MarketsFarm — Heat and drought across Western Canada during the summer of 2021 seriously cut into the country’s crop production, raising traders’ expectations for reduced yields across the board when Statistics Canada on Monday releases its first production estimates of the year. Canola production is estimated at 11.5 million to 16 million tonnes, which would […] Read more
Tag Archives Canola — page 46
Smaller crops anticipated in looming StatsCan report
Survey-based data due out Monday
Ag department lowers crop production, export estimates
Expectations knocked down for most major Prairie crops
MarketsFarm — Canadian crop production will be down significantly in the 2021-22 marketing year, cutting into exports for all of the country’s major grains, oilseeds and pulse crops. That’s the estimation from the latest supply/demand estimates from Agriculture and Agri-Food Canada (AAFC), released Thursday. Total field crop production for all crops is forecast to decrease […] Read more
ICE weekly outlook: Canola rangebound, awaits report
New StatsCan data due out Monday
MarketsFarm — ICE Futures canola contracts saw some choppy activity during the week ended Wednesday, hitting their lowest levels in nearly a month before recovering back toward the upper end of their wide sideways range. A new production report from Statistics Canada, due out Monday (Aug. 30), could set the stage for a break one […] Read more
CBOT weekly outlook: Factors worth watching
Oats showing recent strength
MarketsFarm — Choppiness in Chicago Board of Trade (CBOT) soyoil, a potential increase in corn prices and an upcoming production report from Statistics Canada are factors on which grains analyst Terry Reilly suggests keeping an eye. Soyoil has been hit by early reports that the U.S. Environmental Protection Agency was going to recommend to the […] Read more
Imperial Oil lays out Alberta renewable diesel plan
Company would use 'locally grown' canola, soybean oils
Reuters — Imperial Oil, one of Canada’s biggest oil producers and refiners, on Wednesday outlined a plan to process vegetable oil into renewable diesel at its 191,000-barrel-per-day Edmonton-area refinery. The project, which still requires final approval, is part of majority-owner Exxon Mobil’s goal of producing more than 40,000 barrels per day of low-emissions fuels by […] Read more
ICE weekly outlook: Canola remains expensive
MarketsFarm — Concerns over the likelihood of a much smaller canola crop than previously anticipated, coupled with a very tight supply situation, continued to underpin values this week. That price rationing in turn has kept canola more expensive than other edible oils, according to trader Keith Ferley of RBC Dominion Securities in Winnipeg. “The market […] Read more
Richardson buys up veg oil-based drilling lubricant maker
Grain firm supplies canola oil to Control Chemical
The Calgary maker of Matex drilling fluids is under new ownership from one of its minority owners and its biggest supplier of crude canola oil. Winnipeg grain firm Richardson International announced last Tuesday it has bought full ownership of Control Chemical Corp. for an undisclosed amount. Control Chemical is billed as a specialized manufacturer of […] Read more
ICE weekly outlook: Something of a tough week for canola
MarketsFarm – It was a bit of a tough week for canola on the Intercontinental Exchange (ICE), although there was something of a bright spot after the release of the August supply and demand estimates from the United States Department of Agriculture (USDA). As one trader put it, canola did its job by increasing in […] Read more
ICE weekly outlook: Major canola supply issues ahead
MarketsFarm – There’s a looming problem that’s on the verge of surfacing in the Canadian canola market – many growers will be unable to fulfill their contracts due to lower production. The drought across the Prairies dashed canola production estimates from the initially anticipated 20 million tonnes, to something that could be in the range […] Read more
ICE weekly outlook: Volatility expected in canola markets
MarketsFarm – The ICE Futures canola market saw some large price moves during the week ended Aug. 4, hitting their lowest levels in a month as investors booked profits before recovering to hold relatively range-bound overall. More choppiness is expected over the next few weeks, as the market waits to get a better handle on […] Read more
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