Winnipeg | Reuters –– As some Western Canada farmers watched rain and snow turn their ripening canola fields into bogs, Rob Stone could count his blessings. Harvest weather was kinder to his farm at Davidson, Sask., about 100 km southeast of Saskatoon, and Stone finished harvesting canola by mid-September. Then, when worries about four million […] Read more
Tag Archives canola futures — page 27
Harvest woes rally canola, turn some farmers into winners
ICE weekly outlook: Canola watches weather amid uptick in price
CNS Canada –– Canola futures burst through the psychologically-important $500 per tonne mark during the week ended Wednesday, but now face a critical juncture as weather and time will dictate how much of the remaining crop farmers can get off before winter. “Harvest prospects don’t look that great right now as it doesn’t dry up […] 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
Canola technicals rangebound
CNS Canada –– ICE Futures Canada canola contracts may have seen some weather-related strength over the past week, but technical signals remain relatively flat overall. The November contract settled Friday at $469.80 per tonne, nearing the high end of a corkscrew pattern — a series of higher lows and lower highs — going back over […] Read more
ICE weekly outlook: Harvest to keep market rangebound
CNS Canada — ICE Futures Canada canola contracts have a softer tone, but are likely to stay rangebound in the short term, one analyst says. “We’re not looking for a significant breakout,” said Jerry Klassen, manager of Canadian operations with Swiss-based GAP SA Grains and Produits in Winnipeg. He pegged canola’s short-term range between $450 […] Read more
ICE weekly outlook: Canola treads water looking for direction
CNS Canada — ICE Futures Canada canola contracts continue to chop around in a narrow range these days, as the trade waits for the market to break one way or another. Canada and China recently agreed on rules over dockage that will see shipments of canola accepted at Chinese ports as long as they don’t […] Read more
ICE weekly outlook: Canola crop size watched closely
CNS Canada — ICE Futures Canada canola contracts moved higher during the week ended Wednesday, although prices remain rangebound overall as market participants continue to try and get a better handle on the size of this year’s Canadian crop. While seasonal harvest pressure may be tempering the upside potential, that selling has not been as […] Read more
ICE weekly outlook: Export uncertainty dogs canola
CNS Canada — Canola futures don’t appear ready to climb drastically higher anytime soon as uncertainty over Chinese buying weighs on the market, according to a Winnipeg trader and analyst. The recent grain stocks report compiled by Statistics Canada has become a source of pressure for canola, said Ken Ball of PI Financial. StatsCan’s report […] Read more
ICE weekly outlook: Stocks add softer undertone to market
CNS Canada –– A stocks report from Statistics Canada has changed the dynamic of the canola market, one analyst says, though prices are not expected to plummet. Statistics Canada estimates canola stocks at 2.016 million tonnes as of July 31. The government agency also upwardly revised year-ago production numbers. “It causes a fairly significant shift […] Read more
ICE weekly outlook: Canola sees ‘bump in a bear market’
CNS Canada — News that China would delay its implementation of stricter dockage restrictions on Canadian canola shipments gave ICE Futures Canada contracts a boost on Wednesday, but values are still trending lower overall. “It’s a bump in a bear market,” said analyst Errol Anderson of Pro Market Communications in Calgary, on the initial reaction […] Read more
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