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
Latest federal supply/demand numbers way above expectations
Canola’s underlying fundamentals remain supportive
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
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
Commodity sell-offs drag oilseeds, grains lower
Underlying market fundamentals remain supportive
North American grain and oilseed futures were in free-fall mode during the week ended June 17, with November canola losing nearly $100 per tonne in the span of five trading sessions. Soybeans, corn and wheat futures in the U.S. also found themselves in a tailspin as speculative long liquidation built on itself in the grains
Increasing feed costs could temper cattle market strength
Strength in the Canadian dollar may also drag on beef cattle traffic
Prices for cattle moving through Manitoba’s auction yards held relatively steady during the week ended June 11, although activity was slowing down for the summer. Good rains during the week across much of the province should help ease concerns over dry pastures and forage crops, although more moisture will be needed going forward. Strong demand for beef has
Traders largely abandon old-crop July canola
New-crop crush margins imply canola is still relatively cheap
The ICE Futures canola market moved higher during the first week of June, as a heat wave heightened dryness concerns across the Prairies. With North American seeding operations nearing completion, attention in the agricultural futures should be squarely on weather forecasts heading into the summer months. Environment Canada issued heat warnings across all of Western Canada, while
Canola trade’s focus turns now to new-crop prospects
A stronger loonie may limit export interest
The ICE Futures canola market was mixed during the week ended May 21, with the bias lower in the most active new-crop months as commercial traders turn their attention away from the volatile old-crop July contract. July canola futures saw both limit-up and limit-down moves during the week, as traders on both sides of the
Canola values try to ration demand as stocks tighten
Chicago soy and corn are running at eight-year-plus highs
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
Canola’s underlying supports remain unshakeable for now
U.S. soy and corn values are also hitting multi-year highs
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
Old-crop canola trends upward through volatility
Traders’ attention is now focused on the new crop – and its potential limitations
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
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