The loonie’s value against the U.S. dollar climbed to around 83 U.S. cents over 2021, but was set to close out the year near where it started, around 77.

Prairies’ drought outweighed COVID among market movers

Canola speculators still held large net long positions heading into 2022

The Prairie drought was the major market-moving story of the year for Canada’s grains and oilseeds in 2021, even supplanting the ongoing worldwide pandemic as the primary topic of discourse for much of the year. While the uncertainty of the global reaction to new variants will keep COVID-19 as an influence in the financial markets for some time,

ICE Canada Morning Comment: Canola pulls back with rapeseed, soy complex

Support from palm oil, crude oil

WINNIPEG, Jan. 6 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were mixed on Thursday morning, having come away from larger declines in the overnight session. Weakness in European rapeseed, as well as the Chicago soy complex weighed on canola values. Those declines were tempered by gains in Malaysian palm oil. Significant upticks in global crude



ICE canola near highs at midday Wednesday

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Jan. 5 (MarketsFarm) – The ICE Futures canola market was stronger at midday Wednesday, holding near contract highs as the underlying fundamentals of tight supplies and the need to ration demand remained supportive. Spillover buying interest from soybeans and soyoil at the Chicago Board of Trade added to the firmer


Global Markets: Kazakhstan declares state of emergency

WINNIPEG, Jan. 5 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally. – Kazakhstan has declared a state of emergency as protests over fuel price increases spread across the country. Thousands of demonstrators marching in Almaty, Kazakhstan’s largest city were countered by police firing tear gas and stun

ICE Canada Morning Comment: Canola continuing higher

Support from comparable oils

WINNIPEG, Jan. 5 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were higher on Wednesday morning, with the nearby March and May contracts approaching contract highs. Support was coming from gains in Chicago soyoil, European rapeseed and Malaysian palm oil. Small increases in global crude oil prices were also supportive of edible oil values. Additional support


North American Grain/Oilseed Review: Canola tests highs

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Jan. 4 (MarketsFarm) – The ICE Futures canola market was stronger on Tuesday, testing contract highs in sympathy with the Chicago Board of Trade soy complex. Forecasts calling for hot and dry weather in South America accounted for some of the buying in soybeans and soyoil that spilled into canola,

ICE canola nearing contract highs to start 2022

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Jan. 4 (MarketsFarm) – The ICE Futures canola market was stronger Tuesday morning, taking some direction from soyoil and soybeans at the Chicago Board of Trade. Forecasts calling for hot and dry weather in South America accounted for some of the buying in the soy complex that spilled into canola,


ICE canola posts solid gains to start year

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Jan. 4 (MarketsFarm) – The ICE Futures canola market was stronger Tuesday morning, posting solid gains during the first trading session of the New Year in sympathy with the Chicago Board of Trade soy complex. Weather concerns in parts of South America were behind some of the strength in the

North American Grain and Oilseed Review: Old crop closes lower for second day

As CBOT soybeans edge up, corn, wheat decline

By Glen Hallick, MarketsFarm WINNIPEG, Dec. 31 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were lower on Friday, due to light volumes of trading as well as some profit-taking. There was a small increase in new crop November. Weighing on canola values were declines in Malaysian palm oil, Chicago soymeal, and most contracts in European