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Canola

ICE May 2023 canola with 20-, 50- and 100-day moving averages. (Barchart)
Canola, Crops, Markets

ICE weekly outlook: No floor in sight for overdone canola

'A lot of money playing around in canola right now'

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MarketsFarm — The ICE Futures canola market was in freefall mode through the first half of March, hitting its weakest levels in over a year. While the losses may be looking overdone, the bottom remains to be seen. “This has been a brutal drop in canola,” said Bruce Burnett, director of markets and weather with […] Read more
(Richardson International video screengrab via YouTube)
Canola, Crops, Markets, Soybeans

Canola crush of 2022 smallest in five years

Meanwhile, soybean crush rose on the year

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MarketsFarm — Statistics Canada (StatCan) reported that 2022 had the smallest domestic canola crush for a calendar year since 2017. As well, 2022 marked the smallest canola oil production in five years and the least amount of canola meal produced in four years. The sharp reduction of canola being crushed was due to the 2021 […] Read more
(File photo by Dave Bedard)
Canola, Crops, Markets

Confirmation of large canola short position slowly appears

CFTC data flow slowly resuming

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MarketsFarm — The size of the fund short position in canola rose in February and likely grew even larger in March, as weekly Commitments of Traders data slowly trickles out from the U.S. Commodity Futures Trading Commission (CFTC). CFTC data has stalled since a ‘cyber-related incident’ delayed the release of the data for weeks. As […] Read more
ICE May 2023 canola with 20-day moving average, RSI and CFTC Commitments of Traders data. (Barchart)
Canola, Crops, Markets

Reading between the lines: Oversold canola due for correction

Technical signs point to possible recovery

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MarketsFarm — Canola futures posted sharp losses over the past week, with the May contract touching its weakest level in six months. While damage was done from a chart standpoint, there are technical signs that a recovery is possible. RSI The relative strength index (RSI) is a technical indicator that provides insight into whether a […] Read more
Canola industry ready to move forward
Canola, General

Canola industry ready to move forward

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The Canola Council of Canada celebrated a return to normalcy at its annual meeting at the Canadian Crops Convention in Ottawa. “Our theme this year is ‘from adversity to opportunity’ and I think that’s very fitting,” said Jim Everson, the group’s president. Production has rebounded following the drought of 2021, meaning there’s opportunity to develop […] Read more
A grasshopper in a canola field near Starbuck, Man. in the summer of 2019. (MarketsFarm photo by Glen Hallick)
Crops

Adama’s lambda-cy products to be available this year

Company to continue selling Silencer, Zivata after recall

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The Canadian arm of ag chem firm Adama says it’s relabelled its inventories of lambda-cyhalothrin insecticide products Silencer and Zivata and will have them available for sale to farmers in 2023. The company had said last November it wasn’t yet sure those products would be available this year under an approaching deadline following a 2021 […] Read more
The USDA building in Washington, D.C. (Art Wager/iStock/Getty Images)
Canola, Crops, Markets

USDA sees increased EU canola imports, no extra from Canada

U.S. also projects higher Canadian ending stocks

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MarketsFarm — The European Union will likely import more canola (rapeseed) this year than earlier thought, but any increased movement should come from Australia or Ukraine rather than Canada, according to updated projections from the U.S. Department of Agriculture. USDA raised its forecast for European rapeseed imports during the 2022-23 marketing year by 550,000 tonnes, […] Read more
ICE May 2023 canola with Bollinger bands (20,2). (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Upswings likely out of question for canola

Canada's exports expected to ebb

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MarketsFarm — Don’t expect any large increases in canola prices any time soon, according to Ken Ball of PI Financial in Winnipeg. In fact, there’s a good chance seen that old-crop canola could fall below its support level of $800 per tonne. Ball said 2022-23 canola ending stocks in Canada could increase because of the […] Read more
(Screengrab from Merit Functional Foods video via YouTube)
Canola, Crops, Peas

Merit Foods stakeholder looking to buy company

Burcon 'actively engaged' with company's receiver

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One of the joint-venture owners of Winnipeg pea and canola protein processor Merit Functional Foods says it’s in talks to buy full control of the cash-strapped company. Two days after Merit entered a court-ordered receivership, Vancouver-based Burcon NutraScience announced Friday it “intends to submit a formal proposal to acquire the business.” Burcon said Merit’s receivership […] Read more
(Screengrab from Merit Functional Foods video via YouTube)
Canola, Crops, Peas

Plant protein processor Merit Foods in receivership

Company owes $95 million to EDC, FCC

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The company behind a new Prairie processing plant extracting plant-based proteins from peas and canola has landed in receivership, in the high eight figures’ debt to its secured lenders. PricewaterhouseCoopers (PwC) on Wednesday announced it’s the receiver for both Merit Functional Foods Corp. and the numbered company that owns Merit’s processing plant and property in […] Read more

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