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Tag Archives canola futures — page 8

ICE November 2020 canola with 20-, 50- and 200-day moving averages. (Barchart)
Crops, Markets

ICE weekly outlook: Canola nears resistance

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MarketsFarm — ICE Futures canola contracts hit their strongest levels in three months during the first week of July, but appear to be running into resistance from a chart standpoint. The November contract hit an intersession high of $482 per tonne on Wednesday, but settled below the $480 mark. “You can’t discount at least the […] Read more
ICE Futures March 2020 canola with 20- and 50-day moving averages. (Barchart)
Crops, Markets

High stocks-to-use ratio weighs on canola

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MarketsFarm — The Canadian canola stocks-to-use ratio was over 20 per cent at the end of 2019 — significantly higher than the five-year average of 13.4 per cent. “That’s part of the reason why we’re seeing downward pressure on canola prices,” Craig Klemmer, chief agriculture economist for Farm Credit Canada (FCC), explained during his presentation […] Read more
ICE March 2020 canola with Bollinger (20,2) bands. (Barchart)
Crops, Markets

ICE weekly outlook: Canola off highs, rangebound

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MarketsFarm — ICE Futures canola contracts tested long-time chart resistance during the week ended Wednesday, but failed to break higher and retreated to hold rangebound overall. The Phase One trade deal signed Wednesday between the U.S. and China failed to give the grain and oilseed markets a boost, as the vague details of the actual […] Read more
(File photo by Dave Bedard)
Crops, Markets

Fund short-covering continues in canola, soybeans

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MarketsFarm — Fund traders continued to exit short positions in soybeans and canola futures during the first week of 2020, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). The net managed money short position in ICE Futures canola came in Tuesday at 33,243 contracts, a decrease […] Read more
ICE Futures March 2020 canola with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets

ICE weekly outlook: Canola values could fall further

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MarketsFarm — Although canola has continued to be rangebound, one analyst believes prices are due for a downward shift toward the low end of the spectrum. “Gravity is going to pull it back down to the low end of the range, and $10-$15 [per tonne] wouldn’t be surprising,” said David Derwin, an analyst with PI […] Read more
ICE Futures January 2020 canola with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets

ICE weekly outlook: Canola steady, awaits news

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MarketsFarm — ICE Futures canola contracts moved lower during the week ended Wednesday, but remain rangebound overall awaiting some fresh market-moving news. Some direction could come from the U.S. soybean complex, as the ongoing back-and-forth of trade talks with China could see some actual movement ahead of a Dec. 15 deadline that will see the […] Read more

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