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A canola swath in south Saskatchewan on Aug. 27, 2023.
Grain Markets, Markets

Canola markets sag, then recover

Pace of canola exports slows, wheat markets reflect stock cuts

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ICE Futures canola contracts hit their weakest levels in two months in early September but eventually managed to uncover support and move off those lows, despite ongoing seasonal harvest pressure. Statistics Canada released its second model-based production estimates for the 2023-24 crop on Sept. 14, pegging the country’s canola production at 17.4 million tonnes. That was down by about
Average protein levels in wheat are reportedly on the low side elsewhere in the world.
Grain Markets, Markets

Last year’s supplies can come in handy

Expert's Radar: Dry conditions may lift wheat protein levels

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The back-to-school season is a time of beginnings as kids return to classes with new shoes and fresh haircuts, but also a time of endings as the carefree days of summer vacation are replaced by bells and schedules once again. On a last-minute trip to restock on paper and pens, I found someone’s lengthy list
Values for new-crop canola futures tend to continue lower as the crop comes in fresh off the fields.
Grain Markets, Markets

Harvest puts canola in the red

Ultimately the condition of the crop could halt slide

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Canola fields can be recognized simply by the seas of bright, day-glow yellow flowers atop green stalks before they are combined in late summer and early fall. But since Labour Day, ICE Futures canola has taken on a reddish hue. After trading rangebound during the final week of August, canola returned from the long weekend
As of last week, Manitoba’s canola harvest was estimated at about five per cent complete.
Grain Markets, Markets

Canola choppy following StatCan’s latest report

Gains faded in the hours following the report’s release

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As the canola harvest across the Canadian Prairies picked up speed at the end of August, prices for the Canadian oilseed bounced back and forth on ICE Futures. Support came from soyoil on the Chicago Board of Trade, when the commodity was climbing higher, while European rapeseed and Malaysian palm oil provided spillover as well. And as crude oil prices
A crop scout walks a soybean field in Allen County in northeastern Indiana on Aug. 19, 2019, during the Pro Farmer Midwest Crop Tour.
Grain Markets, Markets

Soy’s struggles could be canola’s gain

Expectations for U.S. soybean carryout may tighten further

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The main part of harvest is set to begin for canola, so you might think the influx of new crop into the market would cause prices to come down. But like any good friend, soyoil is there to give canola prices a pick-me-up. While the ICE futures November canola contract and October Chicago soyoil went
Harvest watch continues
Grain Markets, Markets

Harvest watch continues

Expert’s Radar: After an extremely variable growing season, nobody’s quite sure where production will be

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Harvest is ongoing just about everywhere — the three oak trees on my front yard grew a good crop of acorns this year, with the pitter-patter of falling acorns and chirping of squirrels becoming a near constant sound. The sheer number of squirrels scrambling to bring food for the winter is impressive to say the
Global wheat exporters won’t keep up with demand this year, which will draw existing stocks down sharply.
Crops, Grain Markets, Markets

Weather woes, Russia upend outlook for global wheat suppliers

Stockpile levels expected to reach at least a 16-year low in 2023-24

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Drought is expected to send global wheat stockpiles for major exporters to the lowest levels in more than a decade, a Reuters analysis shows. The decline is coming as top supplier Russia intensifies its conflict with Ukraine and creates more uncertainty for importers. Farms in areas of North and South America, Europe and Australia are
Hefty U.S. soybean crush propels Canadian canola upward
Grain Markets, Markets

Hefty U.S. soybean crush propels Canadian canola upward

Despite rising with soy, traders say canola is still too cheap

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The aggressive use of soybeans in the United States for biofuel production was squarely behind the sharp upticks in canola prices for the week ended Aug. 17 on the Intercontinental Exchange. The U.S. National Oilseed Processors Association released its monthly report on Aug. 15, showing 173.3 million bushels of soybeans were crushed in July. Not
Wheat-driven buzz
Grain Markets, Markets

Wheat-driven buzz

Expert’s Radar: Other nations’ output may sway prices at home

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While cleaning out the eavestroughs the other day, I unwittingly disturbed a hidden wasp nest, resulting in at least half a dozen stings on my hands and face. The pain eventually subsided but dealing with the nest turned out to be a bit more difficult than expected as they had found a crack between the

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