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A soybean sprout at a plantation affected by drought at Soledade in Brazil’s Rio Grande do Sul state on Jan. 8, 2022.
Grain Markets, Markets

Canola looks to soybeans for guidance

Demand for U.S. soy is strong; supply from Brazil is uncertain

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The soy complex at the Chicago Board of Trade is usually a bellwether as to where canola prices will go, with support from gains in soyoil and soymeal countered by losses in soybeans during the week ended Nov. 9. There are at least a couple of bearish indicators for soybeans. First is the projected Brazilian
“If you think about removing greenhouse gases from the atmosphere, the best thing you can do is increase agricultural yields.” – Curtis Rempel, Canola Council of Canada.
News, Oilseeds

Biofuels drive canola demand

Canola Council of Canada aims for yield research to meet demand

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The Canola Council of Canada is seeking ways to increase yields to meet the rising demand for biofuels. “Biofuels seem to be taking the front-and-centre space for the oilseed sector, at least in Western Canada,” said Curtis Rempel, vice-president of crop production and innovation. Why it matters: The canola industry represents 207,000 jobs, $12 billion in wages and nearly
Canadian Agriculture and Agrifood Minister, Lawrence McCauley (right) and CCC vice president, crop production and innovation, Curtis Rempel at the funding announcement at the Bruce D. Campbell Farm and Food Discovery Centre at Glenlea, Man. Photo: Don Norman
Crops

Canola sector gets research boost

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The federal government is putting up $9 million to drive the sustainable growth of Canada’s canola sector. The funding comes from the AgriScience Program—Clusters Component, an initiative under the Sustainable Canadian Agricultural Partnership and was announced today (Nov. 14) in Winnipeg by Lawrence MacAulay, the federal agriculture minister. “This new Canola Cluster will build on
Canola crush margins are already historically wide and domestic processors show good demand.
Grain Markets, Markets

Fund traders not looking to lose their shorts

Signs of a corrective bounce exist, but so does a record-high net short

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ICE Futures canola contracts lost roughly $150 per tonne over the past two months, as speculators put on large short positions and exaggerated the seasonal harvest pressure. Values hit fresh four-month lows as the calendar flipped to November, but the market was also showing signs of a possible corrective bounce. The most active January contract
ICE January 2024 canola with 20-day moving average (yellow line, right column) and CBOT January 2024 soybeans (green line, left column). (Barchart)
Crops, Markets

ICE weekly outlook: Soy complex supporting canola

'Canola has been largely pulled up'

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MarketsFarm — Amid falling crude oil prices, canola prices are staying strong, largely due to the Chicago soy complex, according to a Calgary analyst. Errol Anderson of ProMarket Communications has been impressed with canola’s recent rise. The January contract on ICE Futures was as low at $672 per tonne on Nov. 2 before rising to
(File photo by Dave Bedard)
Crops, Markets

Net speculative short position in canola tops 100,000 contracts

Net long increases in CBOT soy

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MarketsFarm — Speculative fund traders continued to add to their large short positions in canola futures during the last week of October, taking the net managed money short position over 100,000 contracts for the first time on record, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As
Green soybean plants
Grain Markets, Markets

Grain traders turn gaze southward

Expert's Radar: Rains have been helpful for Argentina and Australia

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Most of the Canadian Prairies were blanketed with snow during the last week of October, which likely had many people dreaming of vacations to warmer climates to the south. With the Canadian harvest all but wrapped up, and the United States in its final stages, the grain markets are also shifting their attention southward. Argentina
The October supply and demand report from AAFC had little effect on canola’s price movements.
Grain Markets, Markets

It wasn’t a good week for canola prices

The soy complex drags on canola values

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Canola prices for the week ended Oct. 26 took a hard hit, with the front contracts falling well below the psychological support level of $700 per tonne. A big reason for those declines was canola’s faithfulness to the soy complex on the Chicago Board of Trade, and in particular soyoil.  The path taken by the latter
ICE January 2024 canola with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets

ICE weekly outlook: Falling canola market seeks support

Canola seen as 'fairly cheap' but not attracting interest

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MarketsFarm — The ICE Futures canola market continued its months-long downtrend as the calendar flipped over to November, with the futures looking for an outside catalyst to spark a corrective bounce. While canola has seen occasional attempts at correcting higher over the past two months, any gains proved short-lived. “The oilseeds are very swingy and

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