North American Grain/Oilseed Review: Canola finishes strong to start week

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By Glen Hallick, MarketsFarm

WINNIPEG, March 18 (MarketsFarm) – ICE Futures canola contracts were stronger at the end of trading on Monday.
It’s believed short selling may be at its end and the technical bias has shifted to the upside.

Trading will be lull until spring planting, with little to push bids either way.

Ample supplies of palm and soy oils weighed on values.

Spring road restrictions began on Monday in Alberta and Saskatchewan and will start in Manitoba on Wednesday.

Canadian Financial Close: Loonie up as U.S. dollar weakens

Glacier FarmMedia | MarketsFarm – The Canadian dollar closed above the 73 United States cent mark for the first time in a…

Minister of International Trade Jim Carr and Agriculture Minister Marie-Claude Bibeau have been scheduled to appear in front of a parliamentary committee during the week of April 1. Carr and Bibeau will discuss tensions between Canada and China and how it has affected trade.

The Canadian dollar slipped below 75 U.S. cents at midafternoon Monday to 74.89 U.S. cents.

The South China Morning Post reported on Monday, that a meeting between United States President Donald Trump and Chinese President Xi Jinping will be further delayed. There are indications the two leaders will now meet sometime in June, rather than at the end of April, to sign a deal ending the U.S./China trade war.

Flooding has become an issue in Nebraska, Iowa, Missouri and Illinois. Delays to planting in the U.S. could see farmers switch from corn to soybeans.

INTL FC Stone forecast U.S. farmers will plant 87.7 million acres for 2019, a drop of 1.5 million acres from last year.
CORN futures were weaker on Monday. INTL FC Stone forecast U.S. farmers will plant 90.4 million acres of corn this year, an increase of 1.3 million acres from 2018.

WHEAT futures were mixed on Monday. Bids at Minneapolis were up, while those at Chicago and Kansas City were down.