GFM Network News

Canola moved upwards in lockstep with soy futures after a surprising planting projections survey.

Up limit spike points to more acres needed

A key USDA report shocked the market and resulted in prices moving upward

Shock and awe rocked the markets on March 31 after the United States Department of Agriculture (USDA) issued its prospective plantings report. The first survey-based projections for 2021 caught the markets largely off guard that Wednesday, which sent prices to their daily limit in several commodities. That not only included the soy complex and corn

ICE canola can’t hang on to its recent gains

ICE canola can’t hang on to its recent gains

Canola traders will now turn their attention to the skies

ICE Futures canola contracts ran into resistance during the week ended June 11, repeatedly trying and failing to continue the short-covering rally that had boosted prices off of nearby lows to start the month. Intermonth spreading was a feature, accounting for heavy volumes on occasion, as traders rolled out of the nearby July contract into

Crude oil tanks at Kinder Morgan’s Sherwood Park, Alta. terminal on Nov. 14, 2016. Soyoil, a bellwether for canola, is closely connected to world crude oil prices.

Canola futures remain steady amid pandemic

Their alignment with soyoil ties canola values to crude oil’s fortunes

Despite turmoil around the world due to the COVID-19 pandemic, canola prices didn’t change much from week to week. ICE Futures’ May canola contract closed March 20 at $461.70 per tonne; by March 26, May canola was at $462.80 per tonne. Fuelling that steadiness has been soyoil on the Chicago Board of Trade (CBOT). Closely

Empty shelves out of stock of pasta are pictured in a supermarket in London, England, March 6, 2020.

Fear is the price killer in commodity markets

COVID-19 | Cuts in key interest rates helped slow the declines in futures

There’s no doubt that the COVID-19 coronavirus is having a tremendous effect on commodity markets. Although Canada and the United States have a mere fraction of the reported cases and deaths, fears toward COVID-19 have generated sharp losses in North American markets. There was something of a reprieve this week as the U.S. Federal Reserve

Employees at the Tiplam terminal in Santos, Brazil load soybeans on a cargo ship bound for China on March 13, 2017.

Beijing is in control of global soybean market

China’s demand is dropping as it commits to more U.S. supplies

China is pretty much in control of the global soybean market, and could stay in that position for the rest of 2020. Following the signing of the Phase 1 trade pact between the United States and China, it was widely expected soybean prices on the Chicago Board of Trade (CBOT) would shoot up — especially since the deal requires China to dramatically increase its agricultural purchases from the U.S.

(Medioimages/Photodisc/Getty Images)

CBOT weekly outlook: Headlines, geopolitics drive prices

MarketsFarm — To Terry Reilly, about the only things driving the Chicago Board of Trade (CBOT) are headlines and geopolitics developments. “Traders are trading headlines,” Reilly, an analyst for Futures International in Chicago, said in reference to the latest developments in U.S.-China trade talks. Reports on Wednesday morning said the two countries were close to

ICE canola futures remain rangebound

ICE canola futures remain rangebound

Talk of more trade talks supports Chicago futures

The ICE Futures canola market flatlined during the second week of November, trading within a rather narrow sideways range and showing little incentive to break one way or the other. The steady tone came despite a sizable drop in Chicago Board of Trade (CBOT) soyoil prices, as world vegoil markets backed off nearby highs. Soyoil