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: Canola drops amid widespread pressure
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
Canola crush margins hit best levels in months
CNS Canada –– Canola crush margins have improved considerably over the past few weeks, hitting levels not seen in over six months, as vegetable oil prices rose and the Canadian dollar dropped. Crush margins provide an indication of the profitability of the product values relative to the seed cost when processing canola, with exchange rates […] Read more
ICE weekly outlook: Canola watching currency markets
CNS Canada — ICE Futures Canada canola contracts moved higher during the week ended Wednesday, but further gains may be hard to come by without more support from the currency markets. “We’ve been held up here by the weaker Canadian dollar,” said Jerry Klassen, manager of the Canadian office for Swiss-based GAP S.A. Grains and […] Read more
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