MarketsFarm — ICE Futures canola contracts climbed to fresh contract highs during the first week of April, but ran into profit-taking resistance and could be due for more losses as the market looks overpriced. “We’re starting to see canola give back some of the extra premium it’s been putting on,” said Ken Ball of PI […] Read more
Tag Archives Canola — page 39
ICE weekly outlook: Overvalued canola market due for correction
USDA reports offer new oilseed insights from India, Japan
MarketsFarm — The Foreign Agricultural Service of the U.S. Department of Agriculture (USDA) released its weekly Global Agricultural Information Network (GAIN) reports on Wednesday, including new information regarding oilseeds in India and Japan. Oilseed production in India is projected to increase by one per cent at 42.1 million tonnes in 2022-23, according to FAS New […] Read more
Australian canola production heading downward, but still sizeable
New second-biggest harvest expected, USDA predicts
MarketsFarm — Despite canola production in Australia being set to drop 26 per cent in 2022-23, the country’s farmers are still projected to harvest the second largest crop, according to the U.S. Department of Agriculture’s attaché in Canberra. In the attaché’s report, released Monday, canola production for the coming crop year was projected to be […] Read more
Canola exports turn tiny as Canada running out
MarketsFarm — There was a tremendous drop in canola exports from Canada during week 34 of the 2021-22 marketing year, according to the Canadian Grain Commission. The commission’s report issued Thursday showed a mere 800 tonnes of canola were shipped overseas. The week before, 128,300 tonnes were outbound. “We’re really getting close to running out,” […] Read more
ICE weekly outlook: Canola in its own world, analyst says
MarketsFarm — To market analyst Wayne Palmer of Exceed Grain, canola “has been in a world of its own for about the last month,” and he expects that will remain the case for some time. Canola, he explained, has generally done the opposite of the Chicago soy complex — which the Canadian oilseed normally follows. […] Read more
ICE weekly outlook: Strong canola market to ‘see both sides of rainbow’
MarketsFarm — ICE Futures canola contracts climbed to their highest levels ever during the week ended Wednesday before running into some profit-taking resistance. Its general uptrend remains intact for the time being, but a downturn is also inevitable. The nearby May canola contract hit a session high of $1,177.80 per tonne on Wednesday, before backing […] Read more
AAFC warns of uncertainty in latest crop outlook
MarketsFarm — The supply/demand balance sheets for Canada’s major crops were largely left unchanged in the latest outlook Friday from Agriculture and Agri-Food Canada. While the March report only saw minor revisions, the government agency cautioned that “the economic outlook, for the world and Canadian grain markets, is particularly uncertain due to the Russian invasion […] Read more
ICE weekly outlook: Canola lower, but expected to climb
MarketsFarm — Although canola prices closed lower on Wednesday, the Canadian oilseed is seen as still likely to grind higher in the coming weeks. “The charts and the patterns that have developed, and are still in place for canola, have been kind of the same for the past few months. The longer-term trends are still […] Read more
Oil content of Canada’s canola well below average in 2021
MarketsFarm — The average oil content of Canada’s canola crop came in well below normal in 2021-22, according to the final quality report for the year from the Canadian Grain Commission (CGC). The average oil content came in at only 41.3 per cent for the year, which compares with 44.1 per cent the previous year […] Read more
ICE weekly outlook: Canola’s contract highs still underpriced
MarketsFarm — The ICE Futures canola market posted solid gains during the week ended Wednesday, hitting fresh contract highs in many months. The most active May contract hit a session high of $1,143.70 per tonne on Wednesday, but settled off that mark at $1,125.20 per tonne. While canola may be trading in uncharted territory, there […] Read more
Cyber-Savvy Farmer
