The ICE Futures canola market was trading to both sides of unchanged at midday Friday, with the bias to the upside in the most active months as the market saw some consolidation ahead the U.S. Department of Agriculture's monthly supply/ demand report set for release at 12:00 ET. Ideas that Thursday's selloff was overdone contributed to the firmer tone in the front months, according to participants.
Intercontinental Exchange canola futures saw gains in the front months on Friday morning, with declines in the deferred positions. While there was support from small gains in Chicago soybeans and soymeal, there were slight losses in soyoil. Canola was also getting spillover from higher European rapeseed, but declines in Malaysian palm oil weighed on values.
U.S. wheat futures edged lower on Friday to hit a six-week low as expectations of ample global supplies pushed the grain towards a weekly loss of nearly 5%. FUNDAMENTALS. * The most active wheat futures on the Chicago Board Of Trade were down 0.1% at $6.91-1/2 a bushel by 0143 GMT, near a session low of $6.90-3/4 a bushel - the weakest since July 29.
Louisiana Gulf Coast grain exports are slowly ramping up after a nearly two-week halt due to damage from Hurricane Ida, with at least two large exporters loading vessels and power steadily being restored to other terminals, government and shipping sources said on Thursday.
Global grains trader Archer-Daniels-Midland Co (ADM) expects to resume export loadings at its Louisiana Gulf Coast terminals in Ama and Reserve by the end of the month, while repairs at its Destrehan terminal following Hurricane Ida will take "a few weeks longer," the company said on Thursday.
-Louisiana Gulf Coast grain exports are slowly ramping up after a nearly two-week halt due to damage from Hurricane Ida, with at least two large exporters loading vessels and power steadily being restored to other terminals, government and shipping sources said on Thursday.
Argentina's main farm associations said on Thursday that they plan collective action to protest against the extension of government limits on beef exports, although the timeframe and scope of the actions were still under discussion.
Louisiana Gulf Coast grain exports are slowly ramping up after a nearly two-week halt due to damage from Hurricane Ida, with at least two large terminals loading vessels and power steadily being restored to others, government and shipping sources said on Thursday.
WINNIPEG, Manitoba-- The ICE Futures canola market dropped sharply lower on Thursday, with long liquidation a feature as the market tested nearby chart support. Losses in the Chicago Board of Trade soy complex and a firmer tone in the Canadian dollar contributed to the declinesin canola. The larger-than-expected ending stocks reported by Statistics Canada on Wednesday remained a bearish influence in the background, although the poor new crop production prospects remained...
WINNIPEG, Manitoba--The ICE Futures canola market was down sharply at midday Thursday, with speculative long- liquidation and a lack of willing buyers on the other side behind some of the weakness. With Canadian canola production expected to be down sharply on the year, end users are already showing signs of rationing demand, according to participants. Losses in the Chicago Board of Trade soy complex and a firmer tone in the Canadian dollar contributed to the weakness in canola.
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