Farms.com Home   News

Canola Falls Back

Profit taking and liquidation of the soon-to-expire January contract sent canola futures lower on Wednesday.
 
With the holidays fast approaching, traders decided to take some money off the table with the market rallying its highest since 2013. Markets will close early at noon Central Time on Thursday for Christmas Eve and will reopen again on Dec. 29. Strength in the Canadian dollar added to the pressure on canola.
 
A trader noted that the cash market remains strong with canola at C$14/bu at several locations across the Prairies.
 
Statistics Canada today reported the November canola crush at 917,992 tonnes, down from 931,060 tonnes in October. The federal agency also reported total grain deliveries in November of nearly 5.19 million tonnes, of which about 1.87 million tonnes was canola.
 
January tumbled $14.80 to $623.90, March was down $7.30 at $620.80 and May lost $2.40 to $610.10.
Click here to see more...

Trending Video

How to Innovate with Intercropping

Video: How to Innovate with Intercropping

Brett and Dan discuss intercropping, including flax and chickpeas, flax and peas, and malt barely and peas. Hear their insights and experiences in intercropping, some practical tips, and why they were happy with the results.