Winnipeg – ICE Futures canola contracts were weaker on Thursday, after trading to both sides of unchanged in choppy activity. Canola posted gains in early activity, but that early speculative buying interest ran into chart resistance when the March contract touched the 50-day moving average, according to a trader. Continued strength in the Canadian dollar, […] Read more
Phil Franz-Warkentin
Stories by Phil Franz-Warkentin
Diplomatic uncertainty still weighs on canola markets
Exporters are wary about future business, considering the ongoing diplomatic dispute between Canada and China
ICE Futures canola contracts trended higher over the course of the week ended Jan. 25 as the market saw a chart-based recovery off of the yearly lows hit the previous week. However, canola remains range-bound and sluggish overall, largely taking its influence from activity in the outside commodity and financial markets. Trade uncertainty kept a […] Read moreCanola softens ahead of U.S. China talks
Winnipeg – ICE Futures canola contracts were weaker on Wednesday, although activity was choppy as traders await fresh trade news. “Everyone is marking time,” said a trader, noting that participants were keeping a close eye on trade negotiations between the United States and China this week. Strength in the Canadian dollar accounted for some of […] Read more
Canadian chickpea area to drop back to ‘normal’, prices may firm
Winnipeg – Canadian chickpea acres will return to more normal levels in 2019, after a sizeable jump in 2018. However, while prices are off the highs that drove 2018 seeding intentions, they still could have some room to the upside over the next few months. After seeding 442,900 acres of chickpeas in 2018, Canadian farmers […] Read more
Canola weaker; wheat lower
Winnipeg – ICE Futures canola contracts were weaker on Tuesday, although activity was thin and choppy as participants await some fresh direction. Losses in Chicago soybeans and soyoil accounted for some of the spillover selling pressure in canola, with bearish technical signals and poor export demand adding to the softer tone. The Canadian dollar held […] Read more
Ag Canada predicts rising grain and canola acres in 2019/20
Winnipeg – Canadian farmers will seed more wheat, barley and canola in 2019/20, according to the first supply/demand tables from Agriculture and Agri-Food Canada for the upcoming crop year, released Jan. 25, 2019. The government agency forecasts all-wheat acres rising to 25.056 million, from 24.891 million the previous year. Of that total, durum seedings are […] Read more
Canadian wheat exports running at strong pace
Winnipeg – Canadian wheat exports during the 2018/19 (Aug/Jul) crop-year-to-date are running at a record pace, with exports as of Jan. 20 roughly 1.4 million tonnes ahead of what was exported during the same timeframe the previous crop year. Canada has exported 8.87 million tonnes of wheat as of Jan. 20, according to the latest […] Read more
Confluence of market forces leave canola mixed
Winnipeg, – ICE Futures canola contracts were mixed on Friday, with gains in the front months and losses in the new crop positions as the market reacted to activity in the outside currency and vegetable oil markets. Sharp gains in Chicago Board of Trade soyoil futures provided underlying support, while technical signals were also pointed […] Read more
Little excitement in mustard market, as world competition grows
Winnipeg – The bounce-back in Canadian mustard production in 2018 is unlikely to see any follow-through in 2019 as spot prices aren’t generating much excitement for producers despite tightening supplies. Yellow mustard is currently topping out at around 36 cents per pound, while brown mustard bids are in the 30 to 31 cent range, according […] Read more
Canola up for third straight day; wheat mixed
Winnipeg – ICE Futures canola contracts were higher for the third straight session, as supportive nearby technical signals brought in speculative buying interest. Recent weakness in the Canadian dollar was also supportive, while improving basis levels in the countryside were said to be a sign of solid end user demand. However, concerns over a possible […] Read more
