Glacier FarmMedia MarketsFarm – The ICE Futures canola market was lower on Friday, despite some positive sentiment in comparable oils.
European rapeseed was mostly higher, Malaysian palm oil was mixed and Chicago soyoil and crude oil saw minimal gains. Today was the last day for May trading options.
The Canadian dollar was up more than one-tenth of a U.S. cent compared to Thursday’s close.
The Canadian Grain Commission (CGC) reported 180,600 tonnes of canola were exported during the week ended April 21, up from 128,300 the week before. So far this marketing year, exports totaled 4.545 million tonnes compared to 6.582 million last year.
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Glacier FarmMedia — ICE canola futures were stronger on Friday, hitting their highest levels in two-weeks. Optimism following a recent…
There were 29,857 canola contracts traded on Friday, which compares with Thursday when 52,182 contracts changed hands. Spreading accounted for 13,746 of the contracts traded.
WHEAT at the Chicago Board of Trade on Friday rose for the seventh straight session with Kansas City hard red wheat reaching price levels unseen since December due to drought in growing areas.
The Canadian Grain Commission reported wheat exports for the week ended April 21 totaled 427,100 tonnes, compared to 514,600 tonnes the week before. So far this marketing year, 15.71 million tonnes were shipped compared to 14.747 million one year ago.
Statistics Canada reported that 2.468 million tonnes of wheat were delivered by producers in March, down from 3.431 million one year ago.
The western half of Kansas missed out on much-needed rains yesterday, where hard red wheat crops are suffering from a flash drought. Nearly 98 per cent of the entire state is under abnormal dryness.
The European Union cut its soft wheat forecast by 600,000 tonnes at 120.2 million, its lowest in four years due to a decline in planted area. However, wheat ending stocks were raised by 500,000 tonnes at 20.4 million, while exports were left unchanged at 31 million.
The French soft wheat crop is rated 63 per cent good to excellent, down one point from last week, while the country’s durum crop was down three points at 67 per cent.
Ukraine exported 15.4 million tonnes of wheat so far this marketing year.
July CORN alternated between gains and losses for the fourth consecutive session, ending Friday in the red and right at the US$4.50 per bushel mark.
A large area of rain stretched from North Dakota to Tennessee this morning with more rains in Nebraska, Colorado and Oklahoma.
On Tuesday, the Biden administration will release updated GREET models for sustainable aviation fuel, outlining how corn and other crops will fit in the new regulations.
The Buenos Aires Grain Exchange (BAGE) reported that the Argentine corn crop was 17 per cent good to excellent, down three points from last week. The country’s harvest is now 20 per cent complete.
Ukraine has exported 22.2 million tonnes of corn so far this marketing year.
South Africa’s corn crop is expected to be 13.39 million tonnes this year, down three million from last year.
July SOYBEANS saw small losses for the third straight session, while still gaining more than 11 U.S. cents/bu. during the week.
In total, 164,928 tonnes of soybeans were crushed in Canada in March, compared to 154,670 one year ago.
Soybean conditions in Argentina were steady at 30 per cent good to excellent, while 25 per cent of the crop is now harvested.
The BAGE reduced its estimate for Argentine soybean production to 51 million tonnes.
