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Tag Archives Canola

Soil cracks around corn plants below knee-high at Manchester Township, about 130 km west of Philadelphia in southern Pennsylvania, on June 6.
Grain Markets, Markets

Dryness leads to spike in weather market

Several canola contracts punched up above $700

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Growing concerns over dry conditions in North America, as well as parts of Europe, Argentina, Malaysia and elsewhere, led to a spike in oilseed and grain prices. That was particularly felt on June 15 when North American markets spiked upward and saw ICE Futures canola jump more than $20 per tonne for the most heavily-traded
ICE July 2023 canola with 20-day moving average (yellow line, right scale) and CBOT July 2023 soybean oil (dark green line, left scale). (Barchart)
Crops, Markets

ICE weekly outlook: Canola market rising into summer

New StatCan acreage estimates out next week

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MarketsFarm — ICE Futures canola contracts have climbed steadily higher since their late-May lows, nearing chart resistance to the upside on the first day of summer. Updated renewable fuel targets released by the U.S. Environmental Protection Agency failed to live up to expectations, sparking a speculative selloff in soyoil. While the limit-down move in soyoil
(Dave Bedard photo)
Crops, Markets

ICE canola futures see record daily trade volume

Previous record trading day was in 2014

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MarketsFarm — The ICE Futures canola market on Friday saw its busiest day ever, with over 90,000 contracts traded during the session, according to preliminary data. Intermonth spreading accounted for roughly half of the trade volumes on Friday as investors were busy rolling out of the front month. Daily trade volumes in canola are typically
Local residents on June 9 evacuate cattle on a barge from the Mykolaiv-region village of Afanasiivka, which was partly flooded in the Nova Kakhovka dam breach amid Russia’s attack on Ukraine.
Grain Markets, Markets

Floods, dryness, data wear on wheat

Crops in Ukraine, China and North America face pressures

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If one were to describe the wheat price situation using movie titles, the best pick would be Everything Everywhere All At Once. Prices were already affected by weather and the near-end of the spring wheat planting season. The U.S. Department of Agriculture’s monthly world agricultural supply/demand estimates were released June 9 and the U.S. Federal
ICE July 2023 canola with 20- and 50-day moving averages. (Barchart)
Crops, Markets

ICE weekly outlook: Canola will follow soyoil up or down

Prairie weather another guiding factor

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MarketsFarm — Although canola prices have been somewhat erratic over the last weeks, they along with other oilseeds have generally rebounded, according to trader Ken Ball of PI Financial in Winnipeg. Ball commented there has been a good amount of short-covering in soyoil at the Chicago Board of Trade, as markets positioned themselves for an
Viterra’s oilseed crush plant at Becancour, Que. (Viterra.com)
Crops, Markets

Bunge deal for Viterra to boost oilseed dominance, renewable diesel potential

Canada's Competition Bureau pledges to review deal

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Chicago | Reuters — Bunge’s planned acquisition of Viterra would make the world’s biggest oilseed crusher even more dominant and secure a larger role in the expanding renewable diesel industry, although it may face competition hurdles. Under the deal to create an agricultural giant worth about $34 billion including debt, Bunge’s crushing capacity will increase
Table 1. Range of measurements of seven-day accumulated precipitation in Manitoba’s agricultural regions.
Crop Report, Crops, Weather

Storms force re-seeding in some areas, pea crops see good emergence

Manitoba Crop Report: Issue 5 (week 24)

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Weekly provincial summary Precipitation was variable across agro–Manitoba from June 5 to 11 with values ranging from 0 to 82.7 mm (see Table 1 at top). Isolated storms brought significant rainfall to areas in the Northwest regions on June 7 and 8, especially near San Clara and Rivers. San Clara (82.7 mm) received the most
(File photo by Dave Bedard)
Crops, Markets

Fund short position grows in canola

Traders net long in soy, K.C. wheat

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MarketsFarm — The speculative short position in canola grew to is largest level in nearly three months in early June, as investors covered longs and put on more bearish bets, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As of Tuesday (June 6), the net managed money
Oilseed crushing and renewable diesel facilities questioned putting money into new developments.
Markets, News

Bigger-picture influences hover around weather market

A decision on U.S. biofuel blending mandates is pending

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