Soybean futures at the Chicago Board of Trade climbed to fresh contract highs during the first week of February before running into some resistance. The Canadian canola market was also strong, but held well below its own highs as the relationship between the two commodities experienced some adjustment. Canada’s tight supply situation has been well
Canola hews closer to soybean market
Soy has rallied on South America’s weather worries
Oilseed price trends remain on upslope
Canola’s highs may be in, at least for the time being
The ICE Futures canola market has seen some wide price swings to start the new year, hitting contract highs then falling $80 per tonne off of those highs in the front month before eventually rebounding to be right back around where they started the year (as of Jan. 20). Such large swings are to be
Cold snap drags on cattle market movement
Prices at Manitoba auctions showed some strength, however
Winter weather kept activity on the quiet side at many Manitoba cattle auctions during the week ended Jan. 14 as sales slowly pick up to start the new year. “The cold and the wind… backed some guys off until the upcoming week,” said Allan Munroe of Killarney Auction Mart. While only 251 cattle were on
Demand rationing still shows in canola market values
Don’t expect much export traffic in Canadian canola for now
The ICE Futures canola market started the new year much the same as it ended the old, trending higher in an ongoing effort to ration demand in the face of tight supplies. That underlying sentiment should remain a supportive influence over the next few months, although outside influences do have the potential to trigger short-covering
Canola crunch seen easing: USDA
Large canola and sunflower harvests elsewhere to offset poor Canadian production
MarketsFarm – Good canola/rapeseed crops in Australia and a number of other parts of the world along with large world sunflower seed production should help offset Canada’s small production somewhat, according to the December Oil Crops Outlook from the United States Department of Agriculture. Total global canola/rapeseed production is now forecast at 68.35 million tonnes by the
Prairies’ drought outweighed COVID among market movers
Canola speculators still held large net long positions heading into 2022
The Prairie drought was the major market-moving story of the year for Canada’s grains and oilseeds in 2021, even supplanting the ongoing worldwide pandemic as the primary topic of discourse for much of the year. While the uncertainty of the global reaction to new variants will keep COVID-19 as an influence in the financial markets for some time,
Canola well supported despite profit-taking
New data on global oilseed stocks may take on added importance later
The ICE Futures canola market came under some pressure during the week ended Dec. 10, as speculators booked profits on their large net long positions and the months-long uptrend showed signs of faltering. After a year of unprecedented strength all of the bullish news should be well known for canola. The tight supply situation was confirmed by Statistics
Fall cattle run slows to jog in Manitoba’s south
Fewer trucks are available to move cattle to Ontario
Cattle continued to move through the rings at Manitoba auction yards as the calendar turned from November to December — although numbers should start to back off as the holiday season approaches. “We had decent numbers this week,” said Rick Wright, senior Manitoba buyer with JGL Cattle. He expected numbers in the more northern yards, such as Ashern
ICE canola gains outpace CBOT soybeans
January canola punched above $1,000 before Remembrance Day
A bullish report from the U.S. Department of Agriculture helped soybean futures at the Chicago Board of Trade recover off of 10-month lows during the second week of November — but the ICE canola market easily outpaced the soy complex to the upside, as a number of independent factors helped the Canadian oilseed hit fresh
Cattle prices steady to firmer
Seasonal lows could be in — at least for the time being
The fall run remained in full effect at Manitoba’s cattle auction yards during the first week of November, although activity should be slowing down over the next few weeks. Prices were generally steady to firmer for most classes of feeder cattle during the week, with the seasonal lows possibly in for the time being. Feeder
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