CNS Canada — Traders’ attention at the ICE Futures Canada canola market has now turned to western Canadian weather and news south of the border. While there was a reprieve from the drought over the last week, with rain falling in parts of Western Canada, large areas missed out on the moisture. More rain is […] Read more
ICE weekly outlook: Weather, U.S./China relations influence canola
ICE weekly outlook: Canola still stuck in neutral
CNS Canada — The ICE Futures Canada canola market held rangebound during the week ended Wednesday, hitting some of its best levels of the past month before retreating to hold within a well-established trading range. “We’ve been in a $50 range in canola going back quite a few years,” said David Derwin, commodities investment advisor […] Read more
ICE weekly outlook: Canola waits on stocks data
CNS Canada — ICE Futures Canada canola contracts continue to chop around within a fairly tight range, but that could all change in the next few days as stocks data for North American oilseeds are due to be released. The U.S. Department of Agriculture is set to release its May supply and demand report on […] Read more
Exchange’s move means ‘zero change’ on canola traders’ screens
CNS Canada — Traders who handle canola futures on the former Winnipeg Commodity Exchange see some question marks ahead as the canola futures market gets set to pack up and move to New York at the end of July, pending regulatory approval. Atlanta-based Intercontinental Exchange (ICE), which has owned Winnipeg’s ICE Futures Canada canola market […] Read more
ICE to move canola trade to U.S. exchange
The business of trading and clearing canola futures is poised to leave Winnipeg for New York City this summer. Atlanta-based Intercontinental Exchange (ICE), the operator of canola exchange ICE Futures Canada, announced Tuesday it will be “transitioning” the trading and clearing of canola contracts to New York-based ICE Futures U.S. and ICE Clear U.S. ICE […] Read more
ICE weekly outlook: Canola ‘stuck in neutral’
CNS Canada — ICE Futures Canada canola contracts are lacking any clear direction at the beginning of May, and may stay rangebound through the seeding period. “Canola is stuck in neutral,” said Wayne Palmer, senior market analyst with Agri-Trend Marketing. “We’re at that stage where it’s rangebound, waiting for news, and watching the weather across […] Read more
ICE weekly outlook: Canola awaits acreage report
CNS Canada — This week’s acreage estimates from Statistics Canada could bring an end to canola’s recent chart surge upward — or could give futures the impetus to move even higher. The dominant July contract closed Wednesday at $535 per tonne, a gain of $8 from the previous Wednesday’s close. Prairie farmers on Friday will […] Read more
ICE weekly outlook: Sturdy canola watching weather
CNS Canada — Canola futures are trading at roughly the same level they were a month ago, but the commodity is looking much more expensive from an end-user’s perspective, as crush margins have lost about $25 per tonne since the middle of March. “The Canadian dollar has been going up and bean oil is making […] Read more
ICE weekly outlook: Canola backs away from lofty heights
CNS Canada — It was a busy week for canola contracts on ICE Futures Canada as the most-active July contract rocked and rolled between $530 and $540 per tonne before settling Wednesday at the $528 mark. The last time the dominant canola contract was above the $535 mark was in November last year. Commercial interest, […] Read more
Canola chart points to bearish reversal
CNS Canada — After hitting a contract high Monday, the ICE Futures Canada July canola contract subsequently turned decidedly lower to form a key reversal pattern from a chart perspective. July canola hit a high of $539.50 per tonne Monday, but settled right around where it started, near the lows of the day, at $536.70. […] Read more
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