MarketsFarm — Canola contracts at ICE Futures showed strength earlier in the week, due to comparable strength in Chicago soyoil. “Bean oil is keeping it firm,” said Ken Ball of P.I. Financial in Winnipeg — but canola was still lagging behind. “It won’t go up as much as United States markets.” Soybean oil started to […] Read more
Tag Archives Canola — page 59
ICE weekly outlook: Canola steady at midweek
Plant-protein processor’s new processing plant gets grant
Feds, province put up cash for new equipment
The federal and Manitoba governments have added a seven-figure contribution to their support for a new facility to process plant proteins from canola and peas. Merit Functional Foods will put the additional money toward “new equipment purchases that will support the transformation of raw inputs into value-added goods.” The unspecified new technology is expected to […] Read more
U.S. investor to buy Prairie canola ‘streaming’ firm
All-cash deal offers $97.5 million for Input Capital
A U.S. investor has stepped forward with an all-cash bid for the Regina company that brought “streaming” to the Prairie canola marketing business. Input Capital, which in February last year began to review options such as a sale or merger to “enhance shareholder value,” said Wednesday it has a deal to sell all of itself […] Read more
ICE weekly outlook: Canola facing resistance ahead of harvest
MarketsFarm — ICE Futures canola contracts backed away from nearby highs during the week ended Wednesday, signalling that the top may be in for the time being as the harvest gets started. “There’s clearly been a shift in canola,” Ken Ball of PI Financial in Winnipeg said of the move away from the early August […] Read more
Canadian canola prices spike as shippers find back door to China
'Profits are extravagant... It is like gold oil now'
Winnipeg/Beijing | Reuters — Canadian canola prices have soared to the highest in nearly two years, despite a diplomatic dispute between Ottawa and Beijing, as exporters find roundabout ways to reach top oilseed buyer China. Chinese authorities have since March 2019 blocked canola shipments by two Canadian exporters, an action they took after Canadian police […] Read more
Managed money’s net long position grows in canola
MarketsFarm — Fund traders remained on the buy side in canola in early August, adding to their recently established net long position, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). Managed money fund traders were holding a net long position in ICE Futures canola of 24,489 […] Read more
Canola exports top 10 million tonnes in 2019-20
MarketsFarm — Total Canadian canola exports during the 2019-20 crop year were up nine per cent on the year, and slightly above the five-year average, according to the latest weekly data from the Canadian Grain Commission (CGC). With 229,800 tonnes exported during the final week of the 2019-20 marketing year, the preliminary total canola exports […] Read more
Crop tour suggests record-large wheat harvest ahead
Winnipeg | Reuters — Canadian farmers are on track to harvest a record-large all-wheat crop, and more canola than last year, due mainly to favourable crop conditions, advisory service FarmLink Marketing Solutions estimated Wednesday. The Winnipeg-based company’s staff toured western Canadian fields during the last two weeks of July. “We expected a big crop and […] Read more
ICE weekly outlook: Weaker U.S. dollar ripples into canola
MarketsFarm — As the Canadian dollar continues its rise, the adverse effects on canola could become more pronounced, according to Errol Anderson of ProMarket Communications in Calgary. Anderson’s expectations are for the loonie to hit a range of 75-77 U.S. cents, which could see canola drop $5-$10 per tonne. “The loonie, even though our economy […] Read more
Canada says requirements for Huawei exec’s extradition to U.S. met
Reuters — Canada’s attorney general says the requirements for extraditing Huawei chief financial officer Meng Wanzhou to the United States on charges of bank fraud have been met, documents submitted in a British Columbia court show. Meng, 48, was arrested in December 2018 on a warrant from the United States, which alleges that she misled […] Read more
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