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Bullish signals loom large over rangebound canola trade
Grain Markets, Markets

Bullish signals loom large over rangebound canola trade

Supplies in the commercial pipeline remain large for now

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The ICE Futures canola market held rangebound during the week ended Oct. 20, with historically wide crush margins and supportive underlying fundamentals still not enough to break values out of their sideways pattern. However, there were some bullish technical signs hinting a turn higher could be in the works. Intermonth spreading accounted for much of
Manitoba growers are prepared to try advanced 4R techniques but wary of risks.
Crops, Farmit Manitoba

Farmers open to new 4R practices; concerned about risks

About half of western Canadian wheat and canola acres are already officially managed with 4R

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Manitoba farmers say they are open to trying new 4R techniques and building upon current practices but have an eye on cost and risks. It’s important to be challenged by the question, “what more can we do to reduce our emissions… while running a farm properly?” said Dean Harder, who farms near Morris. During this
AAFC made some small tweaks in its estimates for the 2022/23 wheat crop. Photo: Greg Berg
Crops, Markets

AAFC tweaks some numbers as canola, pulses remain unchanged

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MarketsFarm – While Agriculture and Agri-Food Canada made some changes in its October supply and demand estimates from September, the department didn’t make any alterations to its data for canola, pulses and special crops. The department released its report during the late afternoon of Oct. 21. Of the grains and oilseeds, AAFC’s most notable revisions
With seasonal harvest pressure waning, extremely wide crush margins continue to make the best case for why canola prices could move higher.
Grain Markets, Markets

Canola futures remain rangebound for now

Recent weakness in the loonie is supportive for exports

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The ICE Futures canola market held rangebound through the first half of October after running into the top end of its months-long trading range. There are plenty of reasons why canola could break higher, but the market doesn’t operate in a vacuum and continued steadiness or even a move lower are also possibilities. The nearby
ICE January 2023 canola (candlesticks) with Bollinger bands (20,2) and 100-day moving average (black line). (Barchart)
Crops, Markets

ICE weekly outlook: Canola sees choppy, sideways month-end trade

Wide crush margins remain bullish

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MarketsFarm –– ICE Futures canola contracts held within a narrow range during the week ended Wednesday, lacking any clear direction with the rolling of positions out of the nearby November contract ahead of its expiry behind much of the trade volumes. “We’re stuck a little rangebound here,” a Winnipeg-based trader said of the sideways activity,
Canola plants in flower in a field north of Lorette, Man. on July 20, 2022. (Dave Bedard photo)
Crops

Prairie-wide canola variety trial program ending

'Current format' of CPT concludes: commissions

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The sun is about to set on the current Prairie-wide canola variety evaluation program run by the three Prairie provinces’ canola grower commissions. SaskCanola, the Alberta Canola Producers Commission and the Manitoba Canola Growers Association announced Monday that 2022 is the final year of the Canola Performance Trials (CPT) “in its current format.” “Going forward,
Canola flirts with $900 a tonne
Grain Markets, Markets

Canola flirts with $900 a tonne

A good selling point appears to be around $880 a tonne

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For a fleeting moment on Oct. 4, it looked like the nearby November canola contract might pierce the $900 per tonne mark.  It would have been the culmination of a meteoric $28/tonne intra-day rise for the oilseed, and a $90 rise over the previous eight sessions, if it hadn’t hit a wall and fallen to
Photo: iStock
Markets

Weekly Canadian canola exports climb higher

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MarketsFarm – An influx of freshly harvested supplies saw weekly Canadian canola exports hit their highest level in nearly two years at the end of September 2022, according to the latest Canadian Grain Commission report. The 300,500 tonnes of canola exported during the week ended Oct. 2 marked the first time exports topped 300,000 tonnes

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