WINNIPEG, (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were weaker on Thursday, as the trend of higher soyoil prices and a lower Canadian dollar were reversed. Soyoil lost about a half of a U.S. cent per pound today on the Chicago Board of Trade. The loonie was stronger at mid-afternoon Thursday at 75.30 U.S. […] Read more
Daily news
Canola stays within range; wheat weaker
Lower dollar, higher soy boost canola
WINNIPEG, (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts finished higher on Tuesday with support from Chicago soyoil and a lower Canadian dollar. The loonie was down mid-afternoon Tuesday at 75.37 U.S. cents, after closing Monday at 75.68. Soyoil on the Chicago Board of Trade gained almost a third of a cent. A Winnipeg-based trader […] Read more
Green pea bids still pointed higher in Western Canada
Winnipeg, (MarketsFarm) – Green pea prices in Western Canada continue to rise, while bids for most of the other major pulses grown in the Prairies are also trending higher. Spot green pea bids have risen by about 70 cents per bushel over the past two weeks to currently top out at C$10.50 per bushel, according […] Read more
Australia canola crop down sharply from earlier forecast
Winnipeg, (MarketsFarm) – Australia’s canola crop will be much smaller than originally thought, with further reductions possible, according to the latest estimate from the Australian Oilseeds Federation (AOF). Total canola production in the country is now forecast at 1.896 million tonnes, which compares with the projection at the beginning of the growing season in July […] Read more
Soy strength pushes canola futures up
WINNIPEG, (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts finished steady to higher on Monday, as support from Chicago soyoil edged out a stronger Canadian dollar. The Canadian dollar was slightly higher mid-afternoon Monday at 75.69 U.S. cents, after closing Friday at 75.58. Meanwhile soyoil at the Chicago Board of Trade gained approximately a fifth […] Read more
Hanging by its fingernails’: U.S. biodiesel industry struggles without subsidy
NEW YORK, (Reuters) – When John Whittington shut his Morristown, Indiana, biodiesel plant this week, he knew the move would leave all 14 of his workers there looking for jobs heading into the U.S. holiday season. But he felt he had no choice. A $1-per-gallon subsidy that had been propping up the industry since 2005 […] Read more
Canola steady; wheat down slightly
Winnipeg, (MarketsFarm) – ICE Futures canola contracts settled near unchanged on Thursday, lacking any clear direction throughout the session. Gains in Chicago Board of Trade soyoil and a slowdown in farmer selling pressure provided some underlying support. Idea that canola was looking cheap compared to other oilseeds also underpinned the market, according to participants. While […] Read more
Manitoba harvest inches forward, likely finished for 2019
WINNIPEG (MarketsFarm) – With a gain of two percentage points, the overall Manitoba harvest reached 91 percent complete, according to the province’s latest crop report. In Manitoba Agriculture’s crop report summary for 2019, issued Nov. 12, the canola harvest rose from 91 to 94 percent finished. The spring wheat inched from 97 to 98 percent […] Read more
Canola futures trade in narrow range; wheat down
Winnipeg, (MarketsFarm) – ICE Futures canola contracts were slightly lower at Wednesday’s close, after trading within a narrow range throughout the session. Losses in Chicago Board of Trade soyoil accounted for much of the spillover selling pressure in canola, according to traders. Ample supplies in the commercial pipeline and a lack of significant end user […] Read more
2019 corn harvest a tremendous struggle in three U.S. states
WINNIPEG (MarketsFarm) – With a significant amount of corn still in the fields of the United States Northern Plains, the harvest may be grounding to a halt, according to MarketsFarm analyst Bruce Burnett. In particular, Burnett noted the corn harvest has been further slowed by a propane shortage, which has caused issues for farmers trying […] Read more
