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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

By
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
Canola blooms in central Manitoba under an overcast sky.
News, Oilseeds

Building a better canola with broccoli

Traits from related species may punch up canola diversity

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Glacier FarmMedia – There’s little doubt that canola is a powerhouse crop. Nationwide, it covered nearly 22.1 million acres last year, more than 99 per cent of it on the Prairies. The Canola Council of Canada puts its economic contribution at nearly $30 billion a year. A University of Alberta researcher, backed by the Natural Sciences and Engineering Research Council of Canada (NSERC) and Bayer Crop Science,
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

By
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
Photo: Canstock
Markets

Canola net short position edges lower

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The managed money net short position in canola futures edged lower in the latest reporting period, as fund traders covered some of their bearish bets, according to the latest Commitments of Traders report from the United States Commodity Futures Trading Commission (CFTC).
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
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
An exporter with Parrish & Heimbecker forecasts that China will buy 4.07 million tonnes of Canadian canola in 2023-24.
Crops, Oilseeds

Australian canola a ‘thorn in our side’

The country has become a major competitive threat to Canada’s canola sector

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Glacier FarmMedia – Canada is facing stiff competition from Australia in many canola export markets. “They’re here to stay,” said Jarrett Beatty, an exporter with Parrish & Heimbecker, during the Canola Council of Canada’s Canola Utilization Forum earlier this year. “Unless they have an environmental issue, they’re going to continue to be a bit of
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

By
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.

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