The ICE canola market is currently at the mercy of the soybean market as it awaits this week’s G20 meeting between Chinese President Xi Jinping and United States President Donald Trump. “We’ve got the big pop in the soybeans in anticipation of some positive developments at this weekend’s G20 meetings…we are getting some lift here,” […] Read more
Daily news
Canola at mercy of U.S. soy market
Oils rebound after Monday’s drop
The ICE Futures canola platform were stronger at market close, rebounding after Monday’s losses. Chicago Board of Trade soybean, oil and meal contracts all finished the day in green too, regaining after yesterday’s sharp declines. While canola regained some of its losses, the technical bias is still pointed lower overall. Oilseed traders are still awaiting […] Read more
Plunging soy undermines canola
The ICE Futures canola platform finished the day weaker, dragged down by a plunge in the soy complex. Chicago Board of Trade soybean, oil and meal contracts dropped significantly during the day. Uncertainty over China and United States trade relations and forecasts for record Brazilian soy production dragged contracts down. Traders are awaiting the outcome […] Read more
Alberta farmers trying to wrap up ‘very unusual year’
As winter approaches there are producers in Alberta still in the field trying to wrap up the last bit of the 2018 harvest. According to the final crop report, issued by Alberta Agriculture and Forestry, about six percent of all crops were still in the field at the end of October. The weather wrought havoc […] Read more
Global oilseeds, China, dollar tug at canola
Canola was softer today, after losses yesterday that mirrored soybeans and made the two crops some of the most active on the commodity markets. Today, however, the American holiday might have held it up, as that side of the oilseed trade moved into a long-weekend mode where if nobody moves, nobody gets hurt. Asian palm […] Read more
Durum, red spring wheat heading to prairie feed market
Over the last few weeks there has been very little price fluctuation for feed grain prices according to one Alberta-based commodities trader. Jim Beusekom, president of Market Place Commodities in Lethbridge, Alta. said corn has been getting C$245 to C$250 per tonne. He said there is plenty of corn available in the United States and […] Read more
Canola corrects off lows, but more losses possible
ICE Futures canola contracts fell to their lowest levels in 15 months during the week ended Nov. 21, but found some support to the downside as traders reacted to activity in the Canadian dollar and Chicago soyoil. “Canola seems to be getting some short covering after a long break (lower),” said Ken Ball, of PI […] Read more
Canola stronger ahead of U.S. Thanksgiving
ICE Futures canola contracts were stronger on Wednesday, as spillover from a rally in Chicago Board of Trade soyoil provided support. Speculative short-covering contributed to the gains, as traders squared positions ahead of the Thanksgiving holiday in the United States. Markets in the country will be closed Thursday, while canola will trade its normal hours. […] Read more
Prairie fababean market spikes with global production issues
Fababean prices in Western Canada have seen a boost lately due to global production problems, however according to a buyer this is a temporary situation. “Over the last 45 days we’ve saw this market spike, we’ll call it a buck a bushel that we’ve seen that increase from where we would typically would expect this […] Read more
Cash Canadian oats solid, acreage increase likely in 2019
Recent volatility in the lightly traded Chicago Board of Trade oats futures has not been felt in the Canadian cash market, where values look solid heading through the winter months. March oats in Chicago hit a contract high of US$3.1750 per bushel on Nov. 19, but was back trading at around US$2.90 per tonne […] Read more
