CNS Canada — ICE Futures Canada canola contracts climbed higher during the week ended Wednesday, following gains in the U.S. soy market. The dominant November canola contract posted a gain of $28.70 per tonne. That lifted it above major resistance to settle at $510.80. Prices were also boosted by concerns that rising temperatures in Western […] Read more
Tag Archives canola markets — page 9
ICE weekly outlook: Canola market at mercy of weather
ICE weekly outlook: New-crop uncertainty supports canola
CNS Canada — ICE Futures Canada canola contracts moved higher during the week ended Wednesday, despite a softer tone in the Chicago soy market, as tight old-crop supplies and chart-based buying supported the Canadian oilseed. Statistics Canada releases its updated acreage estimates on Thursday, and any surprises in the data could provide some nearby direction […] Read more
ICE weekly outlook: Weather issues, tight stocks lift canola
CNS Canada –– The ICE Futures Canada canola market lost ground during the week ended Wednesday, pushed down by losses in the U.S. soy complex. A corruption scandal in Brazil sparked a steep selloff in soybeans during last Thursday’s session, which affected oilseeds around the world, including canola. Canola’s dominant July contract lost $4 during […] Read more
ICE weekly outlook: Weather to spark ‘tug-of-war’ in canola
CNS Canada — ICE Futures Canada canola traders are keenly watching Prairie weather, with variability expected to keep the market choppy in the near term, one analyst says. “There’s a little tug-of-war, back and forth; traders watch as every cloud goes across the Prairies,” said Keith Ferley, commodity futures advisor at RBC Dominion Securities in […] Read more
ICE weekly outlook: Tight supplies keep canola supported
CNS Canada — ICE Futures Canada canola contracts were up and down during the week ended Wednesday, although the nearby bias could still be pointed higher, according to a market analyst. Statistics Canada is forecasting record canola seedings in 2017 of 22.4 million acres, but Wayne Palmer of Agri-Trend Marketing in Winnipeg said actual seeded […] Read more
ICE weekly outlook: Rising canola watching weather
CNS Canada –– ICE Futures Canada canola contracts moved higher during the week ended Wednesday, as weather concerns mounted across the Canadian Prairies. While it’s still early in the Canadian planting season, persistent cool and wet conditions in many areas could lead to delays, said Mike Jubinville of ProFarmer Canada. Uncertainty over how much canola […] Read more
ICE weekly outlook: More gains likely for rising canola
CNS Canada — ICE Futures Canada canola advanced sharply on the week and has room to strengthen further, though resistance is on the horizon. Canola far outpaced Chicago Board of Trade (CBOT) soybeans in the week ending Wednesday, as the market gathered independent strength. Since last week, July canola advanced about $18 per tonne, closing […] Read more
ICE weekly outlook: Canola looks for support from new crop
CNS Canada — ICE Futures Canada canola contracts finished lower during the week ended Wednesday but attention in the market is turning to the new crop — and to North American acreage expectations. During the week, the dominant May canola contract fell $9.20, from $510.80 per tonne to $501.60. Large funds have now flipped to […] Read more
ICE weekly outlook: Canola pointed lower
CNS Canada — ICE Futures Canada canola contracts saw a bit of a corrective bounce on Wednesday but their overall trend remains pointed lower, with the winter highs possibly in for now, according to an analyst. “The technical and the fundamentals are pointing down,” said Errol Anderson of Pro Market Communications in Calgary, pointing to […] Read more
ICE weekly outlook: Weather trumps Trump on canola
CNS Canada — ICE Futures Canada canola contracts posted substantial gains during the week ended Wednesday, taking strength from a rally in the soy complex. Both front-end contracts rose $17 on the week, with the March contract jumping from $498 at its Jan. 11 close to settle at $515 a week later. Weather concerns in […] Read more
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