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Tag Archives canola

Photo: File
Crops, Markets

Australian crops improve, but well off recent records

Winter crop harvest reportedly progressing quicker, earlier than recent years

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Australia’s winter crop production likely beat earlier expectations but will still be down considerably compared to the record-large production in recent years, according to the latest crop report from the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES). 
(Screengrab from Merit Functional Foods video via YouTube)
Canola, Crops, Markets, Peas

Merit Foods pays off operating lender, no deal yet for plant

Plant-based protein processor in receivership since March

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A Winnipeg pea and canola protein processor in receivership since this spring remains mothballed for now with no firm buyer — but has paid off one of its three secured creditors. Merit Functional Foods, which entered receivership March 1 after just two years’ operation, has sold all its remaining finished and raw inventory and directed […] Read more
(Dave Bedard photo)
Crops, Markets

Higher canola, wheat production expected in StatCan report

Traders raise concerns about report accuracy

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MarketsFarm — There was a consensus among several traders and analysts that Statistics Canada will very likely raise its estimates on canola and wheat production for 2023-24. Yields on the Prairies were better than expected following a difficult first half of the growing period, as the weather improved during the second half. StatCan is set […] Read more
(Dave Bedard photo)
Canola, Crops, Markets

ICE weekly outlook: Canola prices could rebound

'There's nothing all that exciting to look at'

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MarketsFarm — Winnipeg-based trader Ken Ball from PI Financial is cautiously optimistic that canola prices can rebound in the short term. The January canola contract closed at $702.30 per tonne on Wednesday a weekly loss of $7.40. The contract fell below the $700 level on U.S. Thanksgiving on Nov. 23, a day with little volume. […] Read more
(File photo by Dave Bedard)
Canola, Crops, Markets

Speculators buy back bearish canola bets in latest report

Funds reduce net long in soybeans

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MarketsFarm — Fund traders were actively covering bearish bets in canola during the week ended Nov. 21, buying back some previously placed short positions, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). The report was delayed due to the U.S. Thanksgiving holiday. As of Nov. 21, 2023, […] Read more
ICE January 2024 canola with 20- and 200-day moving averages and nine-day exponential moving average. (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Purely technical canola market trending up

Activity expected thin until next week

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MarketsFarm — The ICE Futures canola market moved within a wide range during the week ended Wednesday, hitting some of its best levels in a month before running into resistance at the highs. With traders in the United States moving to the sidelines for the U.S. Thanksgiving holiday, activity should be thin and choppy until […] Read more
Crops, Markets

AAFC tweaks crop supply/demand estimates in November report

Estimates hold for most exports

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MarketsFarm — Agriculture and Agri-Food Canada has slightly adjusted its supply/demand estimates for November. AAFC published its latest Outlook for Principal Field Crops on Tuesday. Of Canada’s major crops, the department left the 2023-24 ending stocks for canola at one million tonnes and all wheat at 3.6 million, while all other reported crops were left […] Read more
(Dave Bedard photo)
Canola, Crops, Markets

Large speculative short position in canola dips slightly

Net long in CBOT soybeans increases

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MarketsFarm — The large managed money short position in canola futures dipped slightly during the week ended Nov. 14, as speculators bought back some of their bearish bets, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As of Nov. 14, the net managed money short position in […] Read more
Canadian Agriculture and Agrifood Minister, Lawrence McCauley (right) and CCC vice president, crop production and innovation, Curtis Rempel at the funding announcement at the Bruce D. Campbell Farm and Food Discovery Centre at Glenlea, Man. Photo: Don Norman
Canola, Crops

Canola sector gets research boost

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The federal government is putting up $9 million to drive the sustainable growth of Canada’s canola sector. The funding comes from the AgriScience Program—Clusters Component, an initiative under the Sustainable Canadian Agricultural Partnership and was announced today (Nov. 14) in Winnipeg by Lawrence MacAulay, the federal agriculture minister. “This new Canola Cluster will build on […] Read more

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