Winnipeg/Ottawa | Reuters — Canadian canola and wheat stockpiles were sharply lower in midsummer from a year earlier, the smallest in three years, but bigger than expected, a Statistics Canada report showed on Wednesday. StatsCan pegged all-wheat stocks as of July 31 at 5.2 million tonnes, down 27 per cent from a year ago but […] Read more
Canada’s canola, wheat stocks shrink less than expected
ICE weekly outlook: Canola sees ‘bump in a bear market’
CNS Canada — News that China would delay its implementation of stricter dockage restrictions on Canadian canola shipments gave ICE Futures Canada contracts a boost on Wednesday, but values are still trending lower overall. “It’s a bump in a bear market,” said analyst Errol Anderson of Pro Market Communications in Calgary, on the initial reaction […] Read more
ICE weekly outlook: Canola watching China before harvest
CNS Canada — The canola market continues to watch and wait for the Chinese and Canadian governments to resolve a dispute over the amount of dockage allowed in imports of Canadian canola. Until that happens, canola may face growing pressure between now and next week. On Sept. 1, China is scheduled to lower the amount […] Read more
Wide canola crush margins show no sign of narrowing
CNS Canada –– Canola crush margins remain very wide, and are showing no signs of narrowing back in. As of Friday, the Canola Board Crush Margins calculated by ICE Futures Canada were at about $130 above the November contract, which compares with levels at the same time a year ago of $58. Crush margins provide […] Read more
ICE weekly outlook: Traders watch China, production numbers
CNS Canada –– Two main factors are dominating the ICE Futures Canada canola market, one analyst says, as prices are poised to meet resistance in the near-term. “The market is looking for some signs of resolution around this Chinese dockage situation, and it just continues to bring a lot of uncertainty,” said Jonathon Driedger, market […] Read more
ICE weekly outlook: Canola looks to widen out range
CNS Canada — ICE Futures Canada canola contracts appear poised to chop around a new $20 trading range ahead of the harvest. The front-month canola contract had been down at $446 per tonne to start the week (Aug. 3-10) until speculator activity and spillover gains from vegetable oil helped bring it up to the $460 […] Read more
ICE weekly outlook: Canola sitting right above support
CNS Canada — ICE Futures Canada canola contracts moved lower during the week ended Wednesday, but held above major support as prices remain relatively cheap compared to other oilseeds. Fund traders adding to short positions were behind much of the weakness in canola, although traders said the net short position was reaching the point that […] Read more
ICE weekly outlook: Weather market ahead
CNS Canada — ICE Futures Canada canola prices edged up on the week, propped up by soggy Prairie fields and the anticipation for warm, dry weather in the U.S. Going forward, the market will be dominated by fund trading and weather-watching. “Funds are net short right now, and that’s something different, because we’ve rallied back […] Read more
Canola drops hard, nearing major chart support
CNS Canada — ICE Futures Canada canola contracts fell below nearby chart support on Thursday, hitting their softest levels in four months. There is more room to the downside, but the market is also looking oversold. Fund traders were noted sellers on the move down, liquidating long positions and possibly moving to the short side […] Read more
ICE weekly outlook: Canola looks for bounce-back
CNS Canada –– ICE Futures Canada canola contracts sunk lower during the week ended Wednesday, pressured by fund selling and a drop in the U.S. soy complex. However, there could be some relief in sight, as the market looks to correct itself. “Funds coming into this week were huge, longs in soybeans and corn; they’re […] Read more
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