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The drier the Prairies become, the more likely canola prices will increase.
Grain Markets, Markets

Canola prices fall, but still remain rangebound

High drought risk could kickstart the canola market this summer

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Canola took a tumble to close out the week ended April 11, pressured by losses in Chicago soyoil and other oilseeds.  The old crop May canola contract fell back from the week’s high of $643.10 per tonne at the close on April 5, and fell to $624.30 on April 11. Declines for the new crop
Crude oil prices are just one factor affecting canola prices.
Grain Markets, Markets

Crude oil correction could corral canola markets

Black gold underpins all commodity markets, including agriculture

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In the world of commodities, crude oil rules, even when it comes to agriculture. It is needed to power the tools and the equipment to seed, harvest, transport and, in some cases, turn crops into final products. Some of those products are also in competition with crude oil itself. As a result, oilseeds and vegetable
Vegetable oils give canola market a lift
Grain Markets, Markets

Vegetable oils give canola market a lift

Canola seems to be finding support from various sources

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After months of misery, it has been a mighty March for canola so far. Since March 1, the May contract for the oilseed has moved up nearly $50 per tonne on the Intercontinental Exchange, including a gain of $19.70 during the week ended March 21. In the current month, there were only five days when
Palm oil accounts for the largest percentage of vegetable oil consumed globally.
Grain Markets, Markets

Agricultural sector is an oily business

Expert's Radar: From crude oil to the various edible oils, all are important factors to consider in agriculture

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When eating a nice meal, plenty of different oils can come into play. Canola oil to fry the onions, olive oil for the salad, some butter for the bread, and even crude oil for the fuel that brought all those ingredients to the grocery store. This varied assortment all has an impact on marketing success.
One of the major factors that pulled canola prices lower until recently was a huge influx of South American soybeans coming on the market.
Grain Markets, Markets

Canola prices higher in rangebound movement

Spring rally still expected, but it may not be a sharp uptick this year

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There isn’t much to be overly concerned about now regarding canola futures on the intercontinental exchange. Despite declines, the Canadian oilseed remained a fair bit higher than a week ago. This is pleasant news, given how canola has tumbled downward in recent months. In short, canola can be seen as rangebound. There is a deficit
Canola acres are estimated at anywhere from 21 million to 22.7 million, which compares with 22.1 million acres in 2023.
Grain Markets, Markets

Crop plans, grain markets countdown to spring

Expert’s Radar: Recent snowfall eases some moisture worries as thoughts turn to spring

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March comes in like a lion and goes out like a lamb, according to the old saying that alludes to the idea that storms early in the month are often followed by milder spring weather as the calendar turns to April. Much of Western Canada welcomed snow in early March and the moisture eased some
Canola price sees slight growth
Grain Markets, Markets

Canola price sees slight growth

Unpriced canola stocks expected to trigger selling into recoveries

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The canola market finally showed signs of strength in the first week of March, moving above some key chart points as values stabilized after trending lower for the previous five months. The May contract climbed above its 20-day moving average, settling above the psychological $600 per tonne mark on March 7. The contract traded consistently
Are we at market bottom yet?
Grain Markets, Markets

Are we at market bottom yet?

[Expert's Radar] May canola appears to have found solid nearby technical support at $580 per tonne

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One Thanksgiving, after what must have been a very filling dinner at my grandma’s apartment, a group of my cousins and I, all in town for the holiday, decided to see a movie (School of Rock, if you want to date this anecdote). We never made it to the theatre because the elevator from the
Are corn markets poised for a rebound in March?
Grain Markets, Markets

Are corn markets poised for a rebound in March?

Ethanol and possibility of China purchases support a rebound

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The leap year’s extra day in February provided another one with misery for crop prices on both sides of the Canada-U.S. border. Whether canola, corn, wheat or the Chicago soy complex, all May contracts were under their respective 50- and 100-day averages, and all had large net short positions as of Feb. 29. Each one
Grain, oilseed markets trending lower
Grain Markets, Markets

Grain, oilseed markets trending lower

Expert’s Radar: Middle East conflict and a possible rail strike add to market uncertainty

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The major North American grain and oilseed markets continued to trend lower in mid-February, with canola, soybeans, corn and wheat contracts all setting new contract lows as the futures work to uncover demand. Burdensome supply/demand fundamentals, coupled with heavily short speculators and farmer selling on any attempts at moving higher, give little reason to expect

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