CNS Canada — ICE Futures Canada canola contracts recorded substantial gains during the week ended Wednesday, on speculation the Trump administration would alter biofuel regulations in the U.S., which sparked a flurry of buying. So far the specifics of any changes have yet to be announced, but already some in the industry believe the U.S. […] Read more
ICE weekly outlook: Canola rises amid biofuel uncertainty
ICE weekly outlook: Canola sturdy, but watching beans
CNS Canada — ICE Futures Canada canola contracts drifted lower during the week ended Wednesday, but are still holding up rather well compared to the U.S. soy complex. “Canola is very sturdy,” said Ken Ball of PI Financial in Winnipeg, noting the Canadian oilseed has gained about $55 per tonne relative to the U.S. markets […] Read more
Canola crush margins continue downward slide
CNS Canada — Canola crush margins have continued their downward slide, falling to their lowest levels in 10 months over the past week. As of Friday, the Canola Board Crush Margins calculated by ICE Futures Canada were at about $86 above the March contract, which compares with levels a month ago of roughly $126. Crush […] Read more
ICE weekly outlook: Canola runs into headwind
CNS Canada — ICE Futures Canada canola contracts are running into major upside resistance from a chart standpoint, with a turn lower more likely than additional gains in the near term. “The demand component for canola remains quite strong, although domestic crush margins have diminished,” said Mike Jubinville of ProFarmer Canada. Soyoil futures at the […] Read more
ICE weekly outlook: Canola holds firm before USDA report
CNS Canada — ICE Futures Canada canola contracts made steady gains during the week ended Wednesday, as traders positioned themselves ahead of Thursday’s release of the U.S. Department of Agriculture’s next supply and demand report. “We’ve had a bit of a run over the past week and a bit; we popped off some oversold levels,” […] Read more
ICE weekly outlook: Canola pointed lower
CNS Canada — ICE Futures Canada canola contracts saw a bit of a corrective bounce on Wednesday but their overall trend remains pointed lower, with the winter highs possibly in for now, according to an analyst. “The technical and the fundamentals are pointing down,” said Errol Anderson of Pro Market Communications in Calgary, pointing to […] Read more
Canola crush margins tumble
CNS Canada — Canola crush margins dropped by more than $30 per tonne over the past two weeks, which may be putting a damper on end-user demand. As of Thursday, the Canola Board Crush Margins calculated by ICE Futures Canada were at about $100 above the March contract, which compares with levels only two weeks […] Read more
ICE weekly outlook: Easy come, easy go for canola
CNS Canada — The ICE Futures Canada canola market has been something of a maverick over the course of the week, bucking pressure from a stronger loonie and weaker soybeans, but traders could turn on the market in coming sessions, one analyst said. “There’s certainly some commercial buying keeping it firm, but it may be […] Read more
ICE weekly outlook: Weather trumps Trump on canola
CNS Canada — ICE Futures Canada canola contracts posted substantial gains during the week ended Wednesday, taking strength from a rally in the soy complex. Both front-end contracts rose $17 on the week, with the March contract jumping from $498 at its Jan. 11 close to settle at $515 a week later. Weather concerns in […] Read more
ICE weekly outlook: Canola watching South America
CNS Canada — ICE Futures Canada canola contracts moved lower during the week ended Wednesday, breaking below some chart resistance levels in the process. The chart pattern is turning flat, however, and further moves will likely depend on outside factors. Speculators have moved to the short side in the canola market, which accounted for some […] Read more
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