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Tag Archives canola

ICE July 2023 canola with 20-day moving average (yellow line, right scale) and CBOT July 2023 soybean oil (dark green line, left scale). (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Canola market rising into summer

New StatCan acreage estimates out next week

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MarketsFarm — ICE Futures canola contracts have climbed steadily higher since their late-May lows, nearing chart resistance to the upside on the first day of summer. Updated renewable fuel targets released by the U.S. Environmental Protection Agency failed to live up to expectations, sparking a speculative selloff in soyoil. While the limit-down move in soyoil […] Read more
(Dave Bedard photo)
Canola, Crops, Markets

ICE canola futures see record daily trade volume

Previous record trading day was in 2014

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MarketsFarm — The ICE Futures canola market on Friday saw its busiest day ever, with over 90,000 contracts traded during the session, according to preliminary data. Intermonth spreading accounted for roughly half of the trade volumes on Friday as investors were busy rolling out of the front month. Daily trade volumes in canola are typically […] Read more
ICE July 2023 canola with 20- and 50-day moving averages. (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Canola will follow soyoil up or down

Prairie weather another guiding factor

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MarketsFarm — Although canola prices have been somewhat erratic over the last weeks, they along with other oilseeds have generally rebounded, according to trader Ken Ball of PI Financial in Winnipeg. Ball commented there has been a good amount of short-covering in soyoil at the Chicago Board of Trade, as markets positioned themselves for an […] Read more
Viterra’s oilseed crush plant at Becancour, Que. (Viterra.com)
Crops, Machinery, Markets, Reuters

Bunge deal for Viterra to boost oilseed dominance, renewable diesel potential

Canada's Competition Bureau pledges to review deal

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Chicago | Reuters — Bunge’s planned acquisition of Viterra would make the world’s biggest oilseed crusher even more dominant and secure a larger role in the expanding renewable diesel industry, although it may face competition hurdles. Under the deal to create an agricultural giant worth about $34 billion including debt, Bunge’s crushing capacity will increase […] Read more
A sprouted wheat kernel, in which the sprout is visibly still within the contour of the germ, is classified as “regular sprouted.” (GrainsCanada.gc.ca)
Crops

Grain grading guide to tighten definition of ‘severely’ sprouted wheat

More changes, clarifications on deck for Aug. 1

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A laboratory review of the end-use quality of sprouted wheat will lead to changes in how wheat is graded starting Aug. 1 this year. The Canadian Grain Commission on Tuesday announced changes in store effective Aug. 1 for how Canadian wheat is graded, along with a list of clarifications and new housekeeping rules for the […] Read more
(File photo by Dave Bedard)
Canola, Crops, Markets

Fund short position grows in canola

Traders net long in soy, K.C. wheat

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MarketsFarm — The speculative short position in canola grew to is largest level in nearly three months in early June, as investors covered longs and put on more bearish bets, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As of Tuesday (June 6), the net managed money […] Read more
(Qingwa/iStock/Getty Images)
Crops, Markets

USDA’s June WASDE report brings few notable changes

Canadian wheat harvest expectation unchanged

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MarketsFarm — Very few major changes were made in the latest edition of the world agriculture supply and demand estimates (WASDE) published Friday by the U.S. Department of Agriculture. For the 2023-24 crop year, USDA pegged total domestic wheat production at 1.665 billion bushels, slightly higher than the 1.659 billion in the department’s May estimates. […] Read more
(Dave Bedard photo)
Crops, Markets

Fund traders add to bearish bets in canola

Funds also net short in MGEX and CBOT wheat, corn

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MarketsFarm — Speculative fund traders added to their net short position in canola during the week ended May 30, putting on more bearish bets while also liquidating some previous longs, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As of May 30, the net managed money short […] Read more

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