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Canola prices pull back
Grain Markets, Markets

Canola prices pull back

As conditions have improved, prices have eroded, even with planting delayed

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Spring planting has caught up with canola futures on the Intercontinental Exchange. For several weeks canola pushed upward, even as rain across the Prairies replenished depleted soil moisture levels, but now optimism for good crops has put pressure on values. Planting was delayed and as much as 40 per cent of this year’s canola is
Photo: Greg Berg
Grain Markets, Markets

Can canola markets find traction?

Expert's Radar: Signs of hope on the export front are beginning to emerge

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The slow pace of Canadian canola exports is an ongoing issue, with lack of offshore movement a heavy weight on the market. However, the crop may finally find traction on the export front. AAFC projections: Agriculture and Agri-Food Canada released updated supply/demand tables May 21, cutting its call for 2023-24 canola exports to six million
Some analysts see potential for 20-million tonnes of canola production in 2024-25.
Grain Markets, Markets

Weather just one factor affecting canola markets

Rain and extreme weather have caught the headlines but other issues abound

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Canola prices hit calendar-year highs on the Intercontinental Exchange during the week ended May 23, with new crop contracts hovering around the $700 per tonne mark. But lately, there’s been literal rain on canola’s parade. New moisture has been a welcome sight for growers. However, that benefit has been tempered by drawbacks. On the Prairies,
The ups and downs of canola futures markets
Grain Markets, Markets

The ups and downs of canola futures markets

Changes in moisture fortunes shift markets

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Canola futures hit their strongest levels of 2024 in early May before backing off those highs as losses in outside markets and improving Prairie moisture conditions slowed the upward momentum. July canola hit a session high of C$669.10 per tonne May 7, with the new-crop November contract hitting its year-to-date peak at C$682.10 per tonne.
What will drive grain prices higher?
Grain Markets, Markets

What will drive grain prices higher?

Expert's Radar: Much of the recent news surrounds transportation in one way or another

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Weather conditions through spring seeding will be a major market-moving factor over the next few weeks, but news on the transportation front may also sway values. Planes — The United States government announced long-anticipated guidance on its subsidy program for sustainable aviation fuel (SAF) on April 30. The announcement only covers the next year, but
A wild ride to nowhere for canola prices
Grain Markets, Markets

A wild ride to nowhere for canola prices

In this case it was the journey, not the destination, that was exciting

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Canola futures on the Intercontinental Exchange closed out the week ending May 2 pretty much right back where they started. The July contract closed on Apr. 25 at $636.90 per tonne, fell back, and then worked back to the same price. It was a very similar story for the new crop November contract, from $653.70/tonne
Photo: Thinkstock
Grain Markets, Markets

Wheat market breaks dormancy

Expert’s Radar: Markets climb out of rangebound position on news from around the world

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After a long winter, plants are starting to shoot up. Similar activity can be seen in the wheat market. Values broke dormancy during the week ended April 26. Charts: Minneapolis spring wheat gained 55 cents per bushel in the span of a week, while Kansas City hard red winter wheat was up by 65 cents.
Even with El Nino waning, it's forecast to be a hot summer in Western Canada.
Grain Markets, Markets

No one knows where canola prices are headed

A strong week with a weak ending highlights the uncertainty

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Canola seeding is set to begin on the Prairies and canola prices are in a state of indecision. It feels odd to make that assessment after the July canola contract on the Intercontinental Exchange gained $14.60 per tonne during the week ended April 25, to close at $636.90. However, two straight days in the red
Canadian 2023-24 canola production of about 18.3 million tonnes was down slightly the 18.7 million tonnes grown the previous year.
Grain Markets, Markets

What’s putting pressure on canola?

Expert’s Radar: The short answer is that export demand just isn’t there

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After attempting to show strength for most of March and early April, the canola futures market took some hits, with the bias shifting lower once again. Old/new crop spread: Tightening stocks and the need to secure deliveries ahead of new crop availability often see old crop canola contracts trade at a premium to new crop
Wheat bids in Western Canada are a far cry from where they were at this time a year ago, but unlike canola, the demand is still strong for Canadian wheat.
Grain Markets, Markets

Wheat prices stuck in sideways pattern

Minneapolis wheat has been hovering just above contract lows for two months

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North American wheat markets have been treading water for the past few months, with prices struggling to show much life. Minneapolis spring wheat, the most closely related futures contract to the Prairie cash market, has held in a sideways range just above contract lows for the better part of two months, with no indication that

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