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As of Sept. 8, Manitoba’s 2020 canola harvest is well behind the three-year average pace.
Grain Markets, Markets

Lots of canola in fields, vulnerable to the elements

The extent of damage from the most recent snap has yet to be fully assessed

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Given the late start to planting this spring, there remains a lot of canola in fields across the Prairies. Manitoba Agriculture on Sept. 8 reported canola in the province was 22 per cent combined, up from seven per cent the previous week, but the three-year average is 57 per cent complete. Yields were said to
StatsCan opted for satellite imagery and computer modelling to compile its latest estimates on Canadian crop production.
Grain Markets, Markets

StatsCan’s data from orbit may keep canola grounded

U.S. soybeans are up on strong export demand and concerns over crop damage

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Canola futures hit some of their best levels in two years during the first week of September, but ran into resistance to the upside as investors also contemplated updated data from Statistics Canada. Statistics Canada had two reports out during the week, with production numbers on Aug. 31 and old-crop ending stocks on Sept. 4.
U.S. soybean and soyoil futures are currently guiding canola’s fortunes.
Grain Markets, Markets

Canola futures follow soy complex higher

China's increased purchases of U.S. soybeans bode well for canola values

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As long as there are gains in the soy complex at the Chicago Board of Trade, canola prices will continue to find support — and that’s been fuelling the rally in canola this week. Of the major edible oils that influence canola, Chicago soyoil is the most prevalent. As said before, where bean oil goes,
A large canola crop appears to be on the horizon, causing the market to retrench.
Grain Markets, Markets

Production estimates for soy, corn crops don’t feed bears

USDA numbers didn’t phase the markets despite rosy production outlook

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Relatively bearish production estimates for this year’s soybean and corn crops in the United States did little to weigh on the grain markets, with prices in both crops up considerably in the immediate aftermath of the U.S. Department of Agriculture’s Aug. 12 production report. However, ICE Futures canola lacked much spillover buying interest, as strength in the Canadian
Although China curbed its Canadian canola imports, canola values were able to draw strength from exports to other markets.
Grain Markets, Markets

2019-20 crop year could have been worse for canola

A recent Prairie crop tour points to a strong canola harvest

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It can be said that things weren’t all that bad for canola during the 2019-20 marketing year. Given the grim outlook there was for canola over the fall and winter, it’s been a decent marketing year overall for the crop. Prices dropped because of China, but strong exports elsewhere, plus a larger domestic crush, combined
CBOT expecting large corn and soybean crops
Grain Markets, Markets

CBOT expecting large corn and soybean crops

Growing conditions in the U.S. are expected to push up corn and soybean yields

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The Chicago Board of Trade (CBOT) continues to watch growing conditions in key regions of the United States, as record yields are expected for corn crops. “Corn is pretty much made,” said Terry Reilly of Futures International in Chicago, Illinois. “Conditions have improved significantly and nobody sees any major problems,” Reilly said. Trade participants expect
Canola markets see upside in July
Grain Markets, Markets

Canola markets see upside in July

Canola at six-month highs, but upside may be limited

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The ICE futures canola market trended higher for all of July and hit its best levels in six months ahead of the calendar flipping to August. However, with the harvest just around the corner, farmer selling may put a damper on the upside. One good news story for canola over the past few months has
Canola crops in some spots on the Prairies are currently about a month away from swathing.
Grain Markets, Markets

Despite bearish pressures, canola remains rangebound

Storms in some areas have built a weather premium into crop values

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Canola on the ICE Futures exchange remained locked in a range during the week ended July 23. Canola prices started the week at $485.30 per tonne and were on either side of steady throughout the week. The November contract closed July 23 at $485.40 per tonne. By all accounts, canola prices held up to considerable
When the loonie rises it can quickly wipe out what otherwise would have been market gains.
Grain Markets, Markets

As always, canola follows soyoil, loonie

Right now this well-established relationship is calling many of the shots

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It’s the same old, same old when it comes to the relationship between the values for canola, soyoil and the Canadian dollar. Soyoil and the dollar are the leaders and canola is the follower. Over the course of last week that relationship was quite evident. After the November canola contract closed on July 10 at $479.50 per tonne, it

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