CNS Canada — ICE Futures Canada canola markets were mixed in the week ended Wednesday, and as grower interest in selling ramps up, prices are likely to edge down. “Canola has been pushed up to some moderately high levels, and it’s been justified in being up there,” said Ken Ball of PI Financial Corp. “But […] Read more
Tag Archives canola markets — page 12
ICE weekly outlook: Canola prices winding down
ICE weekly outlook: Canola looks set to stay above $500
CNS Canada — ICE Futures Canada canola contracts don’t appear to be in much danger of falling below the $500 per tonne level anytime soon. Both front-month contracts spent much of the week ended Wednesday hanging around the $520 mark. Surging action from the U.S. soy complex has kept canola supported, even on days when […] Read more
ICE weekly outlook: Canola in need of outside catalyst
CNS Canada — Canola contracts on the ICE Futures Canada platform held within a rather narrow range during the week ended Wednesday, but moved higher overall. However, further gains will take an outside catalyst, according to a market analyst. “There’s a very firm tone to the market,” said Errol Anderson of ProMarket Communications. Fund traders, […] Read more
ICE weekly outlook: Canola’s fate rests on fund buying
CNS Canada — ICE Futures Canada canola contracts moved higher during the week ended Wednesday, following strength in CBOT (Chicago Board of Trade) soybeans, but one analyst says it could be hard for the market to hold onto those advances. CBOT soybeans rallied Tuesday after the U.S. Department of Agriculture released bullish supply and demand […] Read more
ICE weekly outlook: Canola hits $500, watching volumes
CNS Canada — ICE Futures Canada canola contracts seem to have found a new range during the week ended Wednesday, with both the July and November contracts lifting around the $500 per tonne mark. Weakness in the Canadian currency and a dry weather premium in Western Canada were behind a lot of the support. As […] Read more
ICE weekly outlook: Still room higher for canola
CNS Canada –– ICE Futures Canada canola contracts moved higher during the week ended Wednesday, with the biggest gains in the front months. While the market ran into some resistance on Wednesday, there is still more room to the upside from both a chart and fundamental perspective. “We’re still in an upward trend; we haven’t […] Read more
ICE weekly outlook: Canola watching acreage numbers
CNS Canada — ICE Futures Canada canola contracts rose during the week ended Wednesday, as strong advances in U.S. soy overpowered resistance cast on the market by the stronger Canadian dollar. The canola market “was able to get some support from the soy action but the Canadian dollar has taken most of it away… it’s […] Read more
ICE weekly outlook: Canola wary of soybean rally
CNS Canada — ICE Futures Canada canola contracts moved lower overall during the week ended Wednesday, as the bearish influence of the rising Canadian dollar countered any spillover support from gains in CBOT soybeans. CBOT soybeans climbed sharply over the course of the week. However, the Canadian dollar has also posted solid gains over the […] Read more
ICE weekly outlook: Canola watching USDA report
CNS Canada — ICE Futures Canada canola contracts advanced during the week ended Wednesday, as weakness in the Canadian dollar and solid support from vegetable oil pushed prices higher. The front-month May contract started the period below technical resistance but soon climbed above $470 per tonne and at one point appeared ready to test the […] Read more
ICE weekly outlook: Canola turning sideways
CNS Canada –– ICE Futures Canada canola contracts hit some of their best levels in a month during the week ended Wednesday, but appear to have run into resistance from a chart standpoint as the near-term outlook shifts sideways. The May contract hit a session high of $476 per tonne on Tuesday, but was unable […] Read more
Cyber-Savvy Farmer
