MarketsFarm — The ICE Futures canola market traded within a certain range for the week ended Wednesday, but one trader believes that wide crush margins will take prices over the psychological resistance level. Since nearly hitting the $900 per tonne mark on Nov. 15, the January canola contract declined for eight straight sessions before going […] Read more
Tag Archives Canola — page 31
ICE weekly outlook: Canola still rangebound but upside possible
Crush margins expected to stay high for now
Opinions divided ahead of StatCan production report
Agency's previous estimates model-based
MarketsFarm — Ahead of the crop production report from Statistics Canada (StatCan) due out Friday, trade expectations are above and below what the federal agency estimated in September. In August, and in September, StatCan issued production reports based on a satellite model and without any input from farmers filling out surveys. That has caused some […] Read more
Fund position back to net short in canola
MGEX wheat also shifts to net short: CFTC
MarketsFarm — Heavy long-liquidation in ICE Futures canola saw the managed money speculative position flip back to a net short after a brief flirtation with a net long, according to the latest Commitment of Traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). The weekly report was delayed one day due to last […] Read more
Canadian grain deliveries during October mostly higher
Among grains, flax sees largest percentage decline
MarketsFarm — Deliveries of major grains in Canada during October witnessed several gains compared to a year ago, according to the latest report from Statistics Canada (StatCan) released Thursday. All grain deliveries for October 2022 exceeded 5.43 million tonnes for a 19.3 per cent increase from the previous October. During last month, total wheat deliveries […] Read more
ICE weekly outlook: Canola’s sideways market nears low end of range
January down last six sessions
MarketsFarm — ICE Futures canola contracts slid lower during the week ended Wednesday but remain stuck in a sideways trading range overall. The January contract has held within a range from $800 to $900 per tonne for the past five months, with the market still well within that range despite losing over $50 per tonne […] Read more
ICE weekly outlook: Premium showing in front-month canola
'Surge' of farmer selling expected in January
MarketsFarm — The ICE Futures canola market held rangebound during the week ended Nov. 16, with the widening premium of the nearby January contract over the March futures seen as a sign of good nearby demand. ICE January canola settled Wednesday at $882.40 per tonne, a $10.50 per tonne premium over the March contract. That […] Read more
Fund position switches to net long in canola
Net long in CBOT corn decreases on the week
MarketsFarm — The overall speculative position in the ICE Futures canola market swung from net short to net long during the first week of November, marking the first time speculators were holding more longs than shorts in four months. That’s according to the latest Commitment of Traders (CoT) report compiled by the U.S. Commodity Futures […] Read more
ICE weekly outlook: Trader sees canola topping $900 mark soon
Crush margins at 'very, very extreme levels'
MarketsFarm — Despite surpassing the $900 per tonne mark at times during the week ended Wednesday, ICE Futures’ January canola contract never settled above that psychological level. Rising prices prior to the weekend later gave away to selling pressure after the weekend due to a correction in vegetable oil prices, according to broker Ken Ball […] Read more
Fund short position in canola dips to four-month low
Net long increases in CBOT soybeans
MarketsFarm — Speculators were busy covering short positions and putting on some fresh longs in the canola market during the week ended Nov. 1. That lowered the net short position in the ICE Futures canola market to its smallest level since the beginning of July, according to the latest Commitment of Traders (CoT) report compiled […] Read more
Canadian canola oil content up in 2022: Preliminary CGC data
The average oil content of Canada’s canola crop edged higher in 2022 compared to the previous year, according to preliminary data from the Canadian Grain Commission released Nov. 1. Oil content for number one quality canola across Western Canada ranged from 34.9 to 49.2 per cent, with the average coming in at 42.7 per cent. […] Read more
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