ICE Canola Weekly: Don’t expect China to buy if Huawei exec goes free

WINNIPEG, (MarketsFarm) – Intercontinental Exchange canola traders have been keeping a close eye on the extradition hearing for Huawei executive Meng Wanzhou in Vancouver. The hearing is to determine whether Meng will be extradited to the United States, where she is facing charges related to violating U.S. sanctions against Iran. Meng was arrested by Canadian […] Read more

Canola futures following soy’s seesaw

WINNIPEG (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts finished weaker on Thursday, getting caught in declines in Chicago soyoil. However, a trader pointed out that isn’t necessarily a bad thing. Canola often lags behind changes to soyoil and in this case that’s good. The trader also noted soyoil has bounced around a great deal […] Read more

Canola futures finish slightly higher

WINNIPEG, Jan. 22 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts finished slightly higher on Wednesday, regaining some of the values lost yesterday. Support came from improved Chicago soyoil prices, as well as from stronger European rapeseed. However, lower Malaysian palm oil prices and the South American soybean harvest, which is just underway, weighed on […] Read more

Canola futures lower, follows seasonal trend

WINNIPEG (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts finished lower on Tuesday, due to significantly weaker Chicago soyoil prices. At the Chicago Board of Trade soyoil lost six-tenths of cent. Also, a trader noted that canola prices have often retreated after making gains recently. He said this occurs quite often during mid-January. The extradition […] Read more

Tighter supplies and solid demand underpin Canadian durum bids

Winnipeg, (MarketsFarm) – Tighter global supplies are keeping the Canadian durum market well supported this winter, with firmer prices likely when the Port of Thunder Bay reopens for the spring. “We’re seeing a very strong export demand for durum,” said Jerry Klassen manager of Canadian operations with Swiss-based GAP S.A. Grains and Products in Winnipeg. […] Read more

Rise in loonie curbs canola purchasing

WINNIPEG, (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts finished steady to lower Monday, spurred on by the rise in the Canadian dollar. By mid-afternoon Monday, the loonie climbed to 76.64 U.S. cents, compared to Friday’s close of 76.56. The stronger dollar made canola less attractive to importers. However, prices were slightly higher for most […] Read more

CGC revises domestic canola usage down, but still up on the year

Winnipeg,(MarketsFarm) – Domestic canola demand remained well ahead of exports in the latest Canadian Grain Commission report for the week ended Jan. 12, but revisions to data show that the crush pace is not quite as active as reported earlier in the month. The original data for the week ended Jan. 5 showed domestic disappearance […] Read more

Canola futures bounce back at week’s end

  Winnipeg, (MarketsFarm) – ICE Futures canola contracts were stronger on Friday, taking back much of the losses posted earlier in the week amid ideas those declines were overdone. A turn higher in Chicago Board of Trade soyoil and soybeans provided underlying support. A weaker tone in the Canadian dollar also underpinned the futures. However, […] Read more

Italy cracks mafia scam that defrauded EU agriculture

PALERMO, Italy (Reuters) – Italian police arrested 94 people in pre-dawn raids on Wednesday as part of an investigation into an alleged Mafia scam that defrauded European Union agriculture funds of millions of euros. Prosecutors said they believed the fraud was orchestrated by two Mafia clans in eastern Sicily who obtained at least 5.5 million […] Read more

Bargain hunting, slow sales hold canola futures steady

Winnipeg,(MarketsFarm) – ICE Futures canola contracts held steady on Thursday, seeing some consolidation after recent declines. After falling by roughly C$10 per tonne over the past week, canola was due for a correction and some bargain-hunting likely came forward to provide support. A lack of farmer selling contributed to the firmer tone in canola, as […] Read more