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If canola continues to disappear at its current rate, we would wind up with available supplies of negative half a million tonnes by the time a new crop is ready.
Grain Markets, Markets

Canola values try to ration demand as stocks tighten

Chicago soy and corn are running at eight-year-plus highs

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The ICE Futures canola market continued its meteoric rise during the first trading week of May, as the ongoing story of tight supplies remained supportive. Statistics Canada confirmed the tightening supply situation with its latest stocks report, released May 7. Total canola supplies in the country as of March 31 were pegged at only 6.6
Wheat was expected to be the big loser to canola in the battle for Prairie acres, ahead of StatsCan’s latest estimates.
Grain Markets, Markets

Canola’s underlying supports remain unshakeable for now

U.S. soy and corn values are also hitting multi-year highs

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Another week, another round of record highs in the ICE Futures canola market, as prices kept exploring uncharted waters. The last time canola rallied to the same extent was in 2008, but at that time the market topped out more than $100 per tonne below current levels. The 2008 rally was largely driven by speculative
Much of the Prairie region is heading into seeding experiencing varying levels of drought, which may be a factor guiding new-crop values in coming months.
Grain Markets, Markets

Old-crop canola trends upward through volatility

Traders’ attention is now focused on the new crop – and its potential limitations

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A ‘casino,’ a ‘craps table’ or just plain ‘crazy’ were some of the words traders and analysts used to try to explain activity in the ICE Futures canola market during the first full week of April. Futures saw some wild price swings on an hour-by-hour basis during the week ended April 9, but the general
Pre-Easter lull and weather hit cattle market volume
Livestock Markets, Markets

Pre-Easter lull and weather hit cattle market volume

Despite scant supply, prices held up nicely

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Aspring snowstorm and holiday shutdowns ahead of the Easter long weekend limited activity at Manitoba’s cattle auction yards during the week ended April 1, but prices — for what moved — were solid. Snow and strong winds led to highway closures across the Prairies on March 29 to 30. “Producers didn’t want to take their
Canada needs a large canola crop this year to restock tight supplies, which doesn’t change the fact that the crop remains expensive to grow.
Grain Markets, Markets

Canola traders’ attention now turns toward new crop

Upcoming U.S. data could provide some direction in the near term

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It’s very hard to know what’s going on,” one trader said of the volatile ICE Futures canola market during the last full trading week of March, as prices were all over the place and a number of rumours circulated in the market. The nearby May contract traded within a $50-per-tonne range during the week, with
Auction action accelerates on warmer spring weather
Livestock Markets, Markets

Auction action accelerates on warmer spring weather

Buyers Down East are now more current in their cattle purchases

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Spring weather kept cattle auction yards across Manitoba busy during the last ‘official’ week of winter, as producers were busy moving animals before pastures green up and attention turns to field work. “It’s been an incredibly busy month all over Manitoba for cattle marketing ever since things warmed up after the cold snap,” said Allan
Recent old-crop supply projections from USDA were a non-event for grain markets, with the department’s forecast for new-crop acres due out at the end of this month.
Grain Markets, Markets

Canola trade turns attention to new crop

Any significant bearish threats for canola would come by surprise

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Commentary on canola futures may be starting to sound like a broken record, but at least it keeps skipping on a good part of the song. While canola did some profit-taking correction during the second week of March, the general uptrend remained intact and fresh highs were hit in many months during the week. The
Pipestone fire a loss for Manitoba markets
Livestock Markets, Markets

Pipestone fire a loss for Manitoba markets

Top-end bids for feeder cattle show signs of coming off

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Manitoba’s cattle sector took a hit during the week as a fire destroyed the historic Pipestone Livestock Sales yard in the southwestern corner of the province. The blaze started at around 6:30 p.m. on March 1, with over 80 per cent of the structures and equipment engulfed in flames and destroyed, according to owner Gene

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