Winnipeg, (MarketsFarm) – The ICE Futures canola market was weaker on Tuesday, as chart-based selling and spillover from the losses in Chicago Board of Trade soybeans weighed on values. Soybeans were down on Monday, when the canola market was closed for Canada Day, and remained pointed lower today. Speculators adding to their net short positions […] Read more
Phil Franz-Warkentin
Stories by Phil Franz-Warkentin
Soybeans bring strength to canola futures
Winnipeg – The ICE Futures canola market was stronger on Friday, as a rally in Chicago Board of Trade soybeans provided support. Updated acreage estimates from the United States Department of Agriculture came in well below expectations for soybeans, pegging this year’s U.S. crop at only 80 million acres. The resulting strength in soybeans pulled […] Read more
ICE Canola Weekly: China worries keep market trending down
Winnipeg – Canola futures on the ICE Futures U.S. platform dropped sharply during the week ended March 6, hitting their lowest levels in two-and-a-half years. Concerns over declining Chinese demand sparked the latest selloff in canola amid news that the major canola buying country had blocked shipments from Canada’s Richardson International. Canadian canola exporters have […] Read more
Canola futures lowest in a month
Winnipeg, (MarketsFarm) – The ICE Futures canola market moved lower on Wednesday, hitting their lowest levels in over a month as bearish technical signals and heightened concerns over Chinese trade weighed on values. China has now banned all imports of Canadian pork and beef, as the diplomatic dispute between the two countries shows no signs […] Read more
Less canola and durum, more barley and oats in Canada
Winnipeg – Canadian farmers seeded fewer canola and durum acres than they originally intended, but more barley and oats, according to updated acreage estimates from Statistics Canada that largely came within expectations. The planted Canadian canola area for 2019/20 (Aug/July) was pegged at 20.952 million acres by the government agency, which was down by about […] Read more
Canola futures drop sharply
Winnipeg (MarketsFarm) – The ICE Futures canola market was down sharply on Tuesday, breaking below nearby chart support as speculators turned to the sell side. Recent rainfall across Western Canada accounted for some of the selling pressure, as dryness concerns have alleviated somewhat. Losses in Chicago Board of Trade soybeans and soyoil also weighed on […] Read more
Canola futures weaker after rains
Winnipeg, (MarketsFarm) – The ICE Futures canola market was weaker on Monday, as rains across the Prairies over the weekend had speculators taking some of the weather premium out of the market. Large old crop supplies and the ongoing trade dispute with China also continued to weigh on values, according to participants. Positioning ahead of […] Read more
Weekly Manitoba cattle report
Winnipeg – Rain showers across much of the province during the week ended June 21 helped take some of the edge off the cattle markets, as concerns over dry pastures dissipated slightly. With the rain in Southern Manitoba, “our numbers were probably down by 30 to 40 percent from the previous week,” said Robin Hill, […] Read more
Bullish Midwest weather story not over for corn and soybeans
Winnipeg, June 19 (MarketsFarm) – Corn and soybean futures at the Chicago Board of Trade may have run into some profit-taking resistance, but underlying concerns over wet fields and lost acres should keep the general uptrend in place heading through the summer. “I don’t think this weather story is anywhere near over,” said Preston Zacharias, […] Read more
Canola futures up in heavy trade, but confusion rules
WINNIPEG – Intercontinental Exchange (ICE) Futures canola contracts were stronger on Monday, in a heavy volume of trade. “Big volumes, big spread. The market doesn’t know which way to go,” commented a Winnipeg-based analyst. The lack of significant rainfall on the Prairies wasn’t enough to help crops. Meanwhile in the United States, there was a […] Read more
