Canada’s canola crop is still some time away from harvest, with plenty of opportunities for a weather scare to materialize. However, relatively benign conditions for the time being were enough to weigh on the futures during the week ended July 22. Prices fell below psychological support to their softest levels in six months. The November
Canola futures slip below psychological support levels
Despite the yield outlook, canola’s supply-demand balance remains tight
Traders shed long positions in grain, oilseed futures
The canola trade is now net short for the first time in two years
Broad swings in global energy and financial markets in the first week of July led to erratic activity in grains and oilseeds. Many commodities saw large amounts of speculative money flushed out as concerns over a possible global recession sparked a round of long liquidation. ICE Futures canola fell to its weakest levels in more than five months but was showing signs of
Feeder and butcher cattle see market strength
Best quality animals head east, lower quality go west
Activity at Manitoba’s cattle auction yards has slowed down for the season, but feeder and butcher cattle coming to market in late June were being met with solid demand and relatively strong prices. Many yards have closed for the summer but a few run on a reduced basis through July and August. Scott Anderson of
U.S. soybean acres come in below expectations
MarketsFarm – Farmers in the United States seeded fewer soybean acres than original intentions and slightly more corn, according to updated acreage estimates from the U.S. Department of Agriculture, released June 30. Total soybean area in the country for the 2022 growing season was pegged at 88.30 million acres by the government agency. That compares
Commodities tumble in tough week
Seasonal effect enhanced by inflation concerns and rising interest rates
What goes up, must come down’ may be a tired cliché, but it proved true in the grain and oilseed markets once again as summer officially begins. Canola, soybeans, palm oil, wheat, corn — you name it, and it fell hard during the week ended June 23. The seasonality of the North American agricultural markets
Speculators bail out of long positions in canola
MarketsFarm – Speculators continued to bail out of long positions in the ICE Futures canola market during the week ended June 21, according to the latest Commitment of Traders (CoT) report compiled by the United States Commodity Futures Trading Commission (CFTC). The net managed money long position in ICE Futures canola came in at 25,117
Grain traders look past delays to focus on seeded crops
Canola values have dropped below some key chart points
Time may be running out for spring seeding in Manitoba, while the northern U.S. has faced similar delays, but the futures markets are generally looking past the poor planting progress to focus on conditions for what’s in the ground. Outside factors, such as the ongoing war in Ukraine, are also accounting for much of the
Feeder cattle, butcher cows still in demand
Gathering sufficient cattle to ship east or south is difficult
Activity may be winding down for the season at cattle auctions around Manitoba, but the butcher and feeder cattle still moving through the rings were still seeing solid demand in late May/early June. Heavy volumes of butcher cattle stood out to Allan Munroe of the Killarney Auction Mart, who added that “they’re worth some money
Grain markets: Risk-averse sentiment reaches canola trade
It still holds true that what goes up, must come down — but whether it stays down remains to be seen as the ICE Futures canola market enters another uncertain growing season. The old-crop July canola futures hit a contract high of $1,219 per tonne on May 17, but was about $70 off that level
Spring seeding conditions likely to sway markets
Canola values are recovering up off a hard drop
The ICE Futures canola market dropped hard to start the month of May, seeing heavy bouts of long liquidation as profit-taking finally came forward to weigh on values. However, with no change to underlying fundamentals, the selling quickly ran out of steam and the futures managed to regain much of their lost ground. July canola
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