MarketsFarm — Commodity fund traders bought back some of their previously sold contracts in canola during the week ended Tuesday, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). The net managed money short position in ICE Futures canola came in Tuesday at 50,987 contracts, a decrease […] Read more
Speculators covering canola shorts in latest trading report
ICE weekly outlook: Palm oil shortage leads to canola rally
MarketsFarm — As Malaysian palm oil continues to increase in price due a shortage, it has led to a rally in canola on ICE Futures, said Wayne Palmer of Exceed Grain in Winnipeg. The shortage stems from dry conditions in Indonesia and Malaysia, the world’s top two palm oil producers. While the dryness has been […] Read more
Fund traders hold steady in canola
MarketsFarm — Commodity fund traders are maintaining a steady short position in ICE Futures canola, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). The net managed money short position in ICE Futures canola came in at 53,576 contracts on Tuesday, steady with the previous week. Open […] Read more
ICE weekly outlook: Steady canola market stuck in rut
MarketsFarm — ICE Futures canola held within a narrow range during the week ended Wednesday, as the market waits for fresh news to push it one way or the other. “There are certainly some supportive elements underneath the marketplace,” said Mike Jubinville of MarketsFarm Pro, pointing to an upward trend in world vegetable oil prices […] Read more
ICE weekly outlook: Rangebound canola vulnerable to losses
MarketsFarm — ICE Futures canola contracts moved lower during the week ended Wednesday and may have more room to the downside, despite persistent harvest delays across Western Canada. “Overall, we’re still rangebound, but we’re going to the lower part of the trading window,” said analyst Errol Anderson of Pro Market Communications in Calgary. “Canola is […] Read more
Canola crush margins double year-ago level
MarketsFarm — Canola crush margins have shown considerable improvement in recent weeks — a sign the commodity is looking cheap compared to its product values. As of Monday, the Canola Board Crush Margin calculated by ICE Futures U.S. was about $100 above the November contract — a figure up by $10 over the past month […] Read more
ICE weekly outlook: Canola values stay rangebound
MarketsFarm — One canola trader wouldn’t go so far as to calling the canola market lifeless, but it has remained rangebound for most of the week. That’s mainly due to pressure from harvest activity, which has carried on at an impressive pace on the Canadian Prairies despite being mired with difficult weather conditions. “I’ve talked […] Read more
Fund traders back away from bearish bets in grains, oilseeds
MarketsFarm — Commodity fund traders were busy covering short positions in corn and canola during the week ended Oct. 8, and even moved to a small net long in soybeans, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). The net managed money short position in ICE […] Read more
ICE weekly outlook: More than weather behind canola uptrend
MarketsFarm — Canola’s sharp rise over the last week can be attributed not only to poor weather on the Prairies, but to other factors as well, according to MarketsFarm Pro analyst Mike Jubinville. For seven straight trading sessions, canola bids have climbed, from $445.60 per tonne at the close of trading on Sept. 27 to […] Read more
Canola breaks out of sideways range, uptrend slowing
MarketsFarm — ICE Futures canola broke out of a long standing sideways trading range during the first week of October, but could be running out of steam to the upside from a technical standpoint. The nearby November contract had held within a $15 range between $440 and $455 per tonne all summer, but jumped out […] Read more
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