GFM Network News

Normal fall run traffic seen despite early cattle sales

Normal fall run traffic seen despite early cattle sales

Feedlots Down East have dialed up demand compared to last year

The Thanksgiving long weekend did little to slow activity at Manitoba’s cattle auction yards, with larger volumes and relatively solid prices reported across the province as the cattle market works through the annual fall run. “It’s October, it’s fall run time, there’s no way we can take a week off,” said Allan Munroe of Killarney

A worker moves a crude palm oil tank in Thailand’s Petchaburi province on Jan. 14, 2008. Buoyed in part by the current energy crisis, Malaysian palm oil futures have risen recently to record levels, providing some support for other vegoils.

Chicago soy drags, other vegoils support canola

Bearish data from USDA has knocked CBOT soybeans way down

ICE Futures canola contracts fell off of the top edge of their well-established trading range during the second week of October, but the losses were short lived with a number of underlying influences keeping the market well supported. Traders were busy during the week, rolling their positions out of the nearby November contract and into

While expectations for a way smaller crop remain supportive, canola values may not have much room left to the upside.

Demand for canola seen retreating with supplies

Incoming U.S. soy crops will have a seasonal influence on oilseed values

ICE Futures canola contracts held rangebound during the week ended Sept. 24, with seasonal harvest pressure on the one hand, countered on the other by the fact that the crop coming off the fields is extremely small. The November contract has held in a sideways range between $850 and $920 since the middle of July.

Consensus in the grain trade suggests StatsCan’s latest estimate predicting a 14.7-million-tonne canola crop this year will turn out to be generous in hindsight.

Canola demand rationing already underway

ICE November canola has dipped to around the $850-per-tonne mark for now

ICE Futures canola contracts fell sharply lower during the week ended Sept. 10, hitting their weakest levels in a month as speculative profit-taking weighed on the market. From a chart standpoint, November canola fell below both its 20- and 50-day moving averages during the week, which was bearish from a technical standpoint. However, it found some support around

A grasshopper perches on a drought-stressed spring wheat plant near Bowdon, N.D., about 220 km south of Boissevain, on July 28.

Expectations low for canola, wheat estimates

ICE canola awaits direction, while MGEX spring wheat has plateaued

This year’s drought seriously cut into Canadian crop production, although the full extent of the damage remains unknown as harvest operations continue across the Prairies. That production uncertainty has been a supportive feature in the canola market for some time and should continue to be. That said, the upside may be limited, as demand is

Any rain now will be too little, too late, and could just exacerbate the problem by delaying harvest operations.

Poor yield expectations starting to hit canola market

While estimates still vary, canola yields are expected to fall short of initial estimates

The ICE Futures canola market moved steadily higher during the first week of the new 2021-22 crop year, recovering from one-month lows as the disappointing state of this year’s crop became clearer. Opinions on just how small canola production will be this year are still wide ranging, but the 19.9-million-tonne preliminary estimate from Agriculture and

How low will canola yield go?

How low will canola yield go?

Canola has certainly suffered under drought. How much is yet to be seen

Hot and dry weather across most of the major North American growing regions remained the major topic of discussion in the grain and oilseed futures markets during the last week of July. The drought will certainly cut into the size of this year’s canola crop, but by how much? The 19.9-million-tonne forecast by Agriculture and

The general consensus within Canada’s grain trade is that Western Canada’s crops are unlikely to see much improvement from current conditions at this time.

Latest federal supply/demand numbers way above expectations

Canola’s underlying fundamentals remain supportive

The ICE Futures canola market fell off its highs during the week ended July 23 as a slight improvement in Prairie weather conditions was enough to spark a selloff. Activity in outside markets contributed to the losses, but the underlying fundamentals remain supportive for the Canadian oilseed and canola managed to find its legs as

Dry conditions support cattle auction traffic

Dry conditions support cattle auction traffic

Solid demand remains supportive for prices

Dry pastures and mounting concerns over feed availability going forward kept cattle moving through the auction yards still open in Manitoba during the first week of July. Prices held relatively steady for most classes of feeder cattle, while large numbers put some pressure on the butcher trade in some cases. “Usually we’d take every second

As the mercury spiked, so did canola futures, during the last week of June.

Weather continues to drive grain markets

Many ICE canola contracts saw new highs during heat wave

Canola futures rose with mercury levels during the last week of June, as Western Canada baked in a ‘heat dome.’ The hot temperatures and lack of moisture were stressing crops across the Prairies, sending many contracts on the ICE Futures platform to new highs. The November canola contract climbed above C$800 per tonne during the