Canadian canola exports in both 2023/24 and the upcoming new crop year are unlikely to live up to earlier expectations, causing ending stocks of the oilseed to rise, according to updated supply/demand estimates from Agriculture and Agri-Food Canada (AAFC), released May 21.
AAFC raises canola carryout projections, wheat to tighten
Timely rains boost Prairie chickpea prospects
Improved moisture conditions bode well for Saskatchewan chickpea production in 2024, with seeding operations for the crop nearing completion.
The ups and downs of canola futures markets
Changes in moisture fortunes shift markets
Canola futures hit their strongest levels of 2024 in early May before backing off those highs as losses in outside markets and improving Prairie moisture conditions slowed the upward momentum. July canola hit a session high of C$669.10 per tonne May 7, with the new-crop November contract hitting its year-to-date peak at C$682.10 per tonne.
What will drive grain prices higher?
Expert's Radar: Much of the recent news surrounds transportation in one way or another
Weather conditions through spring seeding will be a major market-moving factor over the next few weeks, but news on the transportation front may also sway values. Planes — The United States government announced long-anticipated guidance on its subsidy program for sustainable aviation fuel (SAF) on April 30. The announcement only covers the next year, but
ICE canola weekly outlook: Uptrend intact, but watching weather
ICE Futures canola contracts climbed to their highest levels of 2024 in early May before taking a step back on May 8. While the uptrend is still intact, improving moisture conditions across Western Canada could limit any further gains.
Wheat market breaks dormancy
Expert’s Radar: Markets climb out of rangebound position on news from around the world
After a long winter, plants are starting to shoot up. Similar activity can be seen in the wheat market. Values broke dormancy during the week ended April 26. Charts: Minneapolis spring wheat gained 55 cents per bushel in the span of a week, while Kansas City hard red winter wheat was up by 65 cents.
CBOT soybeans/corn rangebound, watching weather
Shifting weather forecasts have the potential to sway soybean and corn futures within sideways trading ranges over the next few weeks as farmers in the United States focus on spring seeding.
Seasonal outlook points to warmer Canadian weather
Warmer than normal temperatures are to be expected across most of Canada over the next three months, according to the latest long-range seasonal forecast from Environment and Climate Change Canada as of April 30.
What’s putting pressure on canola?
Expert’s Radar: The short answer is that export demand just isn’t there
After attempting to show strength for most of March and early April, the canola futures market took some hits, with the bias shifting lower once again. Old/new crop spread: Tightening stocks and the need to secure deliveries ahead of new crop availability often see old crop canola contracts trade at a premium to new crop
Canola net short position edges lower
The managed money net short position in canola futures edged lower in the latest reporting period, as fund traders covered some of their bearish bets, according to the latest Commitments of Traders report from the United States Commodity Futures Trading Commission (CFTC).
Cyber-Savvy Farmer
