Canola, soybeans end the week higher

Winnipeg – Canola contracts on the ICE Futures Canada platform finished higher on Friday, taking strength from solid gains in soybeans and soyoil. Traders were squaring positions before the weekend. Much of Western Canada is expecting hot temperatures over the weekend and early into next week, which should stress some areas of Saskatchewan and Alberta. […] Read more

Glencore takes share hit following U.S. subpoena

Glencore, the world’s largest commodity trader and owner of Canadian grain-handling company Viterra, has been subpoenaed by the United States Department of Justice on matters related to the Foreign Corrupt Practices Act and U.S. money laundering regulations. Glencore shares fell 13 per cent on July 3 following the announcement before regaining some losses. The company […] Read more

AMIS adjusts world grain production outlooks

Global supply-demand outlooks released by a market monitoring agency formed by an alliance of 11 international organizations point to lower corn production for 2018-19. The Agricultural Market Information System (AMIS) Market Monitor report for July said the record corn harvest in 2017-18 will by more than four per cent in 2018-19. That’s due mostly to […] Read more

CBOT soy market waiting on trade war

It’s currently a wait and see game for traders who trade corn and soybeans on the Chicago Board of Trade (CBOT). “It looks like we’re going to be concerned a lot about what happens with our friends from China here in the short term,” said Jack Scoville, with Price Futures Group in Chicago, Ill. on […] Read more

Canola to face pressure from U.S. soybeans flowing into Canada

WINNIPEG – As Friday’s deadline nears for Chinese tariffs to be imposed on imports of U.S. soybeans, so too does the idea that eastern crushers could soon be bringing those unwanted beans into Canada. “Soybeans have become so cheap we’re going to find them leaking across the border, especially into Ontario,” said Mike Jubinville of […] Read more

Russia finds creative ways to move wheat to export markets

Russia is turning to smaller ports and ship-to-ship transfers to help deal with its large grain harvests. The usual grain-shipping channels, which involve loading ships at Black Sea ports, especially Novorossiysk, are being used to capacity, so traders are using small ships on the Sea of Azov to keep exports flowing. The grain is loaded […] Read more

Farmers Edge, Nufarm announce strategic alliance

(CNS Canada) — Farmers Edge, a supplier of digital farming tools, and crop protection/seed company Nufarm have announced an alliance. The agreement allows Nufarm in Australia to distribute Farmers Edge digital offerings, including daily satellite imagery from its farm risk management platform FarmCommand, which is designed to provide farmers with quick analytics to help them […] Read more

Canary seed markets uncertain, defying summer trend

Winnipeg (CNS Canada) – July is usually a month where Canadian canary seed prices weaken as producers dump unsold product onto the market, but this year that might not happen as trade uncertainty around the world is affecting the markets.     “We tend to see weakness in July and then strength in the fall, but […] Read more

Strong dollar, high acreage pushes canola down

Winnipeg (CNS Canada) – ICE Futures Canada canola contracts were mostly lower on Friday, as strength in the Canadian dollar and confirmation of large planted area weighed on values. In a report out this morning, Statistics Canada pegged canola seedings at 22.7 million acres, which was well above an earlier estimate of 21.4 million but […] Read more

Canola drops as premium disappears

Winnipeg (CNS Canada) – ICE Futures Canada canola contracts were weaker on Thursday, with the largest losses in the old crop July contract as participants bailed out of the front month. July canola started the day trading at a premium of about C$11 to November, but settled at even money. With ample old crop supplies and […] Read more