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The latest activity in canola markets has more to do with speculators buying back short positions.
Grain Markets, Markets

Betting on grain markets

Expert's Radar: The spreads become important when trying to understand market action

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As a casual hockey fan who only pays real attention once the playoffs roll around, it’s been interesting to see the sheer number of sports betting ads, and even commentary, now that gambling on the outcome of individual games is legal in Canada. There are many ways to bet on sports. While simply picking which
Spring planting is proceeding in parts of the U.S. Midwest, including this field at Montgomery Township in northeastern Ohio’s Ashland County on April 19.
Grain Markets, Markets

Canola trade’s attentions turn to thoughts of spring

Planting is already underway in U.S. fields nowhere near you

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The ICE Futures canola market saw mixed activity during the week ended April 20, with the nearby May contract hitting both its highest and lowest levels of the past month as traders worked to exit the contract ahead of its expiry. The more-active deferred months were also up and down during the week, but held
There’s little doubt the abundance of oilseeds in the world market will weigh on prices.
Grain Markets, Markets

Total oilseed production eases back

USDA sees major drop in some production areas, but stays steady on Canadian canola

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REDUCTIONS USDA sees major drop in some production areas, but stays steady on Canadian canola

Production of the world’s oilseeds was trimmed back by the United States Department of Agriculture last week, which forecast 625.38 million tonnes for 2022-23 in its world markets and trade report. In March, the USDA pegged global production at 629.89 million tonnes. But despite the reduction in April, it’s still a significant increase from the
Recent price drops hide wheat’s weather situation
Grain Markets, Markets

Recent price drops hide wheat’s weather situation

Southern U.S. winter wheat-growing areas remain in drought

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As the calendar turned over to April, the focus for traders on the Chicago Board of Trade turned toward weather. There can be a tendency to either react based on recent weather events, ignore potential long-term weather trends, or both. In the case of wheat, the recent weakness shown in all three major U.S. varieties
Attention will turn to the weather as spring planting approaches.
Grain Markets, Markets

Canola futures edge downward after good run

New crop canola was especially hard hit and now the trade is watching weather

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As the old saying goes, all good things must come to an end. That’s exactly what happened to canola futures on the Intercontinental Exchange at the close of trading March 30, as the Canadian oilseed marked its first losses since March 22. That past Wednesday, the nearby May contract lost $9.40 to close at $720
Soybean complex crushed by selloffs
Grain Markets, Markets

Soybean complex crushed by selloffs

All eyes are on South America as the bean crop comes off

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Canola had another week of sharp losses before bouncing back with a double-digit gain on March 23, but the Chicago soy complex also had a week to forget. The May soybean contract fell to US$14.1950 per bushel at the end of March 23 after a one-day, 29-cent drop. It was the ninth negative session in
Soybean plants emerging from corn residue in a U.S. field. Traders are turning their attention toward North American weather conditions as southern states get into spring planting.
Grain Markets, Markets

Canola values end their slide

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After nine straight days of declines, the ICE Futures canola market finally saw a splash of green the day before St. Patrick’s Day. The most active May contract hit a session high of $829.50 per tonne on March 3, then proceeded to lose roughly $90 over the next two weeks. It hit a low of
An Australian canola crop near Smeaton, about 100 km northwest of Melbourne. Officials predict Australia’s canola harvest will hit 8.6 million tonnes, which could cut into Canada’s export prospects.
Grain Markets, Markets

Canola falls below $800 support level

A decline in Chicago soyoil values has kicked out a support pillar

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It finally happened: canola broke below its support level of $800 per tonne. For quite some time, the Canadian oilseed has been rangebound at $800-$900 per tonne. As with a stuck vehicle, that rocking back and forth gave way to old- and new-crop prices being pulled out of that rut. One element that provided the
A corn crop in the RM of St. Andrews on July 5, 2018. Current indicators suggest a rebound for corn futures off recent lows.
Grain Markets, Markets

Corn market cracks, but ready to pop

Current low prices may deter some U.S. farmers from planting corn

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Corn appeared to crack under pressure on the Chicago Board of Trade as February came to a close. Having traded between US$6.70-$6.90 per bushel for much of February, collapses in wheat and soy prices, lacklustre U.S. exports and the U.S. Department of Agriculture’s bearish new-crop projections last month placed the May corn contract at a
Cars are buried on Hennepin Avenue in Minneapolis on Feb. 23 by a winter storm that crossed the U.S. northern Plains and Midwest and brought needed precipitation to some winter wheat-growing areas.
Grain Markets, Markets

Price trenches remain despite weather, projected plantings

Most traders expect the Black Sea Grain Initiative to be extended

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North American grain and oilseed markets were up and down during the last full week of February, holding relatively rangebound overall. News of a frost in Argentina sent soybean, corn and canola values climbing higher on Feb. 21, as crop estimates out of the drought-stricken country continue to be revised lower. However, the immediate bullish reaction quickly subsided, and most

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