Canola futures at the Intercontinental Exchange (ICE) rose to their highest levels of 2024 during the week ended May 22.
ICE Weekly: Canola reaches 2024 highs
ICE canola weekly outlook: Uptrend intact, but watching weather
ICE Futures canola contracts climbed to their highest levels of 2024 in early May before taking a step back on May 8. While the uptrend is still intact, improving moisture conditions across Western Canada could limit any further gains.
ICE Canada Weekly: Almost no chance of bullish path for canola
There are simply too many bearish factors that continue to weigh on canola values, leaving the oilseed unable make any sort of turnaround in early May, according to Tony Tryhuk of RBC Dominion Securities in Winnipeg.
ICE Weekly: Canola rises sharply
In a show of independent strength, canola futures on the Intercontinental Exchange (ICE) had one of its best weeks this calendar year during the week ended April 24.
ICE canola weekly outlook: Trends shift lower once again
Canola futures broke below major chart support levels in mid-April, with nearby price trends all turning lower as attention in the market turns to the upcoming crop.
ICE Canada Weekly: Canola looking to S&D report for direction
While the start of the week of Apr. 8 saw canola futures on the Intercontinental Exchange trade in a very narrow range, broker Jamie Wilton of RJ O’Brien in Winnipeg said that could soon change.
ICE Weekly: More room to the upside for canola
After the May contract on the Intercontinental Exchange (ICE) fell to its lowest level in two-and-a-half weeks, at C$615.70 per tonne on March 28, it jumped to rise above C$645 on April 2. However, the contract closed C$10 below their daily highs on both April 2 and 3.
ICE Canada Weekly: Canola set to rise, but not a sure thing
After incurring sharp losses on Tuesday and Wednesday, canola futures on the Intercontinental Exchange were poised for a turnaround to swing higher. MarketsFarm analyst Mike Jubinville suggested that cash prices on the Canadian Prairies should soon return to C$14 per bushel and maybe push as high as C$15.
ICE Weekly: Canola hitting highest levels since January
Nearly seven months of price pressures and fund selling creating a lengthy downturn have given way to canola trending higher for the first time in 2024.
ICE Canada Weekly: Look for canola to ease back
At mid-March one broker said he expects canola prices on the Intercontinental Exchange to make their way lower for the balance of the month.
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