Winnipeg,(MarketsFarm)– A sharp drop in the Canadian dollar helped lessen the blow of the COVID-19 pandemic on the ICE canola market, with volatility and uncertainty expected to be the feature in the upcoming weeks. Any strength in canola “is 100 per cent the Canadian dollar and nothing else,” said Ken Ball, of PI Financial in […] Read more
Phil Franz-Warkentin
Stories by Phil Franz-Warkentin
Canola futures see corrective bounce
WINNIPEG, (MarketsFarm) – The ICE Futures canola market settled in the green for St. Patrick’s Day, seeing a corrective bounce after Monday’s fall to contract lows. Gains in Chicago Board of Trade soyoil and weakness in the Canadian dollar contributed to the advances in canola. The currency was down nearly a full cent relative to […] Read more
Seasonal restrictions underpin feed grains, virus being watched
Winnipeg, (MarketsFarm) – Seasonal weight restrictions and spring road bans are providing some underlying support for feed grain bids in Western Canada, with the COVID-19 coronavirus outbreak also being followed closely. “Winter weights are coming off, which is restricting the areas (feedlots) can pull from,” said Allen Pirness, of MarketPlace Commodities in Lethbridge, Alta, adding […] Read more
Solid bids underpin Manitoba edible bean area, soy acres to fall
Winnipeg, (MarketsFarm) – Solid prices should keep Manitoba farmers growing edible beans in 2020, although soybean area will likely drop, according to a provincial specialist. Disappointing harvest weather in 2019 hurt yields and cut into harvested area for edible beans in both Manitoba and across the border in the United States. As a result, prices […] Read more
Canola still following soyoils lower
WINNIPEG, (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were lower on Friday, due to sharp declines in Chicago soyoil. A trader explained that soyoil is vulnerable to changes in the stock markets and in crude oil prices. Pushed by fears over the coronavirus, the North American stocks were down 2.6 to 3.7 per cent […] Read more
Western Canadian hard spring wheat bids firm in early March
Winnipeg,(MarketsFarm) – Hard red spring wheat bids in Western Canada moved higher during the week ended March 5, as Minneapolis futures attempted to stabilize above nearby lows and the Canadian dollar softened. Average Canada Western Red Spring (13.5 percent) wheat prices were up by C$1.50 to C$5.50 per tonne, according to price quotes from a […] Read more
Soyoils put downward pressure on canola
WINNIPEG, (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were lower on Thursday, after three days of gains as Chicago soyoil and European rapeseed weighed on values. Malaysian palm oil was higher today and provided support, as did a lower Canadian dollar. By mid-afternoon Thursday, the loonie slipped to 74.46 U.S. cents from Wednesday’s close […] Read more
Agri-chemical industry watching COVID-19
Winnipeg, (MarketsFarm) – China is a major producer of agricultural chemicals. Disruptions to production would have a ripple effect on North American supplies of crop protection inputs, such as herbicides and insecticides. Plant closures and transportation issues due to the COVID-19 coronavirus are being followed closely, but the Canadian industry is reportedly well supplied heading […] Read more
Canola futures gain following soyoil
WINNIPEG, (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were steady to higher on Wednesday, due to gains in Chicago soyoil and Malaysian palm oil. However, lower European rapeseed weighed on values. Despite the Bank of Canada cutting its key interest rate by a half-point today, an analyst said the cut itself wouldn’t have a […] Read more
Canola futures still making gains
WINNIPEG, March 3 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts higher Tuesday, building on gains made Monday, albeit at a slower pace. Chicago soyoil and European rapeseed were higher today, while Malaysian palm oil was flat. The gains in the North American commodities came as the United States Federal Reserve made a rare emergency […] Read more
