MarketsFarm – It was a bit of a tough week for canola on the Intercontinental Exchange (ICE), although there was something of a bright spot after the release of the August supply and demand estimates from the United States Department of Agriculture (USDA). As one trader put it, canola did its job by increasing in […] Read more
ICE weekly outlook: Something of a tough week for canola
ICE weekly outlook: Volatility expected in canola markets
MarketsFarm – The ICE Futures canola market saw some large price moves during the week ended Aug. 4, hitting their lowest levels in a month as investors booked profits before recovering to hold relatively range-bound overall. More choppiness is expected over the next few weeks, as the market waits to get a better handle on […] Read more
ICE weekly outlook: Canola range-bound, awaiting harvest
MarketsFarm – ICE Futures canola contracts held within a relatively narrow range during the week ended July 28, as traders wait to get a better handle on the size of the Canadian crop. “We’re just waiting to see as we get into harvest what the crop size and crop yields look like,” said Jamie Wilton, […] Read more
ICE weekly outlook: $1,000 canola not a guarantee
MarketsFarm — Any idea of canola hitting $1,000 per tonne in the near future is not the sure thing some people may have thought it was, according to Errol Anderson, an analyst with ProMarket Communications in Calgary. “New-crop futures might take a run at $1,000 per tonne, but in the same breath the November contract […] Read more
Net long position in canola nears lowest level of past year
MarketsFarm — The managed money net long position in canola has edged down over the past few months, moving to its lowest level in nearly a year in the latest commitment of traders report from the U.S. Commodity Futures Trading Commission (CFTC). Managed money fund traders as of Tuesday were holding a net long position […] Read more
ICE weekly outlook: Expensive canola required
MarketsFarm — Canada’s coming canola harvest, if lower than projected, would add tremendous pressure to prices as supplies could become much tighter than they have, according to trader Ken Ball with PI Financial in Winnipeg. Ball believes the 2021-22 canola harvest could be as low as 16 million to 17 million tonnes, well below the […] Read more
ICE weekly outlook: Volatility to come for canola market
'Tighten up your seatbelt'
MarketsFarm — Record-breaking temperatures in British Columbia, lingering extreme heat in the Prairie provinces and little to no precipitation have strengthened an ongoing rally in the ICE Futures canola market. One trader, however, warns that canola contracts may be in for a mercurial few weeks. “We’re clearly in a weather market that is extremely volatile,” […] Read more
ICE weekly outlook: Weather, carryout support canola
MarketsFarm — As higher-than-normal temperatures become almost a weekly occurrence in Western Canada amidst tightening carryout stocks, canola seems primed for another extended rally. Despite rains in Western Canada over the past three weeks, providing some relief for canola crops and triggering fund liquidation on the markets, carryout remains very low, with warmer temperatures exacerbating […] Read more
ICE weekly outlook: Weather, soy complex weaken canola
MarketsFarm — Wet weather on the Prairies and U.S. northern Plains has brought downward pressure on ICE Futures canola prices, taking the market off the contract highs hit in early June. Losses in palm oil and soyoil were also bearish. While precipitation, or the potential of it falling over canola-growing areas in Western Canada and […] Read more
ICE weekly outlook: Canola market pits weather against supplies
MarketsFarm — As dry conditions remained prevalent across the Canadian Prairies and U.S. northern Plains, despite recent precipitation, the markets were in a struggle between the weather and tightening supplies, according to Winnipeg analyst Wayne Palmer of Exceed Grain. So far for the week of June 7, central and northern Alberta received rain, followed by […] Read more
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