CNS Canada — ICE Futures Canada canola contracts were mixed during the week ended Wednesday, with losses in the most active November contract but a slightly firmer tone in the more deferred positions. With harvest pressure only beginning in Western Canada, and the U.S. soy complex looking bearish, the front month will likely keep drifting […] Read more
ICE weekly outlook: More losses in store for canola
ICE weekly outlook: Further weakness in store for canola
CNS Canada –– The ICE Futures Canada canola market moved lower during the week ended Wednesday, breaking below the key support level of C$480 per tonne in the November contract. With the technical bias pointed lower, further weakness is expected to be in store for the commodity. “I think the ideas in the trade are […] Read more
ICE weekly outlook: Canola drop may spur fresh demand
CNS Canada — ICE Futures Canada canola futures dropped sharply on Wednesday as the market reacted to a surprisingly bearish U.S. Department of Agriculture report and resulting losses in soybeans. While the nearby technical bias has turned bearish, the latest weakness may also serve to uncover some fresh export demand for canola. “It’s a reminder […] Read more
ICE weekly outlook: Canola rises ahead of USDA report
CNS Canada –– ICE Futures Canada canola contracts moved higher during the week ended Wednesday, as traders began to position themselves in anticipation of a U.S. report due out Aug. 12. The U.S. Department of Agriculture’s World Agricultural Supply and Demand Estimates (WASDE) report “is certainly a factor” in the direction of canola, said Keith […] Read more
ICE weekly outlook: Canola faces resistance
CNS Canada — ICE Futures Canada canola contracts traded within a wide range during the week ended Wednesday, but settled mixed as the market reacted to conflicting outside factors. While the nearby bias has shifted lower in the most active months, ongoing production uncertainty in Western Canada should remain supportive in the long run, according […] Read more
ICE weekly outlook: Weather still key for canola
CNS Canada –– The ICE Futures Canada canola market moved lower during the week ended Wednesday, as speculators took profits on a recent rally that saw values hit fresh contract highs. Spillover pressure from the declines in Chicago soybean futures was also bearish for values. There were some reports of improving weather conditions for the […] Read more
ICE weekly outlook: Canola receives boost from soybeans
CNS Canada — The ICE Futures Canada canola market pulled higher during the week ended Tuesday, following heavy gains in the U.S. soy complex which advanced to its highest point in five months Tuesday. Traders were keenly observing Tuesday’s 2015-16 Statistics Canada acreage report which called for 19.84 million acres of canola in Western Canada. […] Read more
ICE weekly outlook: Weather key to canola market
CNS Canada — ICE Futures Canada canola contracts climbed to their highest levels in two years during the week ended Wednesday, with mounting weather concerns across the Prairies the key driver in the market. “This thing will keep going until we get some rain,” said Jerry Klassen, manager of GAP S.A. Grains and Produits in […] Read more
Canola crush margins keep dropping
CNS Canada — Canola crush margins remain in free-fall as canola seed becomes more and more expensive relative to the product values. “They’re not deteriorating, they’re flat-out disintegrating,” said a canola trader, pointing to the $20 drop over the past week alone. Crush levels have only been lower than they are now a couple times […] Read more
ICE weekly outlook: New-crop canola to break $500
CNS Canada — The ICE Futures Canada canola market moved higher during the week ended Wednesday, rebounding after the November contract hit support levels earlier on Monday. With recent drought and frost in Western Canada, canola ending stocks are expected to be very tight at the end of 2015-16, which is supporting prices and could […] Read more
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