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Canola market sees wide range of trade
Grain Markets, Markets

Canola market sees wide range of trade

The U.S. Thanksgiving break moved participants to the sidelines and lowered volume

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The ICE Futures canola market traded within a wide range during the week ended Nov 23. Price moves were exaggerated by thin volumes as the United States Thanksgiving holiday saw many participants move to the sidelines. The January canola contract briefly tested its 50-day moving average, settling above the key chart point for the first time in over two months.
(Dave Bedard photo)
Crops, Markets

ICE weekly outlook: Canola prices could rebound

'There's nothing all that exciting to look at'

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MarketsFarm — Winnipeg-based trader Ken Ball from PI Financial is cautiously optimistic that canola prices can rebound in the short term. The January canola contract closed at $702.30 per tonne on Wednesday a weekly loss of $7.40. The contract fell below the $700 level on U.S. Thanksgiving on Nov. 23, a day with little volume.
(File photo by Dave Bedard)
Crops, Markets

Speculators buy back bearish canola bets in latest report

Funds reduce net long in soybeans

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MarketsFarm — Fund traders were actively covering bearish bets in canola during the week ended Nov. 21, buying back some previously placed short positions, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). The report was delayed due to the U.S. Thanksgiving holiday. As of Nov. 21, 2023,
It’s amazing to think that the work of two plant breeders at publicly funded universities transformed a machine lubricant into an edible oil.
Other

Editor’s Take: Setting research priorities a complex puzzle

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[UPDATED: Nov. 24, 2023] It’s often observed that from tiny acorns, mighty oaks grow. Nowhere in the western Canadian agriculture scene is this truer than in the canola sector. When one pauses to reflect, one can only marvel at what has happened. A relatively obscure crop, grown largely as a machine lubricant, was transformed into one of
Left to right: Mario Tenuta (University of Manitoba), Curtis Rempel (Canola Council of Canada), Lawrence MacAulay, federal agriculture minister, University of Manitoba dean Martin Scanlon. The men spoke during a funding announcement at the Bruce D. Campbell Farm and Food Discovery Centre at Glenlea, Man.
Crops

Canola sector gets research funds boost

The federal government and canola sector team up for another five-year research cluster

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The federal government is putting up $9 million in funding to drive sustainable growth of the canola sector. The money will support a new canola cluster, said Lawrence MacAulay, federal agriculture minister, at a Nov. 14 media event at the University of Manitoba’s Glenlea Research Station. The 2023–2028 Canola AgriScience Research Cluster follows a similar
Funds, weather chop oilseed prices
Crops

Funds, weather chop oilseed prices

Massive selloff of managed money positions drives oilseed prices down

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All was going well for canola early in the week of Nov. 14, with the oilseed continuing on its path to recovery. Then things were shaken by speculative funds. Although those funds drove canola prices lower over much of the last month, managed money was also responsible for bringing things largely back to where they
ICE January 2024 canola with 20- and 200-day moving averages and nine-day exponential moving average. (Barchart)
Crops, Markets

ICE weekly outlook: Purely technical canola market trending up

Activity expected thin until next week

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MarketsFarm — The ICE Futures canola market moved within a wide range during the week ended Wednesday, hitting some of its best levels in a month before running into resistance at the highs. With traders in the United States moving to the sidelines for the U.S. Thanksgiving holiday, activity should be thin and choppy until
Crops, Markets

AAFC tweaks crop supply/demand estimates in November report

Estimates hold for most exports

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MarketsFarm — Agriculture and Agri-Food Canada has slightly adjusted its supply/demand estimates for November. AAFC published its latest Outlook for Principal Field Crops on Tuesday. Of Canada’s major crops, the department left the 2023-24 ending stocks for canola at one million tonnes and all wheat at 3.6 million, while all other reported crops were left
(Dave Bedard photo)
Crops, Markets

Large speculative short position in canola dips slightly

Net long in CBOT soybeans increases

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MarketsFarm — The large managed money short position in canola futures dipped slightly during the week ended Nov. 14, as speculators bought back some of their bearish bets, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As of Nov. 14, the net managed money short position in
University of Manitoba law professor says fatigue management should never have been on the rail dispute bargaining table; it's a matter for government to handle.
Grain Markets, Markets

Grain prices still hang on exports

Expert's Radar: Our wheat export pace is up despite smaller production

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Canada is a country whose main exports are hockey players and cold fronts,” according to a quote attributed to former Prime Minister Pierre Elliot Trudeau who jokingly added “our main imports are baseball players and acid rain.” Looking at the current Winnipeg Jets lineup at least, it’s safe to say the trade balance on hockey

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