Canola prices were on the rise for the week ended June 11 as depleted stocks and dry weather gave the markets a lift.
Canola
ICE Weekly: Low stocks, dry weather raising canola prices
Upcoming rains could pull prices back
Manitoba crops 99 per cent planted
Five points ahead of average
Seeding operations across Manitoba largely wrapped up during the week ended June 10, with 99 per cent of intended acres in the ground, according to the latest provincial crop report. That was up four points from the previous week and compares with the five-year average of 94 per cent done.
Tariffs on canola seen supercharging Canadian farmers’ shift to spring wheat
U.S. Great Plains farmers skipping the cereal in favour of more profitable crops
The prospect of Chinese and U.S. tariffs on canola have prompted Western Canadian farmers to seed more wheat.
China seeks improved ties with Canada amid rising trade tensions
Carney and Li agreed to establish regular communication channels
China called on Friday for steps to improve bilateral ties with Canada, saying there were no deep-seated conflicts of interest, following a spike in trade tensions with many of Beijing’s Western trade partners this year.
China blocks Canada’s request for review of Chinese duties on agriculture, fish
Next meeting June 23
China has blocked Canada's request to set up a dispute panel to review additional import duties by China on certain Canadian farming products and fish, a Geneva-based trade official said on June 5.
ICE canola weekly outlook: Weather to drive market
Conditions range from too dry to too wet
Weather conditions across the Canadian Prairies will likely be a major driver of the canola futures market in the weeks ahead, as attention shifts from the tight old crop supply situation to the prospects for the new crop.
Spring planting in Manitoba close to finished
Province gets very little rain over the week
Dry conditions continued to spur quick seeding progress in Manitoba, as the provincial agriculture department reported spring planting reached 95 per cent complete as of June 3.
As seeding nears end in Alberta, moisture becoming an issue
Planting advances 10 points at 90 per cent complete
Spring planting in Alberta entered the home stretch with overall progress at 90 per cent seeded as of May 27, the province's agriculture department reported. Provincewide, the pace put Alberta farmers nine points above the five-year average.
Australia forecasts wheat output down 10 per cent on dry conditions
Barley, canola also hit
Australia's wheat production is projected to drop 10 per cent this year to 30.6 million tonnes, with barley and canola output also expected to fall due to dry conditions across several cropping regions, the agriculture ministry, ABARES, said.
ICE Canada Weekly: Canola to move with the weather
Announcement pending on 45Z biofuel tax credit
As May winds down the prospect of rain saw canola futures on the Intercontinental Exchange fall back on May 28, with the old crop July contract taking the biggest hit.
Cyber-Savvy Farmer
