CNS Canada –– Like a rock thrown in a lake creates ripples on shore, a new study commissioned by the Canola Council of Canada shows the sector’s impact is growing larger — causing ripples to turn to waves. Canola’s value to the Canadian economy has tripled over the past decade to $26.7 billion a year,
Canola’s impact shown throughout Canadian economy
CBOT weekly outlook: Traders look for fire behind the smoke
CNS Canada –– Rumoured changes to U.S. renewable fuels policy gave corn and soybean futures at the Chicago Board of Trade a boost this week — but it will likely take confirmed fundamental news for the advances to be sustained. The unconfirmed reports circulating the market on Tuesday were that U.S. President Donald Trump was
Wheat disease risk sees farmers looking to oats
CNS Canada — Canadian farmers are showing an increased interest in seeding oats this spring, despite a lack of activity from a pricing standpoint, as quality concerns in wheat and barley have growers looking to other cereals. “We are seeing a huge influx of acres into oats,” said Scott Shiels, grain procurement merchant with Grain
ICE weekly outlook: Canola sturdy, but watching beans
CNS Canada — ICE Futures Canada canola contracts drifted lower during the week ended Wednesday, but are still holding up rather well compared to the U.S. soy complex. “Canola is very sturdy,” said Ken Ball of PI Financial in Winnipeg, noting the Canadian oilseed has gained about $55 per tonne relative to the U.S. markets
Canola crush margins continue downward slide
CNS Canada — Canola crush margins have continued their downward slide, falling to their lowest levels in 10 months over the past week. As of Friday, the Canola Board Crush Margins calculated by ICE Futures Canada were at about $86 above the March contract, which compares with levels a month ago of roughly $126. Crush
Large number of vessels waiting to load at West Coast
CNS Canada — A large backlog of ships is waiting to load grain at Canada’s West Coast due to a combination of poor weather, early arrivals and railroad logistical issues. The Port of Vancouver lineup included 26 vessels as of Tuesday, according to the latest weekly report from the federal Grain Monitoring Program administered by
ICE weekly outlook: Canola runs into headwind
CNS Canada — ICE Futures Canada canola contracts are running into major upside resistance from a chart standpoint, with a turn lower more likely than additional gains in the near term. “The demand component for canola remains quite strong, although domestic crush margins have diminished,” said Mike Jubinville of ProFarmer Canada. Soyoil futures at the
‘Mini-harvest’ likely to weigh on feed grains
CNS Canada –– Seasonal lows in the Western Canadian feed grain market may stick around longer than normal this year, as the industry awaits the abnormal spring harvest of those fields left to overwinter this year. “The seasonals are fairly consistent,” said Jim Beusekom of Market Place Commodities in Lethbridge, adding “we usually see the
Ocean freight rates pointed down, but well off year-ago lows
CNS Canada — Ocean freight rates are trending down, but are still well off the record lows seen exactly a year ago. The Baltic Dry Index (BDI), compiled daily by the London-based Baltic Exchange, provides an assessment of the price of moving major raw materials by sea, including grain. The BDI was quoted at 702
CBOT weekly outlook: South American weather still key for soy, corn
CNS Canada — South American weather uncertainty is lending underlying support to soybean and corn futures at the Chicago Board of Trade, with speculators likely to remain on the long side until production issues are more clearly sorted out, according to an analyst. “The funds don’t want to give up the ship, and there’s enough
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