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Crude oil prices are just one factor affecting canola prices.
Grain Markets, Markets

Crude oil correction could corral canola markets

Black gold underpins all commodity markets, including agriculture

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In the world of commodities, crude oil rules, even when it comes to agriculture. It is needed to power the tools and the equipment to seed, harvest, transport and, in some cases, turn crops into final products. Some of those products are also in competition with crude oil itself. As a result, oilseeds and vegetable
Vegetable oils give canola market a lift
Grain Markets, Markets

Vegetable oils give canola market a lift

Canola seems to be finding support from various sources

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After months of misery, it has been a mighty March for canola so far. Since March 1, the May contract for the oilseed has moved up nearly $50 per tonne on the Intercontinental Exchange, including a gain of $19.70 during the week ended March 21. In the current month, there were only five days when
Manitoba produced about 218,000 tonnes of peas in 2023.
Crops, Markets, Pulses

Anti-dumping case may affect pea flow

A U.S. duty on Chinese pea protein could reduce the amount of peas that China imports for its fractionation business, which Canada feeds into

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Glacier FarmMedia – A U.S. antidumping investigation into Chinese pea protein could change trade flows for Canadian yellow peas in 2024-25, traders of the commodity say. In a preliminary determination handed down Feb. 8, the U.S. Department of Commerce hit two Chinese manufacturers with an antidumping duty of 280 per cent. Other Chinese firms faced a 122 per cent
Palm oil accounts for the largest percentage of vegetable oil consumed globally.
Grain Markets, Markets

Agricultural sector is an oily business

Expert's Radar: From crude oil to the various edible oils, all are important factors to consider in agriculture

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When eating a nice meal, plenty of different oils can come into play. Canola oil to fry the onions, olive oil for the salad, some butter for the bread, and even crude oil for the fuel that brought all those ingredients to the grocery store. This varied assortment all has an impact on marketing success.
One of the major factors that pulled canola prices lower until recently was a huge influx of South American soybeans coming on the market.
Grain Markets, Markets

Canola prices higher in rangebound movement

Spring rally still expected, but it may not be a sharp uptick this year

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There isn’t much to be overly concerned about now regarding canola futures on the intercontinental exchange. Despite declines, the Canadian oilseed remained a fair bit higher than a week ago. This is pleasant news, given how canola has tumbled downward in recent months. In short, canola can be seen as rangebound. There is a deficit
China backs out of Aussie wheat sales
Markets, News

China backs out of Aussie wheat sales

Australia joins the U.S., which has also seen recent Chinese wheat sales fall through

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Chinese wheat importers have cancelled or postponed about one million tonnes of Australian wheat cargoes, said trade sources with direct knowledge of the deals, as growing world stockpiles drag down prices. The news comes after the U.S. government recently reported cancellation of more than 500,000 tonnes of U.S. soft red winter wheat exports to China, the world’s
Canola acres are estimated at anywhere from 21 million to 22.7 million, which compares with 22.1 million acres in 2023.
Grain Markets, Markets

Crop plans, grain markets countdown to spring

Expert’s Radar: Recent snowfall eases some moisture worries as thoughts turn to spring

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March comes in like a lion and goes out like a lamb, according to the old saying that alludes to the idea that storms early in the month are often followed by milder spring weather as the calendar turns to April. Much of Western Canada welcomed snow in early March and the moisture eased some
Canola price sees slight growth
Grain Markets, Markets

Canola price sees slight growth

Unpriced canola stocks expected to trigger selling into recoveries

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The canola market finally showed signs of strength in the first week of March, moving above some key chart points as values stabilized after trending lower for the previous five months. The May contract climbed above its 20-day moving average, settling above the psychological $600 per tonne mark on March 7. The contract traded consistently
Are we at market bottom yet?
Grain Markets, Markets

Are we at market bottom yet?

[Expert's Radar] May canola appears to have found solid nearby technical support at $580 per tonne

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One Thanksgiving, after what must have been a very filling dinner at my grandma’s apartment, a group of my cousins and I, all in town for the holiday, decided to see a movie (School of Rock, if you want to date this anecdote). We never made it to the theatre because the elevator from the
Are corn markets poised for a rebound in March?
Grain Markets, Markets

Are corn markets poised for a rebound in March?

Ethanol and possibility of China purchases support a rebound

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The leap year’s extra day in February provided another one with misery for crop prices on both sides of the Canada-U.S. border. Whether canola, corn, wheat or the Chicago soy complex, all May contracts were under their respective 50- and 100-day averages, and all had large net short positions as of Feb. 29. Each one

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