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Vanessa Kummer is seen on a storage bin catwalk on the family farm near Colfax, North Dakota, U.S., August 6, 2019. Picture taken on August 6, 2019.
Grain Markets, Markets

Canola’s bull will soon need feeding

U.S. soybean ending stocks are also already projected to be tighter this year

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The ICE Futures canola market saw some choppy activity during the week ended Dec. 11, consolidating just below recently hit multi-year highs as investors took profits and adjusted positions ahead of the seasonal slowdown. Canola has been in a steady uptrend since July, and underlying fundamentals remain supportive with plenty more room to the upside.
Agricultural commodities and agri-foods account for one-third of Canada’s total exports to China.

Grain Markets, Markets

China responsible for large leap in exports

Even Canadian canola exports to China are up from the previous year

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China has dramatically picked up its imports from Canada in the 2020-21 marketing year. The Canadian Grain Commission (CGC) reported this week that at the end of October, China imported 3.17 million tonnes of wheat, barley, flax, canola and peas from Canada, compared to 1.51 million the same point in 2019-20. With China very eager
Grain Markets, Markets

India soybean production said to be lower

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Production of the 2020-21 kharif (fall harvest) soybean crop in India should be lower, according to a United States Department of Agriculture (USDA) attaché report. The fall is the only time India harvests soybeans. The attachés, Amit Aradhey and Mariano Beillard, proposed several changes to the official USDA numbers from October including a 10.7 per
Employees working at cargo ship Kypros Land which is loading soybeans to China at Tiplam terminal in Santos, Brazil, March 13, 2017.
Grain Markets, Markets

Canola futures pressured following month of gains

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Canola contracts on ICE Futures were due for a pullback during the week ended Nov. 26, after gaining about $50 throughout the month. Canola prices started the week at $584.10 per tonne, with the January contract gaining over $7 per tonne. After making significant gains during November, market participants expected canola to pull back and
A worker inspects soybeans during the soy harvest near the town of Campos Lindos, Brazil February 18, 2018.
Grain Markets, Markets

U.S. farmers celebrate soy price surge as Brazil misses out

The Latin America powerhouse missed the upward surge by selling earlier to lock in prices

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U.S. farmers sold freshly harvested soybeans directly off their combines for a profit as prices rose to a four-year high this autumn, a welcome change from the losses suffered during the U.S.-China trade war. Strong exports to China as the world’s top soybean importer emerged from lockdown helped push the most active soybean futures contract at the Chicago Board of
A Chinese ship is loaded with soybeans at Port of Santos May 19, 2015.
Grain Markets, Markets

Domestic and export demand support canola

Guided by bullish chart signals, speculators are adding to their long positions

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ICE canola futures kept climbing during the week ended Nov. 20, hitting multi-year highs and showing no signs of slowing the uptrend. Aside from a brief blip on the charts in 2017, when the July contract was expiring, the nearby canola market has not traded above $550 per tonne for any extended period of time since 2013. January canola first settled
Unusually warm temperatures for this time in November have kept farmers’ attention off selling their crops, in turn pushing canola prices higher.
Grain Markets, Markets

Canola gets bounce off soybeans’ gains

Uncertainty also continues over U.S. soybean acreage

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ICE Futures canola made significant gains during the week ended Nov. 5, after starting the week in the red. Canola prices started the week at $534.90 per tonne, with the January contract losing over $7 per tonne. However, unseasonably balmy weather and support from comparable vegetable oils gave prices a much-needed boost throughout the week, and the January
Meg Stuedemann, an organic farmer southwest of Minneapolis at Belle Plaine, Minn., stakes out her position ahead of the Nov. 3 U.S. 
election, the outcome of which may further sway commodity markets.
Grain Markets, Markets

Broad commodity sell-off sweeps canola off perch

Recent upticks in COVID-19 cases have jarred outside markets

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All good things will eventually come to an end — and it looks like that was the case in the canola futures market the last week of October. The steady uptrend that was in place all through the summer and for most of the fall may have finally reached its upper limits, with the multi-year
Despite its continuing challenges in the Chinese market, overall export traffic in Canadian canola is way up from last year at this time.
Grain Markets, Markets

‘Strange little rally’ benefits Prairie farmers

Canola values got a boost from traders covering their shorts

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It’s rather rare to see canola show a good measure of independent strength, but that happened this month. Contracts reached highs that haven’t been seen in a number of years. For example, the price of ICE Futures’ January canola contract had climbed almost $30 per tonne since the end of September alone. That was preceded
Understanding basis one of the basics of grain marketing
Grain Markets, Markets

Understanding basis one of the basics of grain marketing

This measure of local demand for grain in the handling system can help your marketing plans

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What’s the basis for your basis decisions? Basis pricing doesn’t get as much attention as it should but is such an important, but often overlooked or misunderstood, piece of the grain-marketing puzzle. While many farmers do pay close attention to basis, others don’t. I initially looked at basis in this column a couple of years ago and

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