The business of trading and clearing canola futures is poised to leave Winnipeg for New York City this summer. Atlanta-based Intercontinental Exchange (ICE), the operator of canola exchange ICE Futures Canada, announced Tuesday it will be “transitioning” the trading and clearing of canola contracts to New York-based ICE Futures U.S. and ICE Clear U.S. ICE […] Read more
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ICE to move canola trade to U.S. exchange
ICE weekly outlook: Canola ‘stuck in neutral’
CNS Canada — ICE Futures Canada canola contracts are lacking any clear direction at the beginning of May, and may stay rangebound through the seeding period. “Canola is stuck in neutral,” said Wayne Palmer, senior market analyst with Agri-Trend Marketing. “We’re at that stage where it’s rangebound, waiting for news, and watching the weather across […] Read more
ICE weekly outlook: Canola rides soymeal wave higher
CNS Canada — ICE Futures Canada canola contracts rode the coattails of a surging soymeal market during the week ended Wednesday, but one big rain in Argentina could halt the rally in its tracks. “If there’s more rain in the forecast we will lose ground,” said Mike Jubinville of ProFarmer Canada. “The attitude is the […] Read more
ICE weekly outlook: Rain in Argentina could provide direction
CNS Canada — ICE Futures Canada canola contracts finally broke through the psychologically-important $500 per tonne mark during the week ended Wednesday. That could be a fleeting achievement, however, depending on the chances for rainfall in Argentina and the next U.S. Department of Agriculture report. “If rain comes, soybeans could go down to US$9.60 a […] Read more
ICE weekly outlook: Sideways canola seeks spark
CNS Canada — ICE Futures Canada canola contracts remain stuck within a sideways trading range awaiting a spark that would push values one way or the other. “We could have had this conversation two months ago… canola is refusing to budge from a range,” analyst Mike Jubinville of ProFarmer Canada said of the lack of […] Read more
ICE weekly outlook: Canola creeps toward $500
CNS Canada — ICE Futures Canada canola contracts are showing signs of wanting to climb higher due to recent moves in soybean oil and the Canadian dollar. The front-month March contract is still below the benchmark $500 per tonne mark but is starting to creep toward it. Some of the movement can likely be traced […] Read more
ICE weekly outlook: Sideways canola looks for direction
CNS Canada — ICE Futures Canada canola contracts remain stuck in a sideways trading pattern, with little hint of which way values will eventually break. Canola “is getting tugged from different sources,” said Ken Ball of PI Financial in Winnipeg, adding that “it could go up or down $5 depending on what happens around it.” […] Read more
ICE weekly outlook: Canola trending higher
CNS Canada — ICE Futures Canada canola contracts continued their steady upward trend during the week ended Wednesday, posting their highest daily settlements since July. Continued strength is possible, but those gains will depend on activity in the Canadian dollar and the U.S. soybean market. “There’s a firm tone in canola,” said Errol Anderson of […] Read more
Canadian barley, wheat futures fade away
CNS Canada — “If you build it, they won’t always come” turned out to be the case with ICE Futures Canada’s grain contracts, as they were finally delisted Thursday after years of little to no activity. Milling wheat and durum futures were introduced by ICE Futures Canada in 2012 in response to the end of […] Read more
ICE weekly outlook: Canola enjoying broad-based support
CNS Canada –– ICE Futures Canada canola contracts are benefiting from developments down south. The U.S. Commerce Department on Monday imposed antidumping duties on biodiesel imported from Argentina and Indonesia. The department claimed the fuel was being sold at prices below market value in the U.S. The move was enough to lift soyoil in the […] Read more
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