CNS Canada — The ICE Futures canola market will bounce around in trade for the foreseeable future with the overall trend being downward, according to an analyst. “We’re just going to continue to migrate lower. (There) are going to be up days because nothing goes down forever,” said Wayne Palmer, senior market analyst with Exceed […] Read more
Tag Archives canola futures — page 15
ICE weekly outlook: Canola trends lower as farmers sell, harvest
Canola funds bail out of short positions
CNS Canada –– Large speculative traders bailed out of short positions in canola and picked up some new longs during the week ended Tuesday, cutting their net short position sharply, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). Managed money and other reportable speculators reduced their […] Read more
ICE weekly outlook: Canola backs away from nearby highs
CNS Canada — ICE canola futures hit their best levels in a month and a half earlier this week on the back of concerns over harvest delays, but ran into resistance and looked bearish once again by Wednesday. While cold, wet conditions continued to cause harvest delays, as noted in the weekly provincial crop reports, […] Read more
Canola speculators cover shorts
CNS Canada — Large speculators covered short positions in the ICE Futures canola market during the week ended Tuesday, cutting their net short position roughly in half, according to the latest Commitment of Traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). Managed money and other reportable speculators reduced their net short position […] Read more
ICE weekly outlook: Soyoil, not weather, main influence on canola
CNS Canada — Wet and snowy weather now plaguing the Prairies isn’t to blame for the canola market’s recent upswing, according to one trader. “Canola’s been firm but it really hasn’t shown any reaction whatsoever to the weather; it’s going up because bean oil’s going up and it’s lagging the bean oil gains by quite […] Read more
Speculative short position grows in canola
CNS Canada — Large speculators continued to add to their net short positions in the ICE Futures canola market during the week ended Tuesday, according to the latest Commitment of Traders report compiled by the U.S. Commodity Futures Trading Commission (CFTC). Managed money and other reportable speculators grew their net short position in canola to […] Read more
ICE weekly outlook: Canola still watching soy, weather
CNS Canada — ICE Futures canola contracts moved off their nearby lows over the week ended Wednesday as persistent harvest delays provided support. Additional strength, however, may be dependent on movement in the Chicago soybean market. “Soybeans will be the driving force behind which way canola futures go,” said commodities investment advisor David Derwin of […] Read more
Speculators grow net short position in canola
CNS Canada — Large speculators added to their net short positions in the ICE Futures canola market during the week ended Tuesday, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). Managed money and other reportable speculators grew their net short position in canola to 27,709 contracts […] Read more
ICE weekly outlook: Canola’s downward spiral to continue
CNS Canada — ICE Futures canola contracts will continue to drift downward for the foreseeable future, according to one analyst. “The demand isn’t here because the buyers know that the farmer is undersold and they have to sell it,” said Wayne Palmer, senior market analyst with Exceed Grain. The November canola contract dipped below the […] Read more
ICE weekly outlook: Pressure builds on canola as yield outlooks vary
CNS Canada — ICE’s November canola futures look poised to continue chopping around between the $490-$500 per tonne mark, as uncertainty over yields in Western Canada sows seeds of doubt throughout the trade. “Yields that have been coming in suggest the crop will be bigger than the (Statistics Canada) estimate,” said Ken Ball of PI […] Read more
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