Fund traders were busy liquidating long positions and putting on new bearish bets in canola as tariff uncertainty from both China and the United States weighed on the futures in early March.
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Speculators bail out of canola long positions
Tariff uncertainty tied to liquidation
ICE canola weekly outlook: Market in search of demand
Farmers holding large amounts of unpriced canola waiting for future to move upward, analyst says
A modest attempt at correcting higher was met by stiff resistance in the ICE Futures canola market, with a general downtrend still intact as the futures work to uncover some demand.
ICE weekly outlook: Canola likely to keep sliding back
With larger crop, trade likely to be overwhelmed by deliveries, analyst says
There is a rather significant bearish outlook for canola for the rest of December, according to Jerry Klassen of Resilient Commodity Analysis. He said a large part of this was generated by the Statistics Canada production report released on Dec. 4.
ICE weekly outlook: Canola prices could rebound
'There's nothing all that exciting to look at'
MarketsFarm — Winnipeg-based trader Ken Ball from PI Financial is cautiously optimistic that canola prices can rebound in the short term. The January canola contract closed at $702.30 per tonne on Wednesday a weekly loss of $7.40. The contract fell below the $700 level on U.S. Thanksgiving on Nov. 23, a day with little volume. […] Read more
Speculators buy back bearish canola bets in latest report
Funds reduce net long in soybeans
MarketsFarm — Fund traders were actively covering bearish bets in canola during the week ended Nov. 21, buying back some previously placed short positions, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). The report was delayed due to the U.S. Thanksgiving holiday. As of Nov. 21, 2023, […] Read more
ICE weekly outlook: Purely technical canola market trending up
Activity expected thin until next week
MarketsFarm — The ICE Futures canola market moved within a wide range during the week ended Wednesday, hitting some of its best levels in a month before running into resistance at the highs. With traders in the United States moving to the sidelines for the U.S. Thanksgiving holiday, activity should be thin and choppy until […] Read more
Large speculative short position in canola dips slightly
Net long in CBOT soybeans increases
MarketsFarm — The large managed money short position in canola futures dipped slightly during the week ended Nov. 14, as speculators bought back some of their bearish bets, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As of Nov. 14, the net managed money short position in […] Read more
ICE weekly outlook: Funds in control of market – for now
Spec funds were keeping a close eye on the weather in Brazil says analyst
With a record short position in canola, managed money is largely in control of the market according to analyst Wayne Palmer of Exceed Grain in Winnipeg.
ICE weekly outlook: Soy complex supporting canola
'Canola has been largely pulled up'
MarketsFarm — Amid falling crude oil prices, canola prices are staying strong, largely due to the Chicago soy complex, according to a Calgary analyst. Errol Anderson of ProMarket Communications has been impressed with canola’s recent rise. The January contract on ICE Futures was as low at $672 per tonne on Nov. 2 before rising to […] Read more
Net speculative short position in canola tops 100,000 contracts
Net long increases in CBOT soy
MarketsFarm — Speculative fund traders continued to add to their large short positions in canola futures during the last week of October, taking the net managed money short position over 100,000 contracts for the first time on record, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As […] Read more