CNS Canada –– ICE Futures Canada canola contracts held rangebound during the week ended Wednesday, but could be due for a move higher if the market follows its typical seasonal patterns. The November canola contract has trended sideways over the past month, with prices ranging from $460 to $480 per tonne. That price range is […] Read more
Tag Archives canola futures — page 32
ICE weekly outlook: Bounce possible for rangebound canola
ICE weekly outlook: Canola can’t crack resistance
CNS Canada — ICE Futures Canada canola futures ended slightly higher for the week ended Wednesday. All of the contracts eked out minor gains, but it was largely seen as a frustrating session for the near-term November contract, which again failed to settle above its technical resistance point of $480 per tonne. Funds largely pushed […] Read more
Weekly canola crush hits new record
CNS Canada –– Canola oil is flowing freely in Western Canada, with domestic processors crushing more canola in a single week than ever before, according to the latest data from the Canadian Oilseed Processors Association (COPA). The weekly canola crush hit 184,493 tonnes during the week ended Wednesday, which is more than 10,000 tonnes above […] Read more
ICE weekly outlook: Canola poised to test resistance
CNS Canada — ICE Futures Canada canola futures tried and failed to break higher on numerous occasions over the past two weeks, but could be poised to finally see a bounce, according to a market analyst. A rebound in palm oil is supporting soyoil, which in turn is supportive for canola, said Errol Anderson of […] Read more
Weekly canola crush hits best level in over two months
CNS Canada –– Canada’s domestic canola processors are getting busier, with the latest crush data showing the most active week in two-and-a-half months. Capacity utilization during the week ended Wednesday climbed to 82.8 per cent, which compares with only 66.9 per cent the previous week, according to the latest report from the Canadian Oilseed Processors […] Read more
ICE weekly outlook: Canola climbs despite harvest pressure
CNS Canada –– ICE Futures Canada canola contracts finished higher for the week ended Wednesday, posting gains of $9-$10 per tonne despite mounting harvest pressure and large world supplies of vegetable oil. The slumping Canadian dollar, which momentarily reached its lowest point in 11 years during the session, has been a big reason behind canola’s […] Read more
Canola crush margins improve
CNS Canada –– Canola crush margins have shown some improvement over the past week, despite rising futures prices, as strength in product values and a weakening Canadian dollar should be boosting the profitability of the domestic crush sector. Crush margins provide an indication of the profitability of the product values relative to the seed cost […] Read more
ICE weekly outlook: Canola looking overpriced
CNS Canada –– ICE Futures Canada canola contracts moved lower in sympathy with CBOT soybeans during the week ended Wednesday, and could have more room to the downside as the Canadian oilseed remains overpriced compared to its U.S. counterpart. The canola premium compared to soybeans is the same now as earlier in the summer, when […] Read more
Canola exports seen moving slower than expected
CNS Canada –– Sales of canola out of the world’s top canola-exporting country are moving slower than merchants had anticipated — and market watchers attribute Canada’s sluggish pace to high prices and low global demand. “The export story right now is quiet,” said Peter Schutz, canola merchant at Richardson International, attributing it to a lack […] Read more
ICE weekly outlook: Growers hanging onto supplies
CNS Canada — ICE Futures Canada canola contracts chalked up gains for the week ended Wednesday, as farmers hung onto supplies in the quest to draw out better prices. The January canola contract was the most consistent mover, finishing higher for the seventh consecutive session on Wednesday. Either “producers are not selling it or the […] Read more
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