WINNIPEG, (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts finished higher on Friday, regaining some ground after considerable losses incurred yesterday. The Canadian dollar has dipped below 72 U.S. cents, the lowest point in several years. That provided a bit of a boost to canola prices. Significant uncertainty posed by the COVID-19 coronavirus has sidelined […] Read more
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Lower dollar helps canola futures
Canola futures gains drop back in wake of uncertainty
WINNIPEG, (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts finished in the red on Wednesday, erasing modest gains made earlier in the week. Significant uncertainty posed by the COVID-19 coronavirus and its subsequent impact on global markets has sidelined many market participants. Spreading has been lighter than usual due to weaker buying activity. The Canadian […] Read more
Canola futures recover from Monday’s losses
WINNIPEG, (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts finished higher on Tuesday, recovering significant losses incurred on Monday. After oil prices plummeted by 30 percent on Monday, world leaders are planning to announce new economic growth policies. United States President Donald Trump has mentioned “major steps” to safeguard the economy, but no concrete details […] Read more
Canola down with other commodities Monday
WINNIPEG, (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts finished lower on Monday, as plummeting crude oil values brought havoc to stock and commodity markets alike. The Organization of Petroleum Exporting Countries and Russia have backed away from prior agreements to cut crude oil production, sending crude oil futures into freefall. Global stock indices were […] Read more
Canola still following soyoils lower
WINNIPEG, (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were lower on Friday, due to sharp declines in Chicago soyoil. A trader explained that soyoil is vulnerable to changes in the stock markets and in crude oil prices. Pushed by fears over the coronavirus, the North American stocks were down 2.6 to 3.7 per cent […] Read more
Soyoils put downward pressure on canola
WINNIPEG, (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were lower on Thursday, after three days of gains as Chicago soyoil and European rapeseed weighed on values. Malaysian palm oil was higher today and provided support, as did a lower Canadian dollar. By mid-afternoon Thursday, the loonie slipped to 74.46 U.S. cents from Wednesday’s close […] Read more
Weekly USDA wheat ratings improve in Kansas, Texas and Oklahoma
CHICAGO, (Reuters) – The U.S. Department of Agriculture’s (USDA) National Agricultural Statistics Service in a weekly crop report earlier this week rated 43 percent of the Kansas winter wheat crop in good to excellent condition, up from 35 percent a week earlier. Kansas is the biggest U.S. winter wheat producer. The USDA reported surplus moisture […] Read more
Hormel joins Tyson Foods, JBS in removing drug banned by China
CHICAGO, (Reuters) – Spam-maker Hormel Foods Corp is eliminating a growth drug banned by China from its hog supply, the company said recently, joining rivals that are seeking to increase meat sales to Chinese buyers grappling with a pork shortage. Hormel will not accept any hogs that have been fed or exposed to the drug […] Read more
Chinese soy crushers set to add to ballooning soyoil inventories
BEIJING/SINGAPORE, (Reuters) – Soyoil inventories in China look set to build up further from already-high levels, denting prices even more, as the world’s largest soybean crushing sector cranks back up following coronavirus-led cutbacks last month, traders and analysts said. China’s stocks of soybean oil have climbed 50 percent this year as edible oil consumption slowed […] Read more
India’s rapeseed output could rise, cut vegoil imports
JAIPUR, India, (Reuters) – Rapeseed output in India, the world’s biggest importer of vegetable oils, is likely to rise five percent this year as favourable weather boosted yields of the winter-sown oilseed, a leading trade body said on Wednesday. Production is expected to stand at 7.8 million tonnes in the crop year to June 2020, […] Read more
