GFM Network News

A Chinese ship is loaded with soybeans at the Brazilian Port of Santos.

Crush margins, currency, charts show support for canola futures

South American soybean production could bring pressure

Canola values were well supported during the first full trading week of 2020 and have the potential to rally $10-$15 higher. Technical charts have projected canola values reaching $490-$495 per tonne. Some growers have throttled back on selling their product to wait and see if this price range will be realized. Barring sharp sell-offs in

U.S. Plains wheat condition ratings decline in December

Condition ratings for winter wheat declined from late November to late December in most U.S. Plains states, the U.S. Department of Agriculture said Jan. 2, reflecting dry conditions in some areas. The United States is the world’s second-largest wheat exporter after Russia. The USDA issued its last national winter wheat ratings of the season on

While every year presents its own challenges and opportunities, a number of themes kept reappearing with only slight variations.

Looking back at the decade that was in grain markets

As the ‘teens come to a close, it’s been 10 years of enormous change

The more things change, the more they stay the same.’ There was no shortage of market moving topics to write about over the past decade, from the demise of the Canadian Wheat Board to the rise of tweet-based international diplomacy, but did anything really change? Grain and oilseed prices had their ups and downs, but

ICE canola futures remain rangebound

Talk of more trade talks supports Chicago futures

The ICE Futures canola market flatlined during the second week of November, trading within a rather narrow sideways range and showing little incentive to break one way or the other. The steady tone came despite a sizable drop in Chicago Board of Trade (CBOT) soyoil prices, as world vegoil markets backed off nearby highs. Soyoil

Canola production on the Prairies takes a weather hit

But that effect on production may have already been digested by the market

Poor harvest weather definitely cut into the size and quality of this year’s Canadian canola crop, with a large percentage still in the fields heading into the end of October. However, that supportive supply-side story may be factored into the futures for the time being, with the market now in need of some fresh demand

Canola swaths under snow after a freak snowstorm in Manitoba Thanksgiving weekend.

Canola prices remain subdued despite weather

Growers break single-week record for canola deliveries

Canola values remained “not exactly lifeless” but rangebound during the week ended Oct. 18, seemingly unfettered by a less-than-ideal harvest season. A cold front and Colorado low hit Manitoba over Thanksgiving weekend, delivering up to 70 cm of snow in some regions. That ought to have introduced a weather premium into markets, as the canola

With the number of days in harvest 2019 diminishing, canola prices have had a recent lift.

As snow falls, canola market rises

Weather alone won’t sustain canola’s rally for long

An early winter storm on the western Prairies and persistent cool and wet conditions to the east put the brakes on harvest operations during the first few days of October, with canola futures finding some support on the back of adverse weather. After holding within a sideways trading range for the past three months, the

Harvest setbacks bring uncertainty to grain markets

Canola purchases from the EU have been supportive

Canola values remained sluggish and rangebound during the week ended Sept. 27, dampened by large carry-out stocks and uncertainty regarding 2019 production volumes. As harvest drags out across the Prairies, challenging weather conditions could begin to harm crop quality. While Statistics Canada earlier in the month predicted canola production to be around 19.358 million tonnes,

China grants waivers on U.S. soybeans

China is clearing the way for importers to buy U.S. soy exempt from tariffs — sources

China has given new waivers to several importers to buy U.S. soybeans exempt from retaliatory tariffs, in a goodwill gesture ahead of high-level trade talks next month, two sources familiar with the matter said Sept. 24. The waivers, offered in two batches, total around five million to six million tonnes, according to one of the