CNS Canada — As canola heads towards harvest some bearish headwinds have popped up that are keeping the front-month contract below the $500 mark. “There’s been a big reversal since the (U.S. Department of Agriculture) report,” said Keith Ferley of RBC Dominion Securities in Winnipeg. USDA late last week projected the U.S. soybean crop at […] Read more
Tag Archives canola prices — page 9
ICE weekly outlook: Canola sinks below $500
ICE weekly outlook: Canola headed down, looking for spark
CNS Canada — ICE Futures Canada canola contracts were up and down during the week ended Wednesday, with the bias turning lower as losses in outside markets weighed on values. Canola lost $10 in two days, with a slide in soyoil and crude oil futures behind some of the spillover weakness. “We’re not getting any […] Read more
ICE weekly outlook: Uncertainty to underpin canola in short term
CNS Canada — ICE Futures Canada canola futures advanced on the week and are likely to keep near-term support, one analyst says, as traders mull over the question: Just how much canola is out there? “There’s still a lot of uncertainty about canola numbers; we’re still not certain about how big the last crop was; […] Read more
ICE weekly outlook: More losses likely for bearish canola
CNS Canada — ICE Futures Canada canola contracts posted large losses during the week ended Wednesday, and could be headed even lower, as bearish technicals and weakness in global economic markets outweigh supportive fundamentals. “We’re going into a seasonally slower demand period,” said Errol Anderson of ProMarket Communications. A downgrade of China’s credit by Moody’s […] 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: Canola waits for stocks report
CNS Canada — ICE Futures Canada canola contracts continue to chop around in the lead-up to the release of a major report. Statistics Canada is due to release its estimates for the country’s canola stocks (as of March 31) on Friday. The dominant July contract eked out a minor gain of $1.30 per tonne during […] 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
Canola’s rally pushes cash prices higher
CNS Canada — Canola cash prices notched gains with recent news out of the U.S., but the market remains rangebound, and near-term support is likely to run dry. Canola cash prices were supported by a two-day rally in the futures, said Mike Jubinville of ProFarmer Canada, but crushers have widened out the basis for nearby […] Read more
ICE weekly outlook: Canola sturdy, but watching beans
CNS Canada — ICE Futures Canada canola contracts drifted lower during the week ended Wednesday, but are still holding up rather well compared to the U.S. soy complex. “Canola is very sturdy,” said Ken Ball of PI Financial in Winnipeg, noting the Canadian oilseed has gained about $55 per tonne relative to the U.S. markets […] Read more
Cyber-Savvy Farmer
