CNS Canada — ICE Futures Canada canola contracts climbed to their highest levels in two years during the week ended Wednesday, with mounting weather concerns across the Prairies the key driver in the market. “This thing will keep going until we get some rain,” said Jerry Klassen, manager of GAP S.A. Grains and Produits in […] Read more
Tag Archives canola futures — page 34
ICE weekly outlook: Weather key to canola market
ICE weekly outlook: New-crop canola to break $500
CNS Canada — The ICE Futures Canada canola market moved higher during the week ended Wednesday, rebounding after the November contract hit support levels earlier on Monday. With recent drought and frost in Western Canada, canola ending stocks are expected to be very tight at the end of 2015-16, which is supporting prices and could […] Read more
Canola crush margins deteriorating
CNS Canada — Canola crush margins continue to deteriorate in Canada, and will likely get worse before they get better. Canola margins hit some of their worst levels “in three to five years” during Monday’s trading session, according to a trader. While the margins were off those lows by the close, he said the longer-term […] Read more
ICE weekly outlook: Canola mixed after wild week
CNS Canada — ICE Futures Canada canola contracts ended narrowly mixed for the week ended Wednesday, but not before shooting above the $500 per tonne mark amid concerns over persistent dryness across a large portion of Western Canada. “If we don’t get those rains or if they’re disappointing then I think this thing is going […] Read more
ICE weekly outlook: Canola needs more fuel to keep rising
CNS Canada –– ICE Futures Canada canola contracts climbed sharply higher during the week ended Wednesday, but additional gains will need some more bullish news as the market takes a breather and consolidates. A combination of a rally in CBOT soyoil, a weaker Canadian dollar, fund buying and a weekend frost all contributed to the […] Read more
Prairie canola basis levels soften as futures rally
CNS Canada — The ICE Futures Canada canola market has moved sharply higher recently, but the cash market hasn’t followed along, as basis levels have generally seen a softening trend. “Generally we’ve been seeing companies widen their basis levels out a bit. Some have held them steady, some have just crept them out a little […] Read more
Light rain on way for Prairie crops, but ‘soaker’ needed
Winnipeg | Reuters –– Rain looks to splash parched farms on Western Canada’s Prairies over the next week as concerns mount that soil is too dry for canola to grow normally. Offsetting the concern somewhat is the region’s brisk pace of planting, which may wrap up by the weekend. The southern Prairies will be lucky […] Read more
ICE weekly outlook: Weather to make or break canola market
CNS Canada –– ICE Futures Canada’s canola futures moved independently higher during the week ended Wednesday, ignoring weakness in the Chicago soybean market. The generally tight supply situation for canola, a weak Canadian dollar and worries about dry conditions damaging some crops in Western Canada underpinned canola. Dry conditions in parts of the western Prairies […] Read more
ICE weekly outlook: Canola bias points higher
CNS Canada –– ICE Futures Canada canola contracts stayed mostly rangebound during the week ended Wednesday, before finishing $4 per tonne higher. “Funds are putting a long position on,” said Wayne Palmer of Agri-Trend Marketing in Winnipeg. The most-frequently-traded July contract tested the $460 per tonne mark before backing off at the end of the […] Read more
ICE weekly outlook: Canola watching weather
CNS Canada –– ICE Futures Canada canola contracts held rangebound during the week ended Wednesday, with small losses in the front months and gains in the more deferred positions. While activity remains somewhat subdued for the time being, any future moves will be highly dependent on weather conditions heading into the growing season. “The markets […] Read more
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