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WEEKLY WRAP: May canola rises $25.90 on week as farmer look for warmer weather

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Canola closed little changed on Friday even though the Statistics Canada seeding intentions report was somewhat bearish for the oilseed. It was generally a neutral day in the grain markets and the Canadian dollar was a little lower. StatsCan said canola area would rise 10 percent to a record 22.39 million acres. Analysts were surprised by an increase in spring wheat area, up eight percent at 16.66 million. They expected a slight decline. The decline in durum was expected. It fell 17 percent to 5.15 million acres. There was huge increase in soybean area in Manitoba and Saskatchewan, bringing the national total to almost seven million acres, an increase of 27…
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Analysts’ views of seeding report: record canola area, huge jump in soybean acres

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By Dave Sims, Commodity News Service Canada WINNIPEG, April 21 (CNS) – Canadian oilseed acreage is set to boom according to the latest acreage estimates from Statistics Canada. Today, the agency released its Principal Fields Crops Acreage Summary for 2017-18 on April 21. It pegged canola acreage at a record 22.387 million acres, a jump of 2.02 million acres over last year. “It's no surprise that we see higher canola acres, but this number comes in at the high end of trade expectations,” said Mike Jubinville of ProFarmer Canada in Winnipeg. He adds many farmers are going into canola with the primary focus of achieving higher returns per acre. “With disease issues…
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Loonie dips on cool inflation

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By Fergal Smith

TORONTO, April 21 (Reuters) - The Canadian dollar weakened on Friday against its U.S. counterpart as cooler-than-expected domestic inflation reduced pressure on the Bank of Canada to consider interest-rate hikes.

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Seeding Intentions: canola and soybeans increase

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Canadian farmers seen planting biggest-ever canola area

By Rod Nickel and David Ljunggren WINNIPEG/OTTAWA, April 21 (Reuters) - Canadian farmers intend to plant their biggest-ever canola area, exceeding trade expectations, and trim wheat sowings, according to Statistics Canada's first report on seeding for the year, released on Friday. The report turned ICE Canada November canola futures negative, dipping 0.4 percent after the report. Later, at midmorning November…
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CME live cattle futures again notch 1-year highs

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CHICAGO, April 20 (Reuters) - Chicago Mercantile Exchange live cattle futures climbed on Thursday to a one-year top for the third straight day, and deferred contracts marked fresh highs, helped by firmer wholesale beef values, traders said. April live cattle  closed 1.700 cents per pound higher at 129.625 cents. June  ended 0.525 cent higher at 116.475 cents and hit a new high of 117.475 cents. Thursday morning's average wholesale beef price was up 20 cents per cwt to $215.37 from Wednesday. Select cuts jumped $1.58 to $203.58, the U.S. Department of Agriculture said. Retail beef buying picked up as grocers feature product for spring grilling while stocking up for mid-May…
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ICE Canada canola futures rise on weather woes, tight supplies

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WINNIPEG, Manitoba, April 20 (Reuters) - ICE Canada canola futures rose on Thursday, hitting a one-month high for the fourth straight day, on concerns about snowy weather in parts of the Canadian Prairies. Northern Alberta, where a significant area of last year's crop remains unharvested, received heavy snow in the past week. Farmers are reluctant sellers of last year's crop, lifting cash and futures prices, a trader said. Statistics Canada will estimate Canadian farmers' planting intentions on Friday. Trade expects farmers to plant 21.3 million acres of canola, up 5 percent from last year. May canola gained $3.10 to $519.60 per tonne. Most active July canola added $3.60 to…
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Canada’s resilient dairy sector girds for Trump fight

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By Rod Nickel and Benjamin Weir WINNIPEG/SYDNEY, April 19 (Reuters) - For decades, Canada's protected dairy sector has riled rival exporters from Asia to Europe who resent having limited access to a wealthy consuming nation. But that could change now U.S. President Donald Trump has taken up the cause, trade experts said on Wednesday. Despite an earlier challenge before the World Trade Organization and concerns by domestic producers that it may be threatened by sweeping trade deals with three continents, Canada's supply management system, as the policy around dairy imports and production is known, has proven all but impossible to vanquish. Trump took aim on Tuesday during a visit to…
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CME live cattle futures up 9th straight session

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CHICAGO, April 19 (Reuters) - Chicago Mercantile Exchange live cattle futures rose on Wednesday for the ninth consecutive session, and hit a one-year high for a second day in a row, after cash prices exceeded expectations, traders said. April live cattle  closed 1.150 cents per pound higher at 127.925 cents, and June  up 0.300 cent at 115.950 cents. On Wednesday packers in the U.S. Plains paid $130 to $133 per cwt for market-ready, or cash, cattle that last week brought mostly $128, said feedlot sources. Cattle at Wednesday morning's Fed Cattle Exchange, on average, fetched $128.62 per cwt up from last week's lightly  traded $126 average. "The retailer is buying…
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Weak loonie, slow seeding lift canola futures

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Canola rose again on Wednesday and this time new crop contracts also gained ground. Old crop has been rising on expectations of tight year end stocks. Today there was a little concern about weather-delayed spring field work. Cloudy weather is not helping to dry fields and some light rain is in the forecast for parts of the Prairies. Canola was also supported by rising soybeans and soy oil as well as a weaker loonie, which fell about a half cent. The Canadian market is also preparing for the Statistics Canada seeding intentions report Friday morning. CLICK HERE TO WATCH OUR WEEKLY CROP MARKET UPDATE Soybeans bounced a little higher after two days of losses. Corn was mostly…
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Trump vows to back U.S. dairy farmers in Canada trade spat

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By Rod Nickel April 18 (Reuters) - U.S. President Donald Trump promised on Tuesday to defend American dairy farmers who say they have been hurt by Canada’s protectionist trade practices, during a visit to the cheese-making state of Wisconsin. Canada's dairy sector is protected by high tariffs on imported products and controls on domestic production as a means of supporting prices that farmers receive. It is frequently criticized by other dairy-producing countries. "We’re also going to stand up for our dairy farmers," Trump said in Kenosha, Wisconsin. “Because in Canada some very unfair things have happened to our dairy farmers and others.” Trump did not go into detail…
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