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A 20 million-tonne canola harvest is unlikely now, but a figure below 18 million tonnes is also unlikely.
Grain Markets, Markets

Canola yields not great, but good improvement

Harvest progress last week was well behind the five-year pace

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As farmers contend with less-than-ideal canola yields, the main thing to keep in mind is the 2022-23 harvest will still be vastly better than last year’s. On Sept. 14, Statistics Canada issued its latest production report, following up on its previous one released Aug. 29. That one was based on satellite imagery taken at the
Relatively favourable weather has led to harvest progress and, very likely, increased farmer selling on grain and oilseed markets.
Grain Markets, Markets

Canola slips below psychological supports

Demand from end users may be less aggressive these days

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ICE Futures canola contracts moved lower during the first week of September, falling below psychological chart support as harvest operations progressed across the Prairies amid relatively favourable weather. While there were many areas of concern during the growing season and the bulk of the canola harvest is still far from the bin, it’s fairly safe to say that
A cooking oil production line at Lianyungang in China’s Jiangsu province on Jan. 9, 2019. Concerns over COVID-19 have again raised uncertainty about vegetable oil demand.
Grain Markets, Markets

Canola falls back

Flagging fortunes for crude and vegetable oils alike have added pressure

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Canola continued to fall back during the week ended Sept. 1, pulled lower by a number of factors. Over the course of the week, the nearby November contract lost $21.70 per tonne, to close at $812/tonne on Sept. 1. The January 2023 contract was down pretty much the same amount, losing $21.30 at $821/tonne. In
Delays in spring seeding on the eastern Prairies put this year’s canola crop behind the usual pace, making fall frost more of a concern.
Grain Markets, Markets

Canola unlikely to see rebound

A new StatsCan crop report is due out next week

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Ahead of the next principal field crop report from Statistics Canada, there’s some speculation that the 2022-23 canola crop could come in below 19 million tonnes. The thinking is some areas of the Prairies have received too much moisture, while other parts of the region didn’t get near enough. There was a suggestion that any
A contract is more than an agreement. It is an enforceable legal document. If changes are made or a grower is unable to deliver, communication must be properly noted.  
Photo: AtlasStudio/istock/getty images
Grain Markets, Markets

Four things to know about grain contracts

MARKETING | Lawyers share practical tips for better understanding terms and conditions

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Contracts are important grain marketing tools. While price may be a key reason why farmers agree to a contract, there are other factors to consider. Some farmers in Western Canada learned this lesson the hard way when they could not deliver on their contracts and grain companies could not source replacement commodities due to last
Seasonal pressure is easing somewhat on wheat values, as the U.S. winter wheat harvest nears completion.
Grain Markets, Markets

Weather uncertainty holds canola values within range

Development of many prairie crops is two weeks behind normal

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The ICE Futures canola market was trending higher during the week ended Aug. 11, but was still rangebound. The November contract has traded within a broad range of $780-$900 per tonne over the summer so far, with little to suggest a break one way or the other could be possible without an outside catalyst. Rather, market participants are
A canola field in bloom in Manitoba's Interlake on Aug. 7, 2022.
Grain Markets, Markets

Grains and oilseeds see volatile week

Ukraine deal and Pelosi visit to Taiwan both factor into market moves

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The grain and oilseed markets saw choppy activity during the first week of the 2022-23 crop year, with canola down and up in reaction to several outside forces. On the whole, canola prices ended back around where they closed the 2021-22 crop year, with attention back on weather conditions ahead of the harvest. Ukrainian grain
“All that can be done is to sit back and wait for what comes, be it more heat to dry out crops or sufficient rains to save them.”
Grain Markets, Markets

How quickly weather changes grain markets

Hot conditions in the U.S. a question mark for crop markets

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Not long ago, canola tumbled from its four-digit highs as the markets conceded there were likely a lot more oilseed supplies in the world than initially believed. The sharp declines in Malaysian palm oil, European rapeseed and the Chicago soy complex pulled the Canadian oilseed well away from those stratospheric levels. Besides, canola and other

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