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(Photo courtesy Canola Council of Canada)
Grain Markets, Markets

Grain markets go into holiday mode

FUTURES | Speculators’ long position poses a serious threat to canola values

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After a tumultuous week of downturns and upticks, ICE Futures canola moved a little, particularly in the nearby January and March contracts. In highlighting the markets going into holiday mode, the nearby January contract stepped back $7 per tonne since Dec. 9, while the March contract gained $4. As the holidays approach, it’s clear traders want to
The USDA upped its average yield estimate for U.S. wheat in 2025-25 by half a bushel per acre.
Grain Markets, Markets

Canola well supported despite profit-taking

New data on global oilseed stocks may take on added importance later

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The ICE Futures canola market came under some pressure during the week ended Dec. 10, as speculators booked profits on their large net long positions and the months-long uptrend showed signs of faltering. After a year of unprecedented strength all of the bullish news should be well known for canola. The tight supply situation was confirmed by Statistics
A view of the Strategic Petroleum Reserve at Freeport, Texas on June 9, 2016. Canola futures fell, and rose, over the past week partly on the shifting fortunes of crude oil, with WTI recovering off lows below that US$70 a barrel.
Grain Markets, Markets

Canola prices regain strength after tumultuous week

Statistics Canada comes through with a further reduction in production

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It has been quite the ride this past week for ICE Futures canola. Prices for the Canadian oilseed experienced a sharp downturn as declines in global crude oil futures generated a pull- back in edible oil values. When crude oil reversed course and made gains, then those edible oils responded positively — including canola.  The
Canola export movement from the West Coast remained solid despite the damage on rail lines through southern British Columbia.
Grain Markets, Markets

Canola futures show signs of peaking

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SUPPLIES | Domestic crushers should be the main customer this month

Canola on the ICE Futures platform hit fresh highs in many contract months during the last full week of November, but showed signs of stalling out near the top with the Thanksgiving holiday in the United States leading to some volatility and thin volumes. While the underlying reality of tight supplies, and the need to
Flood waters cover the Trans-Canada Highway near Abbotsford, B.C. in an aerial view Nov. 16. Washouts on roads and rail lines effectively severed bulk and container traffic in and out of the Port of Vancouver.
Grain Markets, Markets

Where does January canola go now?

The oilseed contract might not plummet if other edible oils hold up

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The big long that has built up in January canola could lead the contract’s price either way on the Intercontinental Exchange (ICE Futures). The January presently remains over $1,000 per tonne, as it’s believed spec funds are keeping at such a high level. However, trading will come to an end in that contract — and
According to industry sources, markets for canola oil and meal are still profitable despite what publicly reported canola margins suggest.
Grain Markets, Markets

ICE canola gains outpace CBOT soybeans

January canola punched above $1,000 before Remembrance Day

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A bullish report from the U.S. Department of Agriculture helped soybean futures at the Chicago Board of Trade recover off of 10-month lows during the second week of November — but the ICE canola market easily outpaced the soy complex to the upside, as a number of independent factors helped the Canadian oilseed hit fresh
Grain Markets, Markets

Canola sees net gains on the week

The market appears to be at an inflection point and could rise or fall

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Despite the wild ride canola has had during the week ended Nov. 4, it’s still ahead of where the January and March contracts had been on Oct. 28. The January had a net gain of $23.40 per tonne at $978.70/tonne, with the March up $19 at $955.30. During that ride canola exhibited a measure of independent strength from
Sovecon raises forecast for Russia’s 2021 wheat crop
Grain Markets, News

Sovecon raises forecast for Russia’s 2021 wheat crop

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Continuing dry weather could hamper winter grain sowing in Ukraine and result in a smaller sown area in Russia, analysts and weather forecasters said Oct. 27. Farmers in Russia, the world’s largest wheat exporter, have so far sown winter grains on 17.5 million hectares for next year’s crop, down from 18.2 million hectares around the
A rapeseed field at Adlersberg near Munich on May 11, 2003. European rapeseed futures have recently touched contract highs, to the further benefit of ICE canola values.
Grain Markets, Markets

Canola futures to resume rising

Fundamentals support a continued climb following a setback last week

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After several days of gains, ICE Futures canola took an inevitable double-digit step back on Oct. 21. Despite the extremely tight supply situation in Canada, canola was bound to take a breather, as profit-taking was thought to have driven down prices on that Thursday. However, it’s unlikely the Canadian oilseed will continue to push lower.
A worker moves a crude palm oil tank in Thailand’s Petchaburi province on Jan. 14, 2008. Buoyed in part by the current energy crisis, Malaysian palm oil futures have risen recently to record levels, providing some support for other vegoils.
Grain Markets, Markets

Chicago soy drags, other vegoils support canola

Bearish data from USDA has knocked CBOT soybeans way down

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ICE Futures canola contracts fell off of the top edge of their well-established trading range during the second week of October, but the losses were short lived with a number of underlying influences keeping the market well supported. Traders were busy during the week, rolling their positions out of the nearby November contract and into

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