Dryness pushes canola futures higher

Dryness pushes canola futures higher

Benefits from early-June rains have turned to doubts

New-crop canola contracts that bottomed out at the daily limit of $30 per tonne on June 17 have since made a dramatic turnaround — not so much because of what else has been going on in the markets, but rather because of the weather. As with earlier this spring, hot and dry weather has again descended over the

ICE Midday: Canola makes limited gains, pressured by loonie

WINNIPEG – The ICE Futures canola market was on the rise at midday Friday, but a strengthening Canadian dollar brought downward pressure as American traders positioned themselves ahead of Independence Day weekend. Despite temperatures exceeding 30 degrees Celsius over the weekend with some precipitation forecast in the Prairies, gains for canola were limited to between


Global Markets: Fire destroys B.C. village

By MarketsFarm WINNIPEG, July 2 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally. – More than a thousand people were evacuated from Lytton, B.C. on Wednesday as a fire decimated the Fraser Canyon community northeast of Vancouver that made headlines earlier in the week for reporting the



ICE Canada Morning Comment: Gains in canola after holiday

Prairie weather, comparable oils provide support

By Glen Hallick, MarketsFarm WINNIPEG, July 2 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were higher on Friday morning, as trading resumed following Canada Day. The heat continues to be felt on the Prairies with temperatures above 30 Celsius across the region as the heat dome moves eastward. There is very little chance of rain

CBOT November 2021 soybeans (candlesticks) with 20-, 50- and 100-day moving averages (yellow, green and black lines). (Barchart)

U.S. grains: Soybeans, wheat fall

CBOT corn ends slightly firm

Chicago | Reuters — U.S. soybean and wheat futures fell on Thursday while corn firmed slightly, with all three commodities closing well off their session peaks on a round of profit taking after rallying to their highest since mid-June, traders said. Forecasts for improving crop weather in the U.S. Midwest added pressure. CBOT November soybeans



CME August 2021 lean hogs (candlesticks) with Bollinger bands (20,2) and August 2021 live cattle (dark red line). (Barchart)

U.S. livestock: Lean hogs retreat from one-week high

CME August live cattle up, feeders lower

Chicago | Reuters — Chicago Mercantile Exchange lean hog futures ended lower on Wednesday in a retreat from early gains in which the most-active contract topped a one-week high. Traders watched a rally in grain prices that makes it more expensive to feed livestock. Corn and soy futures soared at the Chicago Board of Trade


ICE November 2021 canola (candlesticks) with Bollinger (20,2) bands. (Barchart)

ICE weekly outlook: Volatility to come for canola market

'Tighten up your seatbelt'

MarketsFarm — Record-breaking temperatures in British Columbia, lingering extreme heat in the Prairie provinces and little to no precipitation have strengthened an ongoing rally in the ICE Futures canola market. One trader, however, warns that canola contracts may be in for a mercurial few weeks. “We’re clearly in a weather market that is extremely volatile,”