WINNIPEG – ICE Futures canola contracts were stronger on Thursday, getting support from a number of factors in trading that had a good deal of volume. One of those factors was spillover from soybeans on the Chicago Board of Trade, which were up four U.S. cents on Thursday. Another was a bounce from the Statistics […] Read more
Daily news
Dollar, stronger soy and lower acreage boost canola futures
Floods stall fertilizer shipments in latest blow to U.S. farmers
NEW YORK, April 24 (Reuters) – A U.S. biofuels trade group asked a federal court on Wednesday to stop the Environmental Protection Agency from giving refiners new waivers from the country’s biofuels law until the agency reverts to the tougher criteria it used to assess applications before Donald Trump’s presidency, according to court papers. The […] Read more
Russia tightens grip over grain exports with state-led association
MOSCOW, (Reuters) – Major grain traders in Russia have agreed to create a new exporters’ association led by a state-controlled firm, increasing the government’s influence over supplies from the world’s biggest wheat exporter. Russia’s agriculture ministry has been meeting regularly with big exporters since September to monitor exports amid a lower 2018 crop. In February, […] Read more
Good weather puts Russia, Ukraine on track for large grain crop
MOSCOW/KIEV, (Reuters) – Favourable weather during spring grain sowing in Black Sea producers Russia and Ukraine is increasing the chances of another large grain harvest due to healthy levels of soil moisture, analysts and traders said. Russia, a major global wheat exporter to North Africa and the Middle East, is so far on track to […] Read more
Drop in acreage, loonie support canola
WINNIPEG – ICE Futures canola contracts were stronger on Wednesday, as bids stepped away from contract lows. Canola received support from a weaker Canadian dollar and the Principal Field Crop Acreage report released by Statistics Canada earlier today. The Canadian dollar slipped to 74.15 U.S. cents by midafternoon Wednesday. As expected, Statistics Canada has projected […] Read more
Lawsuit says Tyson, Cargill, JBS conspired to suppress beef prices paid to U.S. ranchers
April 23 (Reuters) – Four of the largest U.S. beef-packing companies were accused in a lawsuit on Tuesday of violating federal antitrust law by conspiring to drive down prices they paid ranchers for cattle, even as retail beef prices hovered near record levels. Tyson Foods Inc, Cargill Inc, the JBS USA unit of Brazil’s JBS […] Read more
Canola drops for third day; wheat stronger
WINNIPEG – ICE Futures canola contracts fell on Tuesday, hitting new contract lows for a third consecutive day amid heavy trading. Canola bids followed U.S. soybeans on a downward slide. Even a weaker loonie wasn’t able to support canola prices on Tuesday. The May and July contracts dropped C$5.30 each, with May closing at C$438.10 […] Read more
Canola futures much weaker
WINNIPEG – ICE Futures canola contracts finished much weaker on Monday hitting new contract lows, as trading resumed following the Easter long-weekend. The May contract lost C$6 to close at C$443.10 per tonne on Monday. The July contract fell C$5.80 to finish at C$451.40 per tonne. A Winnipeg-based trader said the commodity fund roll is […] Read more
Canola hits new contract lows
Winnipeg – ICE Futures canola contracts fell to fresh contract lows on Thursday, retreating from earlier gains as the ongoing trade tensions with China had speculators on the sell side ahead of the long weekend. Markets will be closed on April 19 for Good Friday. While the path of least resistance was pointed lower for […] Read more
CBOT Weekly: Bear market aching for bull news
WINNIPEG – The Chicago Board of Trade (CBOT) is currently a bear-market, according to broker Scott Capinegro of Barrington Commodity Brokers in Barrington, Ill. “It’s like the markets are saying ‘show me something, we’ll take anything,’ but the bears are winning,” said Capinegro, noting there has been almost no news to drive the market in […] Read more
