GFM Network News


“When you have a basis that’s positive it’s something, but when it’s $100 a tonne that’s remarkable.” – Bill Craddock.

Old-crop canola price records keep falling

New-crop prices are strong, but how much will farmers sell given rising drought fears?

Bill Craddock has seen a lot in his 52 years speculating in grain futures markets, but never $1,000-a-tonne canola on the crusher’s driveway — until last week that is. On May 5 Manitoba farmers could lock in canola at $1,021 a tonne ($23.15 a bushel) with Altona crusher Bunge for delivery Aug. 1 to 15,

If canola continues to disappear at its current rate, we would wind up with available supplies of negative half a million tonnes by the time a new crop is ready.

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


Wheat was expected to be the big loser to canola in the battle for Prairie acres, ahead of StatsCan’s latest estimates.

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

Multiple factors push canola prices upward

Multiple factors push canola prices upward

Buyers are bent on sweeping out whatever’s left in bins

There was little doubt canola was to have been on the upswing for most of this week. Signs of forthcoming gains were evident on April 9 as prices moved well off of their lows, though canola contracts still finished that Friday with small declines. A number of factors have combined to rally canola this week.


Much of the Prairie region is heading into seeding experiencing varying levels of drought, which may be a factor guiding new-crop values in coming months.

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

Canola moved upwards in lockstep with soy futures after a surprising planting projections survey.

Up limit spike points to more acres needed

A key USDA report shocked the market and resulted in prices moving upward

Shock and awe rocked the markets on March 31 after the United States Department of Agriculture (USDA) issued its prospective plantings report. The first survey-based projections for 2021 caught the markets largely off guard that Wednesday, which sent prices to their daily limit in several commodities. That not only included the soy complex and corn

Canada needs a large canola crop this year to restock tight supplies, which doesn’t change the fact that the crop remains expensive to grow.

Canola traders’ attention now turns toward new crop

Upcoming U.S. data could provide some direction in the near term

It’s very hard to know what’s going on,” one trader said of the volatile ICE Futures canola market during the last full trading week of March, as prices were all over the place and a number of rumours circulated in the market. The nearby May contract traded within a $50-per-tonne range during the week, with


The canola market is weighing the notion that commercial traders, by means of high prices, have bought as much from farmers as they possibly can.

It wasn’t a great week for prices, especially old-crop canola

Other edible oils also ate their share of losses during the week

Rather than getting any St. Patrick’s Day luck, ICE canola futures took more of a hit from the Ides of March. Profit-taking was the main feature for the week ending March 18, which drove a knife into prices that had recently hit record highs. After trading above $800 per tonne to start the week, May