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There’s little doubt the abundance of oilseeds in the world market will weigh on prices.
Grain Markets, Markets

Total oilseed production eases back

USDA sees major drop in some production areas, but stays steady on Canadian canola

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REDUCTIONS USDA sees major drop in some production areas, but stays steady on Canadian canola

Production of the world’s oilseeds was trimmed back by the United States Department of Agriculture last week, which forecast 625.38 million tonnes for 2022-23 in its world markets and trade report. In March, the USDA pegged global production at 629.89 million tonnes. But despite the reduction in April, it’s still a significant increase from the
ICE July 2023 canola with Bollinger bands (20,2). (Barchart)
Crops, Markets

ICE weekly outlook: Weather to influence canola price movement

Short-covering seen supporting front months for now

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MarketsFarm — Canola contracts on the ICE Futures platform held relatively rangebound during the week ended Wednesday, trading within a $20 per tonne range in most months as market participants wait to get a better handle on new-crop prospects. “There’s some concern developing on seeding delays,” said Jamie Wilton of RJ O’Brien in Winnipeg, adding
The difference between a dry year and one with timely moisture is dramatic in the brown soil zone. Joseph McKee’s 2020 crop (shown in late July) yielded 65 bushels an acre while the dry conditions last year (photo taken in early July) produced a 20-bushel-an-acre crop on his Lethbridge-area farm.
Crops, Oilseeds

Palliser Triangle: It’s hot and dry — and the next frontier for canola

With crush capacity soaring, canola council looks to the brown soil zone and new heat-tolerant varieties

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Glacier FarmMedia – The canola industry has its eyes on the Prairies’ most inhospitable regions and knows potential growers will need support. The Canola Council of Canada is setting up research it hopes will drive sustainable canola growth in the brown soil zones of the Palliser Triangle, one of the hottest, driest regions of the Prairies. With canola
Recent price drops hide wheat’s weather situation
Grain Markets, Markets

Recent price drops hide wheat’s weather situation

Southern U.S. winter wheat-growing areas remain in drought

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As the calendar turned over to April, the focus for traders on the Chicago Board of Trade turned toward weather. There can be a tendency to either react based on recent weather events, ignore potential long-term weather trends, or both. In the case of wheat, the recent weakness shown in all three major U.S. varieties
ICE November 2023 canola with Bollinger bands (20,2) and May 2023 canola (black line). (Barchart)
Crops, Markets

ICE weekly outlook: New-crop November canola set to step back

StatCan not expected to sway futures much

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MarketsFarm — There is presently little upside to new-crop November canola on ICE Futures, according to analyst Errol Anderson of ProMarket Communications in Calgary. Anderson pointed to losses in Malaysian palm oil and weakness in China’s soymeal market as weighing on ICE canola values, with more pressure coming out of South America. “The [soybean] production
Before applying any crop protection product, read the label to find the application rate, timing and pre-harvest interval.
News

Keep it Clean: More than just good advice

Program a “one stop shop” for ensuring grain marketability

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Market access issues in general are becoming a bigger issue globally, according to Ian Epp, an agronomy specialist and market access and pesticides lead with the Canola Council of Canada. “We see more scrutiny under those things.” Why it matters: International market standards can be a mess to detangle, and present a nasty surprise if
Louis Dreyfus’ oilseed processing plant at Yorkton, Sask. (LDC.com)
Crops

Louis Dreyfus expanding Yorkton canola crush plant

New expansion would more than double plant's capacity

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Louis Dreyfus’ Yorkton, Sask. canola crushing plant is about to undergo another major expansion. The project, announced Tuesday, is expected to add an additional canola crushing line and more than double the plant’s annual capacity to over two million tonnes upon completion. Construction is due to begin later this year. The crush plant, built in
(File photo by Dave Bedard)
Crops, Markets

Canola fund short position shrinking

Managed money is net long on corn, soy

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MarketsFarm — Managed money fund traders continued to cover their large short positions in canola in early April, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As of April 4, the net managed money short position in canola futures came in at 49,470 contracts (70,671 short; 21,201
(Screengrab from Merit Functional Foods video via YouTube)
Crops

Bidding open for Merit Foods for two more weeks

Stakeholder Burcon plans to put up 'compelling bid'

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The fate of Winnipeg pea- and canola-based protein processor Merit Functional Foods won’t be confirmed until the end of April at the earliest. Merit, whose major shareholders include Vancouver plant-based protein firm Burcon NutraScience, U.S. agrifood firm Bunge and former executives of Hemp Oil Canada, was placed into receivership March 1. According to the first
Attention will turn to the weather as spring planting approaches.
Grain Markets, Markets

Canola futures edge downward after good run

New crop canola was especially hard hit and now the trade is watching weather

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As the old saying goes, all good things must come to an end. That’s exactly what happened to canola futures on the Intercontinental Exchange at the close of trading March 30, as the Canadian oilseed marked its first losses since March 22. That past Wednesday, the nearby May contract lost $9.40 to close at $720

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