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Canada’s canola industry is also looking to an increase in demand from the biofuel sector, with several projects in the works.
Grain Markets, Markets

U.S. renewable fuel mandate muddies demand outlook

New-crop canola is above $700 but it’s hitting resistance

By
After trending higher for all of June, the ICE Futures canola market finally ran into resistance as the calendar officially switched to summer. Weather was at the forefront of all the North American agricultural markets, closely followed by a much-anticipated biofuel announcement from the U.S. Environmental Protection Agency. From a chart standpoint, the new-crop November
Soil cracks around corn plants below knee-high at Manchester Township, about 130 km west of Philadelphia in southern Pennsylvania, on June 6.
Grain Markets, Markets

Dryness leads to spike in weather market

Several canola contracts punched up above $700

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Growing concerns over dry conditions in North America, as well as parts of Europe, Argentina, Malaysia and elsewhere, led to a spike in oilseed and grain prices. That was particularly felt on June 15 when North American markets spiked upward and saw ICE Futures canola jump more than $20 per tonne for the most heavily-traded
Local residents on June 9 evacuate cattle on a barge from the Mykolaiv-region village of Afanasiivka, which was partly flooded in the Nova Kakhovka dam breach amid Russia’s attack on Ukraine.
Grain Markets, Markets

Floods, dryness, data wear on wheat

Crops in Ukraine, China and North America face pressures

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If one were to describe the wheat price situation using movie titles, the best pick would be Everything Everywhere All At Once. Prices were already affected by weather and the near-end of the spring wheat planting season. The U.S. Department of Agriculture’s monthly world agricultural supply/demand estimates were released June 9 and the U.S. Federal
Grain Markets, Markets

Wheat crops look greener beyond North America’s fence

Expert's Radar: Longer-range Prairie weather outlooks suggest more hot and dry

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In the microclimate of my Winnipeg yard, there are some sunny spots that are better for growing tomatoes and shadier areas where lettuce thrives. There’s one section around the compost bin overrun with raspberries that could use some trimming, but the fruit pairs well with the rhubarb along the fence. The garden is mostly in,
If sufficient rain doesn’t reach newly seeded Prairie crops in a timely fashion, canola futures may finally break higher.
Grain Markets, Markets

A short but tough week for canola

Another year of tight canola stocks predicted

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There wasn’t much to prop up canola values on ICE futures over the shortened week of May 23. As of May 25, the two most actively traded contracts, old-crop July and new-crop November, fell back by $11.20 and $14.40 per tonne respectively. That’s despite the former poking its head above the psychological level of $700/tonne
Farmer Steve Timmer plants corn near Shelby in Richland County, Ohio, about 110 km north of Columbus, 
on April 19.
Grain Markets, Markets

Grain traders cover some risk as planting continues

Canola contracts show strength independent of other oilseeds

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North American grain and oilseed contracts saw choppy activity during the second week of May, moving up and down as the growing season for most crops got underway and traders looked to cover some risk in the face of uncertainty. For its part, the ICE Futures canola market showed independent strength relative to other vegetable
Ceres Solutions agronomist Betsy Bower shows a soybean seedling dug up in a recently planted field at Terre Haute in western Indiana on April 19.
Grain Markets, Markets

Canola on the verge of a good spring

The resistance level is now believed to be around $750

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As canola pulled away from its support level of $680 per tonne early in the week of May 1, the oilseed trade was muddled. Signs of that cropped up in the May 3 morning trading session, when it bounced on either side of steady. That again occurred May 4 and lasted most of the day.
Canola sees short-term gain, long-term pain
Grain Markets, Markets

Canola sees short-term gain, long-term pain

The latest StatCan survey piled on other bearish factors

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If Statistics Canada estimates are correct, this year’s domestic canola crop will continue the oilseed’s ongoing acreage recovery since Western Canada’s historic 2021 drought. Last week StatCan released its first survey-based seeding intentions report for 2023-24, projecting canola area to increase by 0.9 per cent from 2022-23, to 21.597 million acres. This might be an
Canola demand equal to winter canola influx
Grain Markets, News

Canola demand equal to winter canola influx

Biofuel markets are on the rise and there’s probably more than enough demand to go around

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Rising demand for oil due to the biofuel market will likely swallow any influx American winter canola might produce, experts say. “I think we’ll need all the supply that we can get,” said Curtis Rempel, vice-president of crop production and innovation with the Canola Council of Canada. Why it matters: Winter canola is being promoted

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