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Canola plants in flower north of Lorette, Man., on July 20. Generally favourable growing conditions are responsible for some of the downward pressure on canola futures.
Grain Markets, Markets

Canola futures slip below psychological support levels

Despite the yield outlook, canola’s supply-demand balance remains tight

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Canada’s canola crop is still some time away from harvest, with plenty of opportunities for a weather scare to materialize. However, relatively benign conditions for the time being were enough to weigh on the futures during the week ended July 22. Prices fell below psychological support to their softest levels in six months. The November
Grain Markets, Markets

Strategie Grains cuts all EU grain crop estimates

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Consultancy Strategie Grains on July 14 cut all its forecasts for this year’s grain crops in the European Union, as it fine-tuned wheat and barley estimates and factored dry weather that threatens maize production. The EU wheat crop was expected to yield 123.3 million tonnes, down from 124.4 million projected in June and below the
Weather-related rallies remain a possibility for spring wheat.
Grain Markets, Markets

Traders shed long positions in grain, oilseed futures

The canola trade is now net short for the first time in two years

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Broad swings in global energy and financial markets in the first week of July led to erratic activity in grains and oilseeds. Many commodities saw large amounts of speculative money flushed out as concerns over a possible global recession sparked a round of long liquidation. ICE Futures canola fell to its weakest levels in more than five months but was showing signs of
Huge canola prices likely finished
Grain Markets, Markets

Huge canola prices likely finished

Attention is now turning to new crop prospects, which are brighter

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Barring a major catastrophe in the global oilseed market, the days of canola soaring to $1,200 per tonne are destined for the history books. With trading in the old crop July contract withering, it careened downward by almost $320 after hitting its high of $1,219 per tonne. New crop November canola plummeted nearly $236/tonne, sitting
Commodities tumble in tough week
Grain Markets, Markets

Commodities tumble in tough week

Seasonal effect enhanced by inflation concerns and rising interest rates

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What goes up, must come down’ may be a tired cliché, but it proved true in the grain and oilseed markets once again as summer officially begins. Canola, soybeans, palm oil, wheat, corn — you name it, and it fell hard during the week ended June 23. The seasonality of the North American agricultural markets
Grain Markets, Markets

Price declines not as severe in canola

Uncertainties remain for Canada’s new canola crop

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For the most part, the week ended June 16 could have been much worse for canola, as declines should have been more severe. From June 9 to 16 the old-crop July contract lost $45 per tonne, while new-crop November gave up $38. One reason for the decline was a general sell-off in the global vegetable
A sign warns people of mines at a closed-off beach at Odesa, Ukraine on June 6. Even if an agreement can be reached to resume grain exports via the Black Sea, it’s believed it could take months to clear mines in the waters around Ukrainian ports.
Grain Markets, Markets

Grain traders look past delays to focus on seeded crops

Canola values have dropped below some key chart points

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Time may be running out for spring seeding in Manitoba, while the northern U.S. has faced similar delays, but the futures markets are generally looking past the poor planting progress to focus on conditions for what’s in the ground. Outside factors, such as the ongoing war in Ukraine, are also accounting for much of the
A cargo ship is loaded with steel rolls at the Russian-occupied Port of Mariupol, Ukraine on May 30.
Grain Markets, Markets

Wheat values fall hard

Canola, soy and corn values got caught in that spillover

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Despite the strong unlikelihood of an agreement between Russia and Ukraine on exporting the latter’s grain out of its occupied and blockaded Black Sea ports, the suggestion of talks sent wheat futures tumbling over the last week. Heading into the Memorial Day long weekend in the U.S., the wheat complex made some moderate gains. The

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