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Tag Archives Canola

A canola crop blooms in Manitoba’s Interlake in August 2022. For canola, and many other crops, pretty much anything was going to be an improvement over the drought in 2021.
Grain Markets, Markets

A look back at grain markets in 2022

Manitoba farmers evaded the dry conditions that continue in other parts of the Prairies

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Optimism is the lifeblood of farming, always looking to the coming year with thoughts that it will be better than the one before. For canola and other crops, pretty much anything was going to be a vast improvement over the drought-stricken harvest of last year, and such was the case. Despite harvest 2022 being modestly
ICE March 2023 canola with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets

ICE weekly outlook: Sideways canola market watching macros

USDA report may offer nearby direction

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MarketsFarm — ICE Futures canola contracts remain stuck in a sideways trading range to start the New Year, with bearish outside forces countered by relatively supportive fundamentals. From a chart standpoint, March canola is stuck in a sideways range between $800 and $900, with little to suggest a break one way or the other for
ICE March 2023 canola with Bollinger bands (20,2). (Barchart)
Crops, Markets

ICE weekly outlook: Markets rangebound into the New Year

ICE canola plays catch-up on CBOT gains

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MarketsFarm — As 2022 comes to an end, a trader stated the commodities market will very likely remain rangebound through the New Year. Ken Ball, of PI Financial in Winnipeg, said there’s heavy spreading, as well as the maneuvering of year-end positions and plenty of liquidation going on at the moment, “all trapped in a
Limp wheat plants, a result of the climate phenomenon La Nina, at a farm in Navarro, in Buenos Aires province, Argentina December 5, 2022.
Grain Markets, Markets

Canola trade keeps eye on South America’s weather

Canola continues to fluctuate within its $800-$900 trench

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Choppy trade with no real clear direction became the major storyline in the ICE Futures canola market heading into the end of 2022, as investors squared positions and looked to book profits. That’s normal for this time of year as participants head to the sidelines ahead of the holidays, but there are several factors to
File photo of the Rainbow Bridge across the Niagara River between Ontario and New York. (Bloodua/iStock/Getty Images)
Crops, Markets

Large gap between StatCan, USDA canola estimates

USDA sticks closer to StatCan expectations on wheat

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MarketsFarm — There’s a significant difference in the amount of canola grown in Canada during 2022-23, in the estimate from Statistics Canada (StatCan) compared to that from the U.S. Department of Agriculture (USDA). Earlier in December, StatCan’s survey-based production of principal field crops report pegged this year’s canola harvest at 18.17 million tonnes. That’s a
(Dave Bedard photo)
Crops, Markets

AAFC raises canola stocks projection, despite smaller crop

Department also trims wheat ending stocks

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MarketsFarm — Canadian canola ending stocks for 2022-23 were revised higher by Agriculture and Agri-Food Canada in its latest supply/demand estimates, released Friday. The larger carryout projection came despite a downward revision to production, as both exports and domestic usage were also down from the November report. The government agency now sees canola carryout of
Markets, News

Australia forecasts record wheat crop despite floods

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Reuters – Australia is expected to produce a bumper year of crops including record wheat production in the current financial year, the government said Dec. 6, despite the impact of widespread flooding in the country’s eastern region. Total winter crop production across the country is forecast to total 62 million tonnes, the second highest on
Where does the canola market go now?
Grain Markets, Markets

Where does the canola market go now?

Less production in Canada may or may not mean higher prices in the New Year

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The canola market took a turn on Dec. 2 when Statistics Canada lopped off more than 900,000 tonnes from its previous production call for the oilseed. Farmers and traders are faced with less canola, which threw a wrench into things. As expected, less canola coming off Western Canadian fields provided a strong boost to the oilseed’s
ICE March 2023 canola with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets

ICE weekly outlook: Canola trade’s focus on South America

Canola still entrenched in $800-$900 range

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MarketsFarm — ICE Futures canola contracts held relatively rangebound during the week ended Wednesday, looking for some direction to push values one way or the other. “We’re just watching South American weather now,” said Jaimie Wilton, commodities futures specialist with RJ O’Brien in Winnipeg, pointing to the drought in Argentina and the relatively favourable conditions

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