Warm and mostly dry conditions across Saskatchewan helped crops advance in their development during the week ended July 8, according to the latest provincial report.
Canola
Saskatchewan Crop Report: Warm conditions advancing crop development
ICE Canada Weekly: Canola likely to fall back
The Canadian oilseed began to pull back on July 8 as it became caught up in a selloff in the global oilseed market. The November contract finished at C$658.20 per tonne on July 5, gaining more than C$31 on the week. However, by the close on July 10, that contract dropped to C$617.90.
Manitoba Crop Report: Crops continue to withstand rain showers
Manitoba experienced variable amounts of precipitation during the week ended July 7 as crops continued to develop despite excess moisture in most areas.
Fund short position in canola at four-month high to start July
Fund traders continued to add to their large net short positions in canola as the calendar flipped to the final month of the 2023/24 marketing year for the crop, according to the latest Commitments of Traders report from the United States Commodity Futures Trading Commission (CFTC).
Saskatchewan’s crops remain in good shape, but are still behind
Although crop conditions in Saskatchewan were good, the province’s latest crop report said development continued to fall behind normal for this time of year. Saskatchewan Agriculture pointed to the cooler temperatures and wet conditions as why development has been slower this year.
ICE Weekly: ‘Soyoil scare’ fuels canola’s comeback
While the November contract fell below C$600 per tonne on June 26 for the first time since late February, it has since gained more than C$50 to close at C$652.70 on July 3. Earlier that day, the contract reached C$659.70, its highest level since June 7.
Manitoba crop weather/conditions varied
Mixed weather conditions across Manitoba over the Canada Day long weekend left some regions of the province dealing with excess moisture, with high winds and cool temperatures also affecting crop development, according to the latest provincial crop report.
The march of the cabbage seedpod weevil
Cooler, wetter spring could favour the pests this year
The cool, damp spring the Prairies are experiencing could lead to a bad year for cabbage seedpod weevils, which is bad news for canola growers. “They seem to like it a little bit cooler, rather than very hot, and can suffer with great heat and very dry conditions,” Saskatchewan Agriculture entomologist James Tansey says. “That […] Read more
Canadian farmers plant more canola, less wheat than early intentions
Canadian farmers planted more canola and less wheat than originally intended, according to updated acreage estimates from Statistics Canada, released June 27.
ICE Canada Weekly: Canola bouncing around in a large range
Although canola futures on the International Exchange have lost a fair bit of value over the last several weeks, there is a case to be made that the Canadian oilseed is rangebound.
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