Chicago | Reuters – Archer Daniels Midland Co’s net profits doubled in the second quarter and beat Wall Street estimates, after a drought in Argentina and the U.S.-China trade spat boosted the U.S. grain merchant’s trading and oilseed processing businesses. Shares were up 1 percent at $47.86 after touching a three-year high on the New […] Read more
ADM earnings double, helped by U.S.-China trade row
ICE weekly outlook: Uncertainty to underpin canola in short term
CNS Canada — ICE Futures Canada canola futures advanced on the week and are likely to keep near-term support, one analyst says, as traders mull over the question: Just how much canola is out there? “There’s still a lot of uncertainty about canola numbers; we’re still not certain about how big the last crop was; […] Read more
ICE weekly outlook: Canola watching weather
CNS Canada — Snow, rain and cold temperatures over the past week helped canola futures trend higher, hitting their strongest levels in three months. With about a fifth of the crop facing harvest delays, more gains are possible, but the large U.S. soybean crop remains a bearish influence in the background. “Farmers continue to struggle […] Read more
ICE weekly outlook: Canola testing longtime support
CNS Canada — ICE Futures Canada canola contracts moved lower during the week ended Wednesday, breaking below nearby chart support in the process. The March contract fell below the $460 per tonne level during the week for the first time in nine months, but managed to recover to settle at $462.80 on Wednesday. A correction […] Read more
ICE weekly outlook: Canola drops below range
CNS Canada — ICE Futures Canada canola contracts finished the week ended Tuesday below their recent range, pressured there by a bearish U.S. Department of Agriculture report that sent grain and oilseed markets tumbling across North America. “Technically the chart looks like it is breaking down, we’re underneath the 50-day moving average in the January […] Read more
ICE Canada Weekly Outlook: Canola Stuck In Sideways Range
Winnipeg/Commodity News Service Canada – ICE Futures Canada canola contracts moved higher during the week ended November 4, bouncing off of nearby support levels. However, the market remains range-bound overall with little to indicate a break outside of that range. “These are just choppy markets,” said Ken Ball, of PI Financial in Winnipeg pointing to […] Read more
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