ICE November 2023 canola with 20- and 100-day moving averages. (Barchart)

ICE weekly outlook: Harvest pressure to weigh on canola

StatCan report not expected to cause much stir

MarketsFarm — The ICE Futures canola market posted gains for the first time in more than a week on Wednesday, but damage was done from a chart standpoint with mounting harvest pressure amid relatively favourable Prairie weather conditions likely to weigh on values over the next few weeks. “It’s that time of year,” said Jamie […] Read more





ICE May 2023 canola with 20-, 50- and 100-day moving averages. (Barchart)

ICE weekly outlook: Canola drifts downward with soybeans

Wheat's recent decline may spur canola acres

MarketsFarm — The ICE Futures canola market drifted downward during the week ended Wednesday largely due to macroeconomic activity in the markets, according to one analyst. Jerry Klassen from Resilient Commodity Analysis in Winnipeg said canola prices have mostly followed the lead of the Chicago soy complex, while rains fell on Brazil as its soybean […] Read more

ICE March 2023 canola with 20-, 50- and 100-day moving averages. (Barchart)

ICE weekly outlook: Sideways canola market watching macros

USDA report may offer nearby direction

MarketsFarm — ICE Futures canola contracts remain stuck in a sideways trading range to start the New Year, with bearish outside forces countered by relatively supportive fundamentals. From a chart standpoint, March canola is stuck in a sideways range between $800 and $900, with little to suggest a break one way or the other for […] Read more


ICE March 2023 canola with 20-, 50- and 100-day moving averages. (Barchart)

ICE weekly: Canola regains strength after days of declines

MarketsFarm — After a losing string of four straight sessions, the ICE Futures March canola contract regained some strength on Wednesday. Limited and choppy trading in nearby soybean contracts had pulled down canola for most of the week, according to Winnipeg-based independent trader Jerry Klassen. “When the March got up to $868-$870 (per tonne)… there […] Read more

ICE January 2023 canola with 20-, 50- and 100-day moving averages. (Barchart)

ICE weekly outlook: Canola still rangebound but upside possible

Crush margins expected to stay high for now

MarketsFarm — The ICE Futures canola market traded within a certain range for the week ended Wednesday, but one trader believes that wide crush margins will take prices over the psychological resistance level. Since nearly hitting the $900 per tonne mark on Nov. 15, the January canola contract declined for eight straight sessions before going […] Read more


ICE January 2023 canola (candlesticks) with 20- and 50-day moving averages. (Barchart)

ICE weekly outlook: Trader sees canola topping $900 mark soon

Crush margins at 'very, very extreme levels'

MarketsFarm — Despite surpassing the $900 per tonne mark at times during the week ended Wednesday, ICE Futures’ January canola contract never settled above that psychological level. Rising prices prior to the weekend later gave away to selling pressure after the weekend due to a correction in vegetable oil prices, according to broker Ken Ball […] Read more

ICE November 2022 canola (candlesticks) with 20-, 50- and 100-day moving averages (yellow, green and black lines). (Barchart)

ICE weekly outlook: Canola’s wide crush margins supportive

MarketsFarm — ICE Futures canola contracts backed away from nearby highs during the week ended Wednesday, but historically wide crush margins should keep the market well supported going forward. “The crush margins are unsustainably high,” said Ken Ball of PI Financial in Winnipeg, pointing to margins that currently work out to over $200 per tonne […] Read more