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North American Grain and Oilseed Review: Canola turns lower in final trading hour

U.S. soybeans, wheat higher as corn pulls back

By Glen Hallick, MarketsFarm WINNIPEG, Sept. 16 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures turned lower on Thursday, unable to fend off the downward pressure from declines in Chicago soyoil. Saskatchewan Agriculture issued its weekly crop report this afternoon, citing the province-wide harvest of all major crops was at 74 per cent complete. The combining

Consensus in the grain trade suggests StatsCan’s latest estimate predicting a 14.7-million-tonne canola crop this year will turn out to be generous in hindsight.

Canola demand rationing already underway

ICE November canola has dipped to around the $850-per-tonne mark for now

ICE Futures canola contracts fell sharply lower during the week ended Sept. 10, hitting their weakest levels in a month as speculative profit-taking weighed on the market. From a chart standpoint, November canola fell below both its 20- and 50-day moving averages during the week, which was bearish from a technical standpoint. However, it found some support around

ICE Canola Midday: Holding on to small gains

Markets need 'new fuel' says trader

By Glen Hallick, MarketsFarm WINNIPEG, Sept. 16 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were slightly higher at midday Thursday, in choppy trading that wasn’t getting a lot of direction from other markets. A trader commented that canola crashed by C$7 to C$9 per tonne at Wednesday’s close, but still finished a little stronger. “The

ICE canola stronger Thursday morning

By Phil Franz-Warkentin, MarketsFarm WINNIPEG (MarketsFarm) – The ICE Futures canola market was stronger Thursday morning after trading to both sides of unchanged in overnight activity. Canada’s drought-stricken crop remained supportive, with many in the industry anticipating actual production will end up below the already small 12.8 million tonnes forecast by Statistics Canada earlier in

North American Grain and Oilseed Review: Another day of gains for canola

A round of strong gains for U.S. soybeans, corn, wheat

By Glen Hallick, MarketsFarm WINNIPEG, Sept. 15 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were up on Wednesday, with spillover support from Chicago soybeans and soyoil, as well as other edible oils. However, canola prices backed away from earlier highs due to farmer hedging. A trader said the updated canola forecast put forth by Statistics


ICE Canola Midday: Prices pushing higher

Questions surround recent StatCanada report

By Glen Hallick, MarketsFarm WINNIPEG, Sept. 15 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were stronger at midday Wednesday, getting support from other edible oils, which have been on the upswing due to technical buying, according to a trader. However, canola backed off from earlier highs after the United States Department of Agriculture (USDA) announced

ICE canola continues higher early Wednesday

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Sept. 15 (MarketsFarm) – The ICE Futures canola market was stronger Wednesday morning, although off its overnight highs. Traders were still digesting Tuesday’s production estimates from Statistics Canada. The government agency pegged the canola crop at only 12.8 million tonnes, which would be the smallest since 2010. A mixed tone

North American Grain and Oilseed Review: Canola up, but well off of highs

Gains for U.S. corn, wheat, as soybeans dip

By Glen Hallick, MarketsFarm WINNIPEG, Sept. 14 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were stronger on Tuesday, but backed well away from earlier highs. At one point the November contract reached C$900.00 per tonne. Support came from the Statistics Canada production update, which lowered 2021/22 canola production from 14.7 million tonnes last month to


ICE Canola Midday: Prices get bump from StatCan update

Production falls from 14.7 million to 12.8 million tonnes

By Glen Hallick, MarketsFarm WINNIPEG, Sept. 14 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were stronger at midday Tuesday, but those gains have moderated from the earlier sharp upticks that followed the release of Statistics Canada’s production update. In its latest principal field crops report, Statistics Canada slashed 2021/22 canola production to about 12.8 million

ICE canola jumps higher as production drops

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Sept. 14 (MarketsFarm) – The ICE Futures canola market was sharply higher Tuesday morning, as the market reacted to declining production estimates from Statistics Canada. The government agency lowered their estimate on the size of the 2021/22 canola crop to 12.8 million tonnes. That was down by nearly two million