CNS Canada — ICE Futures Canada canola futures moved slightly higher during the week ended Wednesday, as values stayed mostly rangebound amid a dearth of fresh fundamental news. “The open interest is going down because the funds have been liquidating their positions; down under 10,000 contracts,” said analyst Wayne Palmer of Agri-Trend Marketing in Winnipeg,. […] Read more
ICE weekly outlook: Canola treads water waiting for news
ICE weekly outlook: Rangebound canola could go either way
CNS Canada –– ICE Futures Canada canola futures moved lower during the week ended Wednesday, but remain stuck in the same wide range they’ve been in for the past month. The technical trend is starting to point lower, but the possibility of a seasonal bounce is also still there. From a chart standpoint, both the […] Read more
ICE weekly outlook: Canola moving into choppy spring pattern
CNS Canada –– The ICE Futures Canada canola market saw some large price swings during the week ended Wednesday, but ended relatively steady compared to prices seven days earlier. The market is starting to move into a nervous spring trading pattern, which kept prices relatively rangebound and should continue for the next three to four […] Read more
ICE weekly outlook: Canola rangebound, for now
CNS Canada –– ICE Futures Canada canola futures moved lower during the week ended Wednesday, but managed to find some support to the downside and are looking rangebound overall. Canola is still looking firm relative to Chicago (CBOT) soybeans, said broker Ken Ball of PI Financial in Winnipeg. While solid commercial demand was one supportive […] Read more
ICE weekly outlook: Canola’s trading range moving higher
CNS Canada — The ICE Futures Canada canola market was stronger during the week ended Wednesday, and is expected to stay in a higher trading range going forward. “For the front month May, C$448 per tonne is the support area. And right now we’re more than $20 above that,” said Errol Anderson of ProMarket Communications […] Read more
Canola crush margins still solid near $100
CNS Canada — Canola contracts on the ICE Futures Canada platform have traded within a wide range over the past month, but crush margins continue to hover around the $100 mark. Crush margins provide an indication of the profitability of the product values relative to the seed cost when processing canola, with exchange rates also […] Read more
ICE weekly outlook: Canola testing major support
CNS Canada — ICE Futures Canada canola contracts were lower for the week ended Wednesday, as continued losses in soybeans, and technical factors, weighed on canola values. The spillover weakness from soybeans was pronounced, according to analyst Wayne Palmer of Agri-Trend Marketing in Winnipeg, who noted beans were 40 cents off their nearby highs. The […] Read more
ICE weekly outlook: Canola runs into resistance
CNS Canada — ICE Futures Canada canola contracts hit their highest levels in seven months during the week ended Wednesday, but ran into resistance to the upside and posted small losses in most months on a week-by-week basis. The nearby March contract was down sharply on the week, as traders exited the front month and […] Read more
ICE weekly outlook: Canola reaching its upper range
CNS Canada — The ICE Futures Canada canola market moved higher during the week ended Wednesday, taking some direction from advances seen in Chicago soybean futures. But the market seems to be moving into its upper range and could be vulnerable to a downward correction going forward, according to Ken Ball of PI Financial in […] Read more
ICE weekly outlook: Canola hangs tough with loonie
CNS Canada –– ICE Futures Canada canola contracts were rangebound for the week ended Wednesday, but managed to post slight gains overall as a weaker Canadian dollar supported values. “Weakness in the Canadian dollar is the underlying supportive factor,” said Keith Ferley of RBC Dominion Securities in Winnipeg. Funds are very long right now, he […] Read more
Cyber-Savvy Farmer
