GFM Network News

ICE canola futures up as traders covering short positions

By Glen Hallick, Commodity News Service Canada WINNIPEG, Feb. 21 (CNS Canada) – ICE Futures canola contracts were up Thursday morning as traders were looking to cover their short positions. This comes the day before the United States Department of Agriculture (USDA) releases its export report. Canola futures Thursday morning gained about C$3 to C$4 […] Read more

Canadian dollar and business outlook

By Commodity News Service Canada WINNIPEG, Feb. 21 (CNS Canada) – The Canadian dollar was holding steady Thursday morning, seeing some consolidation after Wednesday’s gains. At 8:61 CST Thursday morning the Canadian dollar was at US$0.7589 or C$1.3177 which compares with Wednesday’s North American close of US$0.7594 or C$1.3169. Canadian wholesale sales increased by 0.3 […] Read more

Global Markets: EU commits to climate spending

By Commodity News Service Canada WINNIPEG, Feb. 21 (CNS Canada) – The following is a glance at the news moving markets in Canada and globally. – A massive fire in Dhaka, the capital of Bangladesh, killed at least 81 people, according to reports out of the country. Firefighters battled the blaze in the centuries-old Chawkbazar […] Read more

ICE weekly outlook: Oversold canola still fundamentally bearish

ICE canola futures are starting to look oversold after falling contract lows during the week ended Wednesday. While a short-term technical correction is possible, the underlying fundamentals remain bearish. “Canola might be a little bit short-term oversold,” said Ken Ball of PI Financial in Winnipeg. Signs that exports were perking up could also be supportive, […] Read more

North American Grain/Oilseed Review: Canola continues lower, soybeans higher

By Phil Franz-Warkentin, Commodity News Service Canada Winnipeg, Feb. 20 (CNS Canada) – ICE Futures canola contracts continued their downward slide on Wednesday, hitting fresh contract lows for the second-straight session. Speculators were noted sellers as bearish technical signals kept the bias pointed lower. Strength in the Canadian dollar, a lack of significant end user […] Read more