CNS Canada — The ICE Futures Canada canola market rose over the week ended Wednesday. A lack of farmer selling combined with currency issues and action in the soy market to give the market a boost. One trader said the declining open interest caused him to think funds were also liquidating some of their long […] Read more
ICE weekly outlook: Canola to keep support going forward
ICE weekly outlook: Canola recovers, but faces resistance
CNS Canada — ICE Futures Canada canola contracts managed to post small gains over the week ended Wedensday, as the market recovered off of the contract lows hit the previous week. However, former support levels are now acting as resistance, as the market finds itself in a new, slightly lower range. Support in the front […] Read more
ICE weekly outlook: Canola drops amid widespread pressure
CNS Canada — ICE Futures Canada canola contracts suffered significant losses during a volatile week ended Wednesday. While futures managed to recover off their fresh contract lows hit during the week, the overall technical bias remained pointed lower. Weakness in the U.S. soy complex and vegetable oil market were joined by strength in the Canadian […] Read more
ICE weekly outlook: ‘Time will tell’ for canola after drop
CNS Canada — Canola contracts on the ICE Futures Canada platform dropped sharply during the week ended Wednesday, falling below major support as some stops were hit on the way down. While damage was done from a chart standpoint, end-user demand remains solid and “time will tell” if the downtrend continues or if canola manages […] Read more
ICE weekly outlook: Canola watching currency, soybeans
CNS Canada — ICE Futures Canada canola contracts posted small gains during a choppy trading week ended Wednesday. Values were under pressure from the start due to a sharp break below major chart support on Feb. 9. Expectations of a large soybean crop from South America along with the ever-strengthening Canadian dollar put pressure on […] Read more
ICE weekly outlook: Canola testing longtime support
CNS Canada — ICE Futures Canada canola contracts moved lower during the week ended Wednesday, breaking below nearby chart support in the process. The March contract fell below the $460 per tonne level during the week for the first time in nine months, but managed to recover to settle at $462.80 on Wednesday. A correction […] Read more
ICE weekly outlook: Canola posts gains as loonie plunges
CNS Canada — ICE Futures Canada canola contracts advanced during the week ended Wednesday, on the back of currency action that made the commodity more desirable to international buyers. “This Canadian dollar has really helped out exports to China, Japan, Pakistan and Mexico,” said Wayne Palmer of Agri-Trend Marketing in Winnipeg. The loonie continued to […] Read more
ICE weekly outlook: Canola stuck in sideways range
CNS Canada –– ICE Futures Canada canola contracts posted small losses during the week ended Wednesday, but remained rangebound overall. That sideways activity is expected to continue over the next month or so, as large supplies and increased farmer selling, on the one side, is countered by solid end-user demand and the weaker Canadian dollar. […] Read more
ICE weekly outlook: Canola still rangebound on charts
CNS Canada — ICE Futures Canada canola contracts broke above major resistance levels this week, hitting levels not seen since August. However, as they say, what comes up must come down — and prices were well off of those highs by Tuesday’s close, bringing the market back within its long-standing trading range. The most active […] Read more
ICE weekly outlook: Canola seesaws with StatsCan report
CNS Canada — ICE Futures Canada canola contracts posted modest losses for the week ended Wednesday, with the January contract falling slightly below the key technical benchmark of $470 per tonne. Still, at least one analyst said he thinks canola is well positioned to climb higher. A bearish Statistics Canada report on Friday pegged canola […] Read more
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