CNS Canada –– Both old- and new-crop canola contracts traded on the ICE Futures Canada platform climbed to new highs on Tuesday, with a bullish reaction to U.S. supply/demand data providing the catalyst for the rally. The most active July futures touched a session high of $544.60 per tonne, before settling Tuesday at $532.30. The […] Read more
Bullish canola futures hit new highs
ICE weekly outlook: Canola hits $500, watching volumes
CNS Canada — ICE Futures Canada canola contracts seem to have found a new range during the week ended Wednesday, with both the July and November contracts lifting around the $500 per tonne mark. Weakness in the Canadian currency and a dry weather premium in Western Canada were behind a lot of the support. As […] Read more
ICE weekly outlook: Still room higher for canola
CNS Canada –– ICE Futures Canada canola contracts moved higher during the week ended Wednesday, with the biggest gains in the front months. While the market ran into some resistance on Wednesday, there is still more room to the upside from both a chart and fundamental perspective. “We’re still in an upward trend; we haven’t […] Read more
ICE weekly outlook: Canola watching acreage numbers
CNS Canada — ICE Futures Canada canola contracts rose during the week ended Wednesday, as strong advances in U.S. soy overpowered resistance cast on the market by the stronger Canadian dollar. The canola market “was able to get some support from the soy action but the Canadian dollar has taken most of it away… it’s […] Read more
ICE weekly outlook: Canola wary of soybean rally
CNS Canada — ICE Futures Canada canola contracts moved lower overall during the week ended Wednesday, as the bearish influence of the rising Canadian dollar countered any spillover support from gains in CBOT soybeans. CBOT soybeans climbed sharply over the course of the week. However, the Canadian dollar has also posted solid gains over the […] Read more
ICE weekly outlook: Canola ebbs, flows in wide range
CNS Canada –– ICE Futures Canada canola contracts have moved steadily higher over the past month, but the market remains rangebound overall. “There are underlying supportive influences for canola, but it still comes down to the bigger trends in vegetable oils and oilseeds competing internationally,” said Mike Jubinville of ProFarmer Canada, adding that “there’s a […] Read more
ICE weekly outlook: Canola watching USDA report
CNS Canada — ICE Futures Canada canola contracts advanced during the week ended Wednesday, as weakness in the Canadian dollar and solid support from vegetable oil pushed prices higher. The front-month May contract started the period below technical resistance but soon climbed above $470 per tonne and at one point appeared ready to test the […] Read more
ICE weekly outlook: Canola turning sideways
CNS Canada –– ICE Futures Canada canola contracts hit some of their best levels in a month during the week ended Wednesday, but appear to have run into resistance from a chart standpoint as the near-term outlook shifts sideways. The May contract hit a session high of $476 per tonne on Tuesday, but was unable […] Read more
ICE weekly outlook: Canola to keep support going forward
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 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
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