Photo: Greg Berg

ICE weekly outlook: No reason for strong rally in canola 

Canola likely to pull back once trading gets back into full swing in New Year

There were strong gains for canola on the Intercontinental Exchange on Dec. 27, as trading resumed after being closed for Christmas and Boxing Day. However, the gain will likely not be the prelude to a major upswing in the oilseed’s prices. Rather, canola is likely to pull back once trading gets back into full swing after the New Year, according to analyst Bruce Burnett of MarketsFarm.




(Photo courtesy Canada Beef Inc.)

More local barley destined for rations, but U.S. corn still moving

Prior to drought year 2021/22, Canadian corn imports had rarely topped two million tonnes

Recently revised supply/demand tables from Agriculture and Agri-Food Canada raised the forecast for domestic barley usage in the current crop year to 6.155 million tonnes. That compares with an earlier forecast of 5.471 million tonnes. If realized, that would be up by roughly 200,000 tonnes from the previous year.