GFM Network News


North American Grain and Oilseed Review: Loonie, soyoil push canola either way

CBOT in red prior to USDA reports

By Glen Hallick, MarketsFarm WINNIPEG, Aug. 7 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts traded either side of steady on Friday. Support came from a lower Canadian dollar, but weaker Chicago soyoil weighed on values. By mid-afternoon the loonie was at 74.66 U.S. cents, compared to Thursday’s close of 75.23. Chicago soyoil was down […] Read more

ICE Canola Midday: Price slipping due to weaker soyoil

Trader notes canola lags behind changes

By Glen Hallick, MarketsFarm WINNIPEG, Aug. 7 (MarketsFarm) – ICE Futures canola contracts were slightly lower at midday Friday, as soyoil values at the Chicago Board of Trade retreated. A Winnipeg-based trader said canola doesn’t react quickly to swings in soyoil, noting that product values were currently down about $3 per tonne. “Canola seems to […] Read more


ICE canola mixed early Friday

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Aug. 7 (MarketsFarm) – The ICE Futures canola market was mixed Friday morning, with a firmer tone in the most active nearby contracts and losses in the more deferred positions. A weaker tone in the Canadian dollar, which dipped back below 75 U.S. cents, provided some underlying support for canola. […] Read more

North American Grain and Oilseed Review: Canola gains back some of Wednesday’s losses

Beans, corn steady ahead of S&D report

By Glen Hallick, MarketsFarm WINNIPEG, Aug. 6 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were steady to higher on Thursday, as technical and commercial buying provided support. There were small gains in Chicago soyoil and European rapeseed to help underpin canola as lower Malaysian palm oil weighed on values. The Saskatchewan weekly crop report […] Read more


ICE Canola Midday: Buying nudges up prices

Support also from soyoil, rapeseed

By Glen Hallick, MarketsFarm WINNIPEG, Aug. 6 (MarketsFarm) – ICE Futures canola contracts were steady to higher at midday Thursday, due to “a mixture of technical and commercial buying,” according to a Winnipeg-based trader. He said there had been support from other vegetable oils in the overnight trading. However, Malaysian palm oil retreated to finish […] Read more

ICE canola correcting higher early Thursday

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Aug. 6 (MarketsFarm) – The ICE Futures canola market was stronger Thursday morning, taking back Wednesday’s losses. Gains in Chicago Board of Trade soyoil accounted for some of the spillover buying interest, with Malaysian palm oil and European rapeseed futures also firm overnight. However, chart resistance held to the upside, […] Read more


North American Grain and Oilseed Review: Canola falls back as loonie passes 75 cents

Record yields weigh on CBOT soybeans

By Glen Hallick, MarketsFarm WINNIPEG, Aug. 5 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were mostly lower on Wednesday, due to the rise in the Canadian dollar. By mid-afternoon the loonie was at 75.30 U.S. cents, compared to Tuesday’s close of 74.78. A Calgary-based analyst explained the increase in the loonie is a result […] Read more

ICE Canola Midday: Stronger loonie generating drop in prices

Weaker U.S. $ boosting Cdn. $

By Glen Hallick, MarketsFarm WINNIPEG, Aug. 5 (MarketsFarm) – ICE Futures canola contracts were lower at midday Wednesday, due to the growing strength in the Canadian dollar, said a Winnipeg-based trader. The Canadian dollar was higher at 75.54 U.S. cents, compared to Tuesday’s close of 74.78. “It’s kind of a currency play here today, where […] Read more


ICE canola weakens as Canadian dollar rises

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Aug. 5 (MarketsFarm) – The ICE Futures canola market was mostly lower Wednesday morning, with strength in the Canadian dollar behind some of the selling pressure. The currency was up sharply relative to its United States counterpart, hitting its strongest levels in five months. The stronger Canadian dollar cuts into […] Read more

North American Grain and Oilseed Review: Canola mostly higher at start of new marketing year

US crop conditions weigh on CBOT values

By Glen Hallick, MarketsFarm WINNIPEG, Aug. 4 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were mixed on Tuesday after first day of the 2020/21 marketing year for canola and several other Canadian crops. The November contract was slightly lower and there was a firmer tone in the more deferred positions. Coming off of the […] Read more