Heat in the U.S. and Europe cause buyers and traders to take another look at their positions on ag commodities for the end of the week.  |  Michael Raine photo

Heat, shorts and covering raises crops

Canola rose on American soybean trades as the market in Chicago appeared to be busy covering short positions on the big oilseed. Combined with hot and dry weather in the region and the coming forecasts for the Midwest soybeans were up 20.25 US cents per bushel for August, September and November contracts. Soybeans finished the […] Read more

USDA WASDE report put flagging wheat and corn crops and uncertain summer whether ahead of other information, raising buyers' concerns, increasing prices overall.  |  Michael Raine photo

Grain commodities up after WASDE

Prices were up across the board today, as the latest USDA estimates showed smaller wheat crops in Europe, projected smaller corn and bean crops in the United States and relatively flat production globally for soybeans and corn. Elevator prices for canola in northwestern Saskatchewan rose slightly, to reach $420.78 per tonne, about $9.54 per bushel, […] Read more

Canola prices on nearby markets improved today, however overall supply and demand remains unpredictable due to Sino-Canadian relations. Soybeans were up on American markets.  |  Michael Raine photo

Canola gains, others wait on WASDE

July canola finished up $7.90 per tonne, while the rest of the contracts fell on the day, down between $3.30 in nearer months and $2.30 in later ones. July settled at $448.90, playing catch up from a soft day on Tuesday for July and stronger ones for the remainder of the contracts. On American markets […] Read more

Canola drops along with grain markets

Grain markets were lower today, with canola finishing $2.40 per tonne down on the March ICE contract, closing at $473.40. The rest of the 2019 canola contracts were off between $2 and $2.80 with January 2020 down 70 cents, hanging in a $498.30. It was canola chasing soy down, as the markets looked for positive […] Read more

Softer beans and canola on lower trades

Remaining tucked tightly in its range-bound reality, canola futures retracted slightly today, keeping pace with soybeans, falling $3.60 on the ICE March contract, getting below $480 per tonne, to $479.70. Weak Prairie’s farmer-deliveries were in part to blame for lower canola prices. However some grain analysts are suggesting that the European Union might be starting […] Read more

Canola makes gains, despite CDN dollar

Canola remains under pressure, despite support from a slightly more optimistic soybean market in the United States. On Chicago beans were up 2.75 cents, getting to more than US$9.24 per bushel. Canola for January was up C$3 per tonne, to $481.40 on ICE as the day wound to a trading close. A Canadian dollar that […] Read more

Canola down on an up-markets day

The Canadian dollar continued higher today, further softening canola trades, with that crop being down between $3.70 and $3.30 per tonne on the day. It finished for January at $478.40 today on ICE. Elevator prices for cash canola ranged from $458 to $462. Wheat fared better, up slightly for hard red spring, finding prices of […] Read more

Markets start 2019 higher

Soy prices spent most of the first trading day for 2019 much stronger, until it seemed the market realized that there were no USDA reports to back anything up, and then it seemed to struggle to put a pin in the day. The American shutdown of government has shuttered most of the USDA services that […] Read more

Global oilseeds, China, dollar tug at canola

Canola was softer today, after losses yesterday that mirrored soybeans and made the two crops some of the most active on the commodity markets. Today, however, the American holiday might have held it up, as that side of the oilseed trade moved into a long-weekend mode where if nobody moves, nobody gets hurt. Asian palm […] Read more

Canola softer, wheat stronger ahead of WASDE

The trade optimism that carried beans higher turned and shoveled them into the pit today, where they traded away. And with them, canola was sure to follow. The optimism did find a new home on equities, sending the Dow 213 points higher. November soybean futures on Chicago fell 2.5 US cents to US$8.73 per bushel. […] Read more