ICE Futures canola contracts were mixed on Wednesday, with losses in the front months and a firmer tone in the more deferred positions. Bearish technical signals and speculators adding to short positions accounted for much of the weakness in the most active nearby contracts, with prices hitting fresh contract lows for the third straight session. […] Read more
Daily news
Canola, wheat finished mixed
Russia has 4-5 million tonnes of old-crop wheat to export – trader
SINGAPORE, (Reuters) – Russia, the world’s biggest wheat exporter, still has a surplus of 4 million to 5 million tonnes of old-crop of the grain for exports, a leading exporter of Black Sea grain cargoes said on Wednesday. The market has been expecting the Black Sea Region suppliers, mainly Russia and Ukraine, to run out […] Read more
Indonesian wheat imports to be hit by faltering demand from feed makers – miller
SINGAPORE, Reuters – Wheat imports by Indonesia, the world’s No.2 buyer of the grain, are likely to be pressured in 2019 by reduced appetite for the commodity from animal feed makers, a top official at the country’s biggest milling company said on Wednesday. Indonesia has emerged as the world’s second-largest wheat importer in recent years […] Read more
Canola continues to drop
Winnipeg – ICE Futures canola contracts were weaker on Tuesday, continuing their downward slide to fresh lows. Losses in the Chicago Board of Trade soy complex, large Canadian canola supplies and bearish technical signals all weighed on values, according to participants. Speculators were noted sellers, adding to their growing net short positions as the trend lines […] Read more
Court hears appeal of Input Capital case
The Saskatchewan Court of Appeal heard evidence Feb. 25 in Input Capital’s appeal of a lower court finding that the company’s canola streaming contracts are “unconscionable.” The case been reserved. The Regina-based company appealed after Queen’s Bench justice Jeff Kalmakoff delivered a written decision last May saying the agreements between Input and Macoun, Sask., farmer […] Read more
Low ending stocks are good support for Prairie feed grains
WINNIPEG – With some of the lowest ending stocks in more than a generation, feed grain prices are doing quite well in Western Canada, said Ed Baldwin of AgChieve Grain Marketing in Winnipeg, Man. As AgChieve’s Manager of Advisory Services and Grain Marketing Advisor, Baldwin said Canada has its lowest ending stocks for feed grains […] Read more
Canola keeps dropping, soy up slightly
Winnipeg – ICE Futures canola contracts continued their downward slide on Wednesday, hitting fresh contract lows for the second-straight session. Speculators were noted sellers as bearish technical signals kept the bias pointed lower. Strength in the Canadian dollar, a lack of significant end user demand and steady farmer selling also weighed on values. However, a […] Read more
Oversold market still fundamentally bearish
Winnipeg – ICE canola futures are starting to look oversold after falling contract lows during the week ended Feb. 20. While a short-term technical correction is possible, the underlying fundamentals remain bearish. “Canola might be a little bit short-term oversold,” said Ken Ball of PI Financial in Winnipeg. He said signs that exports were perking […] Read more
Canola drops along with grain markets
Grain markets were lower today, with canola finishing $2.40 per tonne down on the March ICE contract, closing at $473.40. The rest of the 2019 canola contracts were off between $2 and $2.80 with January 2020 down 70 cents, hanging in a $498.30. It was canola chasing soy down, as the markets looked for positive […] Read more
Feed markets steady amid cold Alberta weather
Winnipeg – Excessively cold temperatures in Alberta may be causing headaches for both feed grain buyers and sellers, but prices remain relatively steady for what is moving. The cold weather hasn’t really led to a significant increase in demand, but “it’s definitely made the farmer grumpy,” said Brandon Motz, of CorNine Commodities in Lacombe, Alta. […] Read more
