Short positions, good crusher demand pushes canola futures up

(Reuters) – ICE canola futures rose on Thursday as investors covered short positions following a sharp market decline on Wednesday, traders said. Good crusher demand also lent support. The January contract gained 1.2%, its biggest daily percentage gain in three months. January canola settled up $5.60 at $459.10 per tonne, while March futures ended $5.40 higher at $468.20. The […] Read more

U.S. reaches ‘deal in principle’ with China on trade: source

WASHINGTON, (Reuters) – The White House has reached a “deal in principle” with Beijing to resolve the 17-month U.S.-China trade war, according to a source briefed on the trade talks. The White House was expected to make an announcement later on Thursday, the source said. “The written agreement is still being formulated, but they have […] Read more

Canola futures end down on U.S. soy weakness, long liquidation

(Reuters) – ICE canola futures fell more than one percent on Wednesday on spillover weakness from allied U.S. soy futures along with long liquidation by speculators and lackluster export demand, traders said. A firmer Canadian dollar added to bearish sentiment, making Canadian products less competitive on the global market. January canola settled down $5.30 at $453.50 per tonne, while […] Read more

Canola futures mixed as holidays approach

WINNIPEG, Manitoba, (Reuters) – ICE canola futures finished mixed on Tuesday, with the day’s volume dominated by spread trading as investors rolled January contract positions forward ahead of an expected slowdown in trading during the upcoming year-end holidays. Rising soybean and palm oil prices provided underlying support to canola, as did solid demand from canola exporters and domestic crushers. Commercial […] Read more

Canola futures up for third straight session

WINNIPEG, Manitoba, (Reuters) – ICE canola futures rose on Monday for a third straight session, boosted by gains in soyoil and palm oil. * Canola is also helped by Friday’s Statistics Canada report that estimated a much smaller Canadian canola harvest than expected, although diminished Chinese buying amid a diplomatic dispute limits demand, a trader said. * Statistics Canada pegged the […] Read more

Poor harvest boosts canola futures

WINNIPEG, Manitoba, Dec 6 (Reuters) – ICE canola futures rose on Friday after a Canadian government report showed the harvest fell well short of expectations after a wet autumn. * Statistics Canada pegged the Canadian canola harvest at 18.6 million tonnes, 1 million tonnes short of the average trade expectation. * A weaker Canadian dollar and strong soyoil prices […] Read more

StatCan lowers production numbers of Ontario’s major crops

WINNIPEG,(MarketsFarm) – Ontario farmers saw most of their crop production reduced in Statistics Canada’s latest crop report that was released on Dec. 6. Surveys for the report were carried out from Oct. 9 to Nov. 17 and are the final production numbers for 2019. Wet conditions this spring in southern Ontario was likely to have […] Read more

With steady feed prices, ample supplies, buyers delaying purchases

WINNIPEG, (MarketsFarm) – With good supplies available, don’t expect to see much movement in prices for feed wheat and barley over the next several months, according to Nelson Neumann, senior trader at Agfinity in Stony Plain, Alta. Neumann said barley currently was around C$223 per tonne Lethbridge delivered and wheat was a little back at […] Read more

ICE canola weekly outlook: Steady market waiting on news

Winnipeg, (MarketsFarm) – ICE Futures canola contracts moved lower during the week ended Dec. 4, but remain range-bound overall awaiting some fresh market moving news. Some direction could come from the United States soybean complex, as the ongoing back-and-forth of trade talks with China could see some actual movement ahead of a Dec. 15 deadline […] Read more

Stronger dollar drops canola futures

WINNIPEG, Manitoba, (Reuters) – ICE canola futures eased on Wednesday, pressured by a stronger Canadian dollar. * The Canadian dollar strengthened to a two-week high against the greenback as investors cut bets that the Bank of Canada would ease interest rates over the coming months. * January canola eased 30 cents to $452.60 per tonne. * January-March canola spread traded 7,753 […] Read more