MarketsFarm — ICE Futures canola contracts moved lower during the week ended Wednesday and may have more room to the downside, despite persistent harvest delays across Western Canada. “Overall, we’re still rangebound, but we’re going to the lower part of the trading window,” said analyst Errol Anderson of Pro Market Communications in Calgary. “Canola is […] Read more
Tag Archives Canola — page 73

ICE weekly outlook: Rangebound canola vulnerable to losses

Canola crush margins double year-ago level
MarketsFarm — Canola crush margins have shown considerable improvement in recent weeks — a sign the commodity is looking cheap compared to its product values. As of Monday, the Canola Board Crush Margin calculated by ICE Futures U.S. was about $100 above the November contract — a figure up by $10 over the past month […] Read more

Canadian canola deliveries hit weekly record
MarketsFarm — Canadian farmers made record deliveries of canola into the commercial pipeline during the second week of October, according to the latest Canadian Grain Commission data. Wet weather, including heavy snow in some regions, continued to keep farmers off of their fields across much of Western Canada, but producers were actively delivering canola and […] Read more

ICE weekly outlook: Canola values stay rangebound
MarketsFarm — One canola trader wouldn’t go so far as to calling the canola market lifeless, but it has remained rangebound for most of the week. That’s mainly due to pressure from harvest activity, which has carried on at an impressive pace on the Canadian Prairies despite being mired with difficult weather conditions. “I’ve talked […] Read more

Most oilseed estimates down in USDA’s October outlook
MarketsFarm — The U.S. Department of Agriculture (USDA) released its monthly oil crops outlook on Tuesday featuring reductions in global rapeseed and sunflower production and U.S. soybeans. USDA estimated global rapeseed production at 68.6 million tonnes, a decline of one million, with the lion’s share of the losses in Canada. Canadian production for 2019-20 was […] Read more

Fund traders back away from bearish bets in grains, oilseeds
MarketsFarm — Commodity fund traders were busy covering short positions in corn and canola during the week ended Oct. 8, and even moved to a small net long in soybeans, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). The net managed money short position in ICE […] Read more

ICE weekly outlook: More than weather behind canola uptrend
MarketsFarm — Canola’s sharp rise over the last week can be attributed not only to poor weather on the Prairies, but to other factors as well, according to MarketsFarm Pro analyst Mike Jubinville. For seven straight trading sessions, canola bids have climbed, from $445.60 per tonne at the close of trading on Sept. 27 to […] Read more

Canola breaks out of sideways range, uptrend slowing
MarketsFarm — ICE Futures canola broke out of a long standing sideways trading range during the first week of October, but could be running out of steam to the upside from a technical standpoint. The nearby November contract had held within a $15 range between $440 and $455 per tonne all summer, but jumped out […] Read more

Funds hold steady in canola
MarketsFarm — Fund traders in the U.S. were busy covering short positions and putting on fresh longs in the soybean and corn markets during the week ended Oct. 1. Meanwhile, the net fund short position in canola held relatively steady, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading […] Read more

Canola shipments boost Thunder Bay port activity
MarketsFarm — Cargo movement through the Port of Thunder Bay is running ahead of the previous year’s pace, with some of the extra movement tied to increased canola exports to Europe, according to the latest data from the port authority. Total cargo movement in September of 1.1 million tonnes compares with the 919,386 tonnes reported […] Read more