CNS Canada — The ICE Futures canola market will bounce around in trade for the foreseeable future with the overall trend being downward, according to an analyst. “We’re just going to continue to migrate lower. (There) are going to be up days because nothing goes down forever,” said Wayne Palmer, senior market analyst with Exceed […] Read more
ICE weekly outlook: Canola trends lower as farmers sell, harvest
ICE weekly outlook: Soyoil, not weather, main influence on canola
CNS Canada — Wet and snowy weather now plaguing the Prairies isn’t to blame for the canola market’s recent upswing, according to one trader. “Canola’s been firm but it really hasn’t shown any reaction whatsoever to the weather; it’s going up because bean oil’s going up and it’s lagging the bean oil gains by quite […] Read more
Speculative short position grows in canola
CNS Canada — Large speculators continued to add to their net short positions in the ICE Futures canola market during the week ended Tuesday, according to the latest Commitment of Traders report compiled by the U.S. Commodity Futures Trading Commission (CFTC). Managed money and other reportable speculators grew their net short position in canola to […] Read more
ICE weekly outlook: Market watching weather, acres, trade
CNS Canada — Canola futures bounced around within a rather narrow range during the week ended Wednesday, but generally trended higher as the market recovered off of the four-month lows hit on June 19. Statistics Canada releases updated acreage estimates on Friday, and any surprises in the data could provide some nearby direction. The U.S. […] Read more
ICE weekly outlook: Weather, U.S./China relations influence canola
CNS Canada — Traders’ attention at the ICE Futures Canada canola market has now turned to western Canadian weather and news south of the border. While there was a reprieve from the drought over the last week, with rain falling in parts of Western Canada, large areas missed out on the moisture. More rain is […] Read more
While U.S. soybean growers fret, canola keeps shining
China has stopped buying American soybeans, while canola trade is comfortably boring
Reading Time: 4 minutes A potential U.S.-China trade war has American soybean growers anxiously watching the horizon, but it looks like smooth sailing for canola markets. “Canola is a high-quality oil that processors would use more of if they could get their hands on it. This does encourage more growth and also the increase of crush capacity we’ve seen […] Read more
ICE weekly outlook: Canola still stuck in neutral
CNS Canada — The ICE Futures Canada canola market held rangebound during the week ended Wednesday, hitting some of its best levels of the past month before retreating to hold within a well-established trading range. “We’ve been in a $50 range in canola going back quite a few years,” said David Derwin, commodities investment advisor […] 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 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
ICE weekly outlook: Canola rides soymeal wave higher
CNS Canada — ICE Futures Canada canola contracts rode the coattails of a surging soymeal market during the week ended Wednesday, but one big rain in Argentina could halt the rally in its tracks. “If there’s more rain in the forecast we will lose ground,” said Mike Jubinville of ProFarmer Canada. “The attitude is the […] Read more
Cyber-Savvy Farmer
