Glacier FarmMedia MarketsFarm – The ICE Futures canola market drifted lower on Friday due to negative sentiment in vegetable oils, ending its five-day rally. Chicago soyoil, European rapeseed and Malaysian palm oil were all in the red. However, crude oil was up ahead of an OPEC= meeting on June 2 to discuss supply cuts. The […] Read more
North American Grain/Oilseed Review: Canola down, grains mostly higher
ICE Midday: Canola futures seeing red
Glacier FarmMedia MarketsFarm – The ICE Futures canola market drifted a bit lower on Friday due to negative sentiment in vegetable oils. Chicago soyoil, European rapeseed and Malaysian palm oil were all in the red. However, crude oil was up slightly despite growing United States stockpiles. The Canadian dollar was up two-tenths of a U.S. […] Read more
ICE Canada Morning Comment: Canola slipping back
Pressure coming from lower comparable oils
By Glen Hallick Glacier Farm Media MarketsFarm – Intercontinental Exchange canola futures turned lower on Friday morning, due to a lack of support from comparable oils. Malaysian palm oil closed slightly lower and European rapeseed fell back, while the Chicago soy complex was mixed. Global crude oil prices turned around to edge higher, with some […] Read more
North American Grain/Oilseed Review: Canola strengthens, soybeans drop
Glacier FarmMedia MarketsFarm — The ICE Futures canola market was higher on Thursday despite mixed comparable oils. European rapeseed and Malaysian palm oil made gains. However, Chicago soyoil was down and crude oil was lower as the trade weighed an upcoming meeting of OPEC+ and speculation over cuts to key interest rates in the United States. […] Read more
ICE Midday: Canola mixed in middle of trading
Glacier FarmMedia MarketsFarm – The ICE Futures canola market showed a lack of direction on Thursday to go along with mixed comparable oils. European rapeseed and Malaysian palm oil made gains. However, Chicago soyoil was down and crude oil was lower as the trade weighed an upcoming meeting of OPEC+ and speculation over cuts to […] Read more
ICE Canada Morning Comment: Canola climbing higher
November well above its 200-day moving average
By Glen Hallick Glacier Farm Media MarketsFarm – Intercontinental Exchange canola futures continued to push upward on Thursday morning, getting support from comparable oils. There were increases in the Chicago soy complex, as well as European rapeseed and Malaysian palm oil. Moderate gains in crude oil spilled over into the oilseeds. The new crop November […] Read more
North American Grain/Oilseed Review: Canola, soybeans on the rise
Glacier FarmMedia MarketsFarm — The ICE Futures canola market held onto its small gains on Wednesday, but settled well off its session highs after rising to its strongest levels of 2024 earlier in the day. Canola was supported by Chicago soyoil and European rapeseed. However, crude oil was down after reports suggested a growth in […] Read more
ICE Midday: Canola extends rally
Glacier FarmMedia MarketsFarm – The ICE Futures canola market maintained its momentum from Tuesday, rising to calendar-year highs on Wednesday. Canola was supported by Chicago soyoil and European rapeseed. However, Malaysian palm oil was down and so was crude oil after reports suggested a growth in United States stockpiles. The Canadian dollar was down one-tenth […] Read more
ICE Canada Morning Comment: Canola continuing to rally
AAFC raises canola ending stocks
By Glen Hallick Glacier Farm Media MarketsFarm – Intercontinental Exchange canola futures remained on the rise Wednesday morning. While good seeding progress is expected to be made on the Prairies this week, rains still have the trade concerned about delays getting the crop into the ground. Support for canola also came from upticks in Chicago […] Read more
North American Grain/Oilseed Review: Canola up, grains mixed
Glacier FarmMedia MarketsFarm – The ICE Futures canola market showed independent strength coming out of the Victoria Day long weekend amid weakness in comparable oils. Chicago soyoil, European rapeseed and Malaysian palm oil were all down on Tuesday, but had moved higher on Monday when the Canadian markets were closed. Crude oil was also lower […] Read more