CNS Canada — The ICE Futures Canada canola market was up sharply during the week ended Wednesday, following a rally in outside oilseed futures. Chicago soyoil futures led the way higher for oilseeds during the week, with some rumours of fresh export demand for U.S. soyoil floating around. Canola traders, however, are likely to shift […] Read more
Tag Archives canola futures — page 35
ICE weekly outlook: Canola to divorce from CBOT soy complex
ICE weekly outlook: Canola drifts downward in rangebound trading
CNS Canada –– ICE Futures Canada canola contracts chopped around in sideways trading during the week ended Wednesday, before settling slightly lower. Activity was volatile with values generally staying within a $10 range, analysts said. Gains in the U.S. soy complex were responsible for much of the support canola saw over the five-day period, along […] Read more
ICE weekly outlook: Canola rangebound, watching acreage
CNS Canada — ICE Futures Canada canola contracts moved lower during the week ended Wednesday, but finished the week well off of their nearby lows as some support was uncovered to the downside. Barring a surprise in Statistics Canada’s planting intentions report, due out Thursday, canola futures are looking rangebound for the time being. Fund […] Read more
ICE weekly outlook: Canola treads water waiting for news
CNS Canada — ICE Futures Canada canola futures moved slightly higher during the week ended Wednesday, as values stayed mostly rangebound amid a dearth of fresh fundamental news. “The open interest is going down because the funds have been liquidating their positions; down under 10,000 contracts,” said analyst Wayne Palmer of Agri-Trend Marketing in Winnipeg,. […] Read more
ICE weekly outlook: Rangebound canola could go either way
CNS Canada –– ICE Futures Canada canola futures moved lower during the week ended Wednesday, but remain stuck in the same wide range they’ve been in for the past month. The technical trend is starting to point lower, but the possibility of a seasonal bounce is also still there. From a chart standpoint, both the […] Read more
ICE weekly outlook: Canola moving into choppy spring pattern
CNS Canada –– The ICE Futures Canada canola market saw some large price swings during the week ended Wednesday, but ended relatively steady compared to prices seven days earlier. The market is starting to move into a nervous spring trading pattern, which kept prices relatively rangebound and should continue for the next three to four […] Read more
ICE weekly outlook: Canola rangebound, for now
CNS Canada –– ICE Futures Canada canola futures moved lower during the week ended Wednesday, but managed to find some support to the downside and are looking rangebound overall. Canola is still looking firm relative to Chicago (CBOT) soybeans, said broker Ken Ball of PI Financial in Winnipeg. While solid commercial demand was one supportive […] Read more
Long liquidation looms in canola futures
CNS Canada –– Fund traders are still holding large long positions in canola, but could be poised to start liquidating some of those positions as prices near key chart support. Funds are sitting on a long position in “the mid-40,000 area”, according to a canola broker. “Further technical weakness would likely bring in some long […] Read more
ICE weekly outlook: Canola’s trading range moving higher
CNS Canada — The ICE Futures Canada canola market was stronger during the week ended Wednesday, and is expected to stay in a higher trading range going forward. “For the front month May, C$448 per tonne is the support area. And right now we’re more than $20 above that,” said Errol Anderson of ProMarket Communications […] Read more
ICE weekly outlook: Canola testing major support
CNS Canada — ICE Futures Canada canola contracts were lower for the week ended Wednesday, as continued losses in soybeans, and technical factors, weighed on canola values. The spillover weakness from soybeans was pronounced, according to analyst Wayne Palmer of Agri-Trend Marketing in Winnipeg, who noted beans were 40 cents off their nearby highs. The […] Read more
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