CNS Canada — ICE Futures Canada canola contracts moved lower during the week ended Wednesday, as bearish technical signals, declines in the outside crude oil market and losses in CBOT soybeans weighed on values. While a short-covering correction is possible in the near-term, the longer-term direction will continue to be dictated by soybeans. The nearby […] Read more
ICE weekly outlook: Canola looking bearish with soybeans
ICE weekly outlook: Canola to hit major resistance at C$440
CNS Canada — Canola futures were holding relatively steady during the week ended Wednesday, and are expected to continue in a rangebound pattern this winter. The March future is likely to find major resistance at the $440 per tonne level over the next month or so, said Jerry Klassen, manager for Swiss-based GAP SA Grains […] Read more
ICE weekly outlook: Canola feeling soy pressure
CNS Canada –– ICE Futures canola contracts were mixed during the week ended Wednesday, with the most-active January contract feeling pressure from declines in the U.S. soy complex. With the harvest over and no major reports scheduled within the next seven days, it is difficult to see canola breaking very far one way or the […] Read more
ICE weekly outlook: Canola mixed, watching beans
CNS Canada — ICE Futures Canada canola contracts were mixed during the week ended Wednesday, with losses in the front months and a firmer tone in some of the more deferred positions. The most active January contract lost $5.40 per tonne during the week, while the March contract was only down 40 cents. As a […] Read more
ICE weekly outlook: Canola still married to soybeans
CNS Canada –– ICE Futures Canada canola futures were mostly higher during the week ended Wednesday, with some support coming from gains in the Chicago soy complex. Speculative-based short covering, after the January contract moved above the 30-day moving average at about $411 per tonne on Wednesday, was also bullish, according to analysts. The January […] Read more
ICE weekly outlook: Canola choppy with outside markets
CNS Canada –– ICE Futures Canada canola contracts were up and down during the week ended Wednesday, but managed to post gains overall as a weaker Canadian dollar and spillover from the advances in CBOT soybeans provided support. Whether strength in canola will continue remains to be seen. “All of these gyrations of late (in […] Read more
Lower loonie keeps support under canola on downtrend
USDA's ending stocks estimates are bearish for wheat
Reading Time: 3 minutes ICE Futures Canada canola futures continued their recent downward trend during the week ended Jan. 10, holding just above record lows in the nearby contracts. The burdensome supply situation continued to overhang the canola market during the week, as did the technical bias that remains pointed lower. Canadian farmers produced a record-large 18 million tonnes […] Read more
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