MarketsFarm — ICE Futures canola contracts climbed to their strongest levels in two years during the week ended Wednesday, but could be nearing their highs for the time being as harvest pressure should start weighing on values. “We’re running into the top end on the monthly and weekly charts,” said Jamie Wilton, senior commodity futures […] Read more
Tag Archives Canola — page 58
ICE weekly outlook: Canola futures at two-year highs
Fund long position in canola hits new record
MarketsFarm — Fund traders added to their sizeable long positions in canola during the week ended Tuesday (Sept. 8), hitting the largest net long position in the two years of available data. The latest commitment of traders (CoT) report compiled by the U.S. Commodity Futures Trading Commission (CFTC) showed managed money fund traders were holding […] Read more
Statistics Canada trims wheat production estimate
Lentil crop estimate up from August
MarketsFarm — Canadian farmers grew less wheat in 2020-21 than earlier thought, according to updated production estimates Statistics Canada released Monday. However, the country’s wheat crop would still be the second-largest on record and well above the five-year average. Using yield models based on satellite imagery, total wheat production in the country for 2020-21 is […] Read more
ICE weekly outlook: Canola shows volatility after long weekend
MarketsFarm — Although there remains a lot of canola to be combined, one trader believes most harvest pressure on the market has already passed. “The farmers who wanted to sell off of the combine or shortly after, probably have done so already,” said Jerry Klassen, an independent Winnipeg commodities trader. There will still be some […] Read more
Fund traders add to net long in canola, soybeans
MarketsFarm — Fund traders remain bullish on soybeans and canola, adding to their net long positions in the two oilseeds, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). Managed money fund traders were holding a net long position in ICE Futures canola of 37,682 contracts as […] Read more
StatsCan stocks report shows lower lentils, durum, canola
Lentil supply picture 'extremely tight'
MarketsFarm — Statistics Canada’s stocks of principal field crops report detailed tight ending stocks for lentils durum and canola. As of July 31, lentil stocks totalled just 61,000 tonnes, down by 91.5 per cent from last year. Exports were up by over 30 per cent year-over-year, which accounted for some of the decrease. “It’s an […] Read more
ICE weekly outlook: Rising canola market watches harvest
MarketsFarm — ICE Futures canola contracts remained pointed higher during the week ended Wednesday, hitting some of their best levels in two years. However, its upside may be limited as harvest picks up over the next month. “Canola could go a little higher, but we’re probably pushing upper ranges for now until we have more […] Read more
Wheat crop to be second-largest on record, StatsCan predicts
Canola estimate at lower end of trade predictions
MarketsFarm — Canada’s farmers will have grown their second-largest wheat crop on record in 2020, according to the first production estimates of the year from Statistics Canada, as released Monday. The government agency pegged total wheat production in the country for 2020-21 at 35.74 million tonnes, up 10.5 per cent on the year and second […] Read more
ICE weekly outlook: How long can canola rally last?
MarketsFarm — Canola on ICE Futures has continued to push higher over the last week largely due to the growing strength in soyoil on the Chicago Board of Trade. “We got soyoil at a seven-month high and that’s certainly a supportive factor in continuing to underpin our market,” said Keith Ferley, a trader with RBC […] Read more
Canola crush down, soy crush up, StatsCan reports
MarketsFarm — The amount of canola crushed in July was down compared to June’s crush, while there was an increase in the amount of soybeans crushed, according to Statistics Canada. The federal agency issued its crushing statistics of major oilseeds report on Tuesday. According to the report, 806,868 tonnes of canola were processed in July, […] Read more
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