Canola prices hung on fairly well during the week ended Oct. 9, but Canadian farmers may still see canola heading under $600 a tonne
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GRAIN MARKET: Good week for canola not likely to last
Canola could be heading down below $600/tonne
Canadian canola crush hit record in 2023: StatCan
Oilseed processors in Canada crushed a record amount of canola during the 2023 calendar year, according to a report from Statistics Canada released March 13.
July canola crush sets new records
Soybean crush down slightly from last July
MarketsFarm — Statistics Canada reported very sizeable increases in the July canola crush when compared to a year ago. In fact, the month’s crush was not only a record for July but also for any month. Meanwhile, StatCan found the July soybean crush was slightly lower than in July 2022. The federal agency pegged the
USDA June soybean crush seen at 175.5 million bushels
If estimate realized, would be smallest monthly crush since September
Chicago | Reuters – U.S. soy processors likely crushed 5.265 million short tons of soybeans, or 175.5 million bushels, in June, according to the average forecast of eight analysts surveyed by Reuters ahead of a monthly U.S. Department of Agriculture (USDA) report. If the estimate is realized, it would be down from the 189.3 million
ICE weekly outlook: Canola likely rangebound until spring
MarketsFarm — Unless something very dramatic were to happen in the coming weeks, canola futures on the ICE Futures platform will remain rangebound at least until spring, according to David Derwin, analyst with PI Financial in Winnipeg. “Canola has been very rangebound for the last six to seven months,” he said, noting downward fluctuations during
ICE weekly: Canola regains strength after days of declines
MarketsFarm — After a losing string of four straight sessions, the ICE Futures March canola contract regained some strength on Wednesday. Limited and choppy trading in nearby soybean contracts had pulled down canola for most of the week, according to Winnipeg-based independent trader Jerry Klassen. “When the March got up to $868-$870 (per tonne)… there
U.S. grains: Soybeans follow soybean oil lower
CBOT wheat, corn retreat
Chicago | Reuters — U.S. soybean futures fell nearly two per cent on Wednesday, anchored by a profit-taking plunge in soyoil and crude oil futures, traders said. Wheat and corn futures declined on optimism about an extension of a deal to protect Black Sea exports, and as fears eased that the Ukraine war could escalate
Cream of Wheat maker to buy Crisco line from Smucker
Shortening, cooking oil brand goes to B+G Foods
The U.S. company behind the Crisco brand of cooking oils and shortenings is selling that product line to the maker of Cream of Wheat cereal and Green Giant vegetables. New Jersey-based B+G Foods announced Monday it will buy the Crisco product lines from Ohio-based J.M. Smucker for about US$550 million (C$725.1 million). The sale includes
ICE weekly outlook: Harvest pressure set to increase
CNS Canada — The canola market will likely be tested in coming days as harvest pressure, both north and south of the border, intensifies. While futures enjoyed a bounce upward following a bearish report from the U.S. Department of Agriculture on Tuesday, the technical bias appears to be pointed lower. The front-month November contract at
First U.S. trader convicted of spoofing sentenced to jail
Chicago | Reuters — A U.S. judge sentenced futures trader Michael Coscia to three years in prison on Wednesday, a lighter punishment than prosecutors had sought for the first person criminally convicted of the manipulative trading practice of spoofing. Coscia also was sentenced to two years of supervised release from jail, in a case that