in ICE Futures canola
Tighter canola stocks, more wheat in updated ag department tables
MarketsFarm — Updated supply/demand tables released by Agriculture and Agri-Food Canada on Wednesday include only minor adjustments to stocks and usage numbers, with slightly tighter canola ending stocks and a small increase in wheat supplies. Canola ending stocks for 2020-21 are forecast at 2.7 million tonnes in the updated tables. That would be down from
Feed weekly outlook: Slaughterhouse closures lead to adjustments
MarketsFarm — The closure of one of Canada’s largest beef slaughterhouses will lead to adjustments in the cattle feeding sector, as animals will be fed longer but on different rations. Cargill’s meat processing plant at High River, Alta. slaughters roughly 40 per cent of all the cattle butchered in Canada. The plant is to be
Funds add to net short position in canola
MarketsFarm — Fund traders put more new bearish bets on canola in the second week of April, adding to their net short position, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). The net managed money short position in ICE Futures canola came in Tuesday at 38,129
Logistics, lack of containers hamper pulse crop movement
MarketsFarm — Logistics disruptions due to COVID-19 are hampering nearby movement of pulses, according to a number of industry participants speaking Thursday on a webinar organized by the Global Pulse Consortium. However, the longer-term impact of the pandemic remains to be seen. “The shipping industry has been hugely impacted by COVID-19,” Chris Oliver, nautical director
CBOT weekly outlook: Poor ethanol demand weighing on corn
MarketsFarm — Losses in crude oil and ethanol have weighed heavily on grain and oilseed markets, with Chicago Board of Trade corn falling to fresh contract lows Wednesday. General uncertainty over COVID-19 is expected to keep a bearish tone in the market. “The big thing has been the overall slowdown in ethanol production,” said Tom
Funds still net-short on canola
MarketsFarm — Fund traders were on both sides of the canola market during the first week of April, reducing their net short position slightly, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). The net managed money short position in ICE Futures canola came in April 7
ICE weekly outlook: Canola market floating headline to headline
MarketsFarm — The ICE Futures canola market moved lower during the week ended Wednesday, but activity was choppy as futures reacted to broad swings in global financial markets. While the looming growing season should be starting to garner some attention, the COVID-19 pandemic “has grabbed all of the headlines and all of the oxygen out
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