MarketsFarm — After May and July canola contracts took hefty hits over the past the week, they skyrocketed to close out the calendar month following a pair of reports from the U.S. Department of Agriculture (USDA). The department on Wednesday issued its first survey-based prospective planting report for 2021, which called for increased acres for
The ICE Futures canola market went for a wild ride during the last week of January, hitting levels not seen in nearly 13 years before profit-taking took a bite out of the upside. The nearby March contract rallied sharply for three straight sessions, eventually hitting a high for the move of $724.50 per tonne. The last time canola was
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ICE Futures canola made significant gains during the week ended Nov. 5, after starting the week in the red. Canola prices started the week at $534.90 per tonne, with the January contract losing over $7 per tonne. However, unseasonably balmy weather and support from comparable vegetable oils gave prices a much-needed boost throughout the week, and the January
Where are canola prices going this fall?’ That’s been a common question, both this year and in years past. Many factors from around the world combine to affect canola prices. From production science, to consumer trends, to shipping and logistics, from new product uses, government regulations and trade barriers, to commodity substitutability — all affect the marginal supply
Canola prices held steady during the week ended May 15, despite turbulence from outside markets. Nearby canola contracts started the week at $471.30 per tonne and traded on either side of unchanged for consecutive trading sessions during the week. On May 14, the July contract closed at $470.70 per tonne. July soyoil dropped by about
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
Canola prices were up and down like a yo-yo last week in what was a volatile commodities market, be it the Intercontinental Exchange (ICE) or the Chicago Board of Trade (CBOT). Coming off the Victoria Day long weekend, ICE canola bids began the week down 20 to 80 cents per tonne, then jumped by about
China is facing the grim reality of its massive hog industry taking a huge blow due to African swine fever. The BBC has reported China has already culled about 40 million hogs. This came after more than 120 cases of African swine fever were found in most parts of China. Rabobank has issued a projection
CNS Canada – Canola futures slid to their lowest levels in 15 months during the week ended Nov. 9, but managed to uncover some support to the downside and could be consolidating. While off-the combine deliveries were slowing down with the advent of winter, the commercial pipeline is still filled with recently harvested canola supplies.