CNS Canada — This week’s acreage estimates from Statistics Canada could bring an end to canola’s recent chart surge upward — or could give futures the impetus to move even higher. The dominant July contract closed Wednesday at $535 per tonne, a gain of $8 from the previous Wednesday’s close. Prairie farmers on Friday will […] Read more
ICE weekly outlook: Canola awaits acreage report
ICE weekly outlook: Sturdy canola watching weather
CNS Canada — Canola futures are trading at roughly the same level they were a month ago, but the commodity is looking much more expensive from an end-user’s perspective, as crush margins have lost about $25 per tonne since the middle of March. “The Canadian dollar has been going up and bean oil is making […] Read more
ICE weekly outlook: Canola backs away from lofty heights
CNS Canada — It was a busy week for canola contracts on ICE Futures Canada as the most-active July contract rocked and rolled between $530 and $540 per tonne before settling Wednesday at the $528 mark. The last time the dominant canola contract was above the $535 mark was in November last year. Commercial interest, […] Read more
Canola chart points to bearish reversal
CNS Canada — After hitting a contract high Monday, the ICE Futures Canada July canola contract subsequently turned decidedly lower to form a key reversal pattern from a chart perspective. July canola hit a high of $539.50 per tonne Monday, but settled right around where it started, near the lows of the day, at $536.70. […] Read more
ICE weekly outlook: Canola watching U.S./China spat
CNS Canada — ICE Futures Canada canola contracts moved steadily higher over the past week as grain markets reacted to a mounting trade dispute between China and the U.S. While no sanctions are yet in place, the back-and-forth sabre-rattling between the two countries now includes proposed Chinese tariffs on U.S. soybeans, which weighed heavily on […] Read more
ICE weekly outlook: Canola seeks support amid bearish signals
CNS Canada –– ICE Futures Canada canola contracts appear to be tilting to the downside as they enter the Easter break, and will likely need support from a key U.S. government report if they want to stay in their current range. At 11 a.m. CT, Thursday, the U.S. Department of Agriculture is scheduled to release […] Read more
ICE weekly outlook: Canola futures linked to NAFTA
CNS Canada — ICE Futures Canada canola contracts zigged and zagged around the $520 per tonne mark during the week ended Wednesday — but one analyst says the market could really take a turn if and when the future of the North American Free Trade Agreement is clarified. “The Canadian dollar is already moving to […] Read more
ICE weekly outlook: Canola bids ‘not too bad’
CNS Canada — ICE Futures Canada canola contracts have seen some large price swings over the past two weeks, but the bids in the countryside remain relatively favourable overall, according to an analyst. The May contract hit a nearby high of $530.50 per tonne on March 5 before dropping to a session low of $511.50 […] Read more
ICE weekly outlook: Canola backing away from resistance
CNS Canada — ICE Futures Canada canola contracts appear to have finally run into some resistance after trending higher for all of February. While a return higher is possible, canola will take most of its direction going forward from what happens in outside markets. The May canola contract hit a three-month high of $531 per […] Read more
Canola nearing chart resistance
CNS Canada — The ICE Futures Canada canola market remains in a steady uptrend from a chart standpoint, with the May contract posting gains Monday for the 11th straight session. However, the futures are getting very close to upper resistance. May canola settled Monday at $530.50 per tonne, after climbing by roughly $30 over the […] Read more
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