Canola holds steady as seeding gets underway

Canola holds steady as seeding gets underway

Crude oil pressures and potential for major soy exports weigh in on trading

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

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





(File photo courtesy Canola Council of Canada)

Canola futures continue their slide

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.

The Archer Daniels Midland Co. (ADM) logo is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., May 3, 2018.
 Photo: REUTERS/Brendan McDermid

ADM earnings double, helped by U.S.-China trade row

Chicago | Reuters – Archer Daniels Midland Co’s net profits doubled in the second quarter and beat Wall Street estimates, after a drought in Argentina and the U.S.-China trade spat boosted the U.S. grain merchant’s trading and oilseed processing businesses. Shares were up 1 percent at $47.86 after touching a three-year high on the New


Oilseeds see sharp gains despite bearish reports

Oilseeds see sharp gains despite bearish reports

Traders are already second-guessing StatsCan on acres

ICE Futures Canada canola contracts climbed higher over the course of the week ended June 30, hitting their best levels in months, despite large North American oilseed acres confirmed by Statistics Canada and the U.S. Department of Agriculture. Record Canadian canola seedings and a six-million-acre increase in U.S. soybean area would typically be bearish for

Canola under pressure as U.S. soybeans trend lower

Canola under pressure as U.S. soybeans trend lower

Soy futures outweigh canola market fundamentals, for now

ICE Futures Canada canola contracts fell hard over the course of the week ended June 2, as fund selling and losses in Chicago soybeans weighed on values. Speculators bailing out of long positions and putting on short positions in some cases were a feature of the activity during the week, with chart stops hit on



Canola remains rangebound as new-crop outlook fuzzy

Canola remains rangebound as new-crop outlook fuzzy

Charts suggest U.S. soybeans are still pointed lower

ICE Futures Canada canola contracts fell to their lowest levels in more than six months on April 3, but bounced off those lows and were higher overall by the close on April 7. A bearish reaction to the U.S. Department of Agriculture’s prospective plantings and quarterly stocks reports sent soybeans in a tailspin lower, and