CNS Canada — ICE Futures Canada canola contracts held within a narrow $5 range over the past week, lacking any significant fundamental news one way or the other as market participants look for direction. “There’s just no news in the market,” said analyst Wayne Palmer of Agri-Trend. He thought prices would eventually move higher, but […] Read more
Tag Archives canola contracts — page 8
ICE weekly outlook: Canola flat, awaiting spark
Prairie canola, soy now in Cargill ProPricing portfolio
Canola and soybean growers in Western Canada are now able to get in on Cargill’s ProPricing grain marketing program for the 2017-18 season. The U.S. agrifood company’s Winnipeg-based Canadian arm announced Sept. 14 it would offer its first-ever canola contract in its ProPricing portfolio, allowing eligible growers to hand off a portion of their canola […] Read more
ICE weekly outlook: Canola rangebound ahead of harvest
CNS Canada — ICE Futures Canada canola contracts moved off of chart support during the week ended Wednesday, to hit its highest levels in two weeks. However, the market remains rangebound overall, as traders wait to get a better handle on the size of this year’s crop. With harvest operations just starting, Jamie Wilton of […] Read more
ICE weekly outlook: Canola headed down, looking for spark
CNS Canada — ICE Futures Canada canola contracts were up and down during the week ended Wednesday, with the bias turning lower as losses in outside markets weighed on values. Canola lost $10 in two days, with a slide in soyoil and crude oil futures behind some of the spillover weakness. “We’re not getting any […] Read more
ICE weekly outlook: Canola looks to stay below $500
CNS Canada — ICE Futures Canada canola contracts are facing some bearish weather conditions as more rain is expected to fall across parched regions of the Prairies. During the week ended Wednesday, most canola contracts posted losses. The dominant November contract fell $7.80, to $489.60. The lone exception was the nearby July contract, which eked […] Read more
ICE weekly outlook: More losses likely for bearish canola
CNS Canada — ICE Futures Canada canola contracts posted large losses during the week ended Wednesday, and could be headed even lower, as bearish technicals and weakness in global economic markets outweigh supportive fundamentals. “We’re going into a seasonally slower demand period,” said Errol Anderson of ProMarket Communications. A downgrade of China’s credit by Moody’s […] Read more
ICE weekly outlook: Canola looks to rise with commercial interest
CNS Canada — ICE Futures Canada canola contracts finished mixed during the week ended Wednesday as intermonth trading took hold with traders exiting the May contract in favour of the more deferred values. The May contract gained $5.70, while some of the outside contracts lost a few days. Ideas that supplies of canola are tightening […] Read more
ICE weekly outlook: Steady canola awaits acreage data
CNS Canada — ICE Futures Canada canola contracts fell to their lowest levels in six months during the week ended Wednesday, but uncovered support to the downside and may be entering a period of consolidation. “On canola, we’re seeing a stabilization period after a sharp downward move,” said Jerry Klassen, manager of Canadian operations with […] Read more
ICE weekly outlook: Canola under pressure
CNS Canada — ICE Futures Canada canola contracts posted large losses during the week ended Wednesday, and could be due for further declines as outside market influences remain bearish. “There are no bullish factors in the market at all,” said Wayne Palmer, senior market analyst with Agri-Trend Canada, adding “we’re going lower, before we’re going […] 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
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