Reading Time: < 1 minute MarketsFarm — The ICE Futures canola market strengthened during the week ended Wednesday, hitting fresh highs in many contract months. “The trend remains up,” analyst Mike Jubinville of MarketsFarm Pro said. “The price of canola needs to be put at a level that discourages exports, while the domestic crushers actively pursue attaining as much of […] Read more
ICE weekly outlook: Canola’s trend line still pointed higher
Canadian canola oil content well below average
Reading Time: < 1 minute Canada’s hot and dry growing season in 2021 cut into the oil content of the country’s canola crop, with preliminary data pointing to the second-lowest oil content of the past two decades. Preliminary sample data compiled by the Canadian Grain Commission shows average oil content for number one quality canola in 2021/22 at 41.9 per […] Read more
ICE weekly outlook: Crude oil at heart of canola’s fate
Reading Time: 2 minutes MarketsFarm – As gains in global crude oil prices have been largely behind the increases in edible oil values, any losses in crude will lead to declines in the edibles. Such was the case on Nov. 3 when crude oil took a dip, pulling down soyoil on the Chicago Board of Trade (CBOT) as well […] Read more
ICE weekly outlook: Canola speculators running market higher
Reading Time: < 1 minute MarketsFarm – ICE canola futures posted solid gains during the week ended Oct. 27, hitting fresh contract highs in many months as speculators added to their net long positions. “The specs have canola by the throat, and they’ll see how far they can run it,” said Ken Ball of PI Financial in Winnipeg. He said […] Read more
Feds tighten forecast for wheat carryout
Reading Time: 2 minutes MarketsFarm — Canadian wheat carryout for the 2021-22 crop year will be even tighter than earlier forecasts, according to updated supply/demand estimates from Agriculture and Agri-Food Canada (AAFC), released Wednesday. The October report included only minor adjustments for most crops, with the most notable change from September being a 500,000-tonne reduction in projected wheat ending […] Read more
ICE weekly outlook: Canola rally keeps going
Not yet back at $1K, but it's possible
Reading Time: < 1 minute MarketsFarm — With good gains from other edible oils, canola has remained on the rise so far during the week of Oct. 18. It’s uncertain as to how much longer the rally could press on, but analyst David Derwin of PI Financial in Winnipeg said canola punching through $1,000 per tonne again is possible. “Never […] Read more
ICE canola futures’ daily limit expanded to $60
Reading Time: < 1 minute MarketsFarm — The daily price limit (DPL) for canola futures contracts on the ICE Futures platform will rise to $60 per tonne starting Nov. 1, the exchange announced Tuesday. The DPL determines how much a contract can move in a given session above or below the previous settlement. The new level compares with the current […] Read more
ICE weekly outlook: Canola still rangebound
Selling pressure seen from U.S. soy
Reading Time: < 1 minute MarketsFarm — ICE Futures canola contracts held rangebound during the week ended Wednesday, climbing to their strongest levels in two months at one point before running into resistance and retreating to trade well off those highs. “We’re still stuck in a trading range,” said Keith Ferley of RBC Dominion Securities in Winnipeg. Activity in outside […] Read more
ICE weekly outlook: Canola feeling the energy
Canola riding on fuels' bullish momentum
Reading Time: < 1 minute MarketsFarm — ICE Futures canola contracts moved steadily higher over the week ended Wednesday, hitting the top-end of a three month trading range. While tight Canadian supplies due to a Prairie drought have underpinned the market for some time, the latest strength and any future direction may be more closely tied to movement in energy […] Read more
Exports tumble as supplies simply not there
'There's very little to sell'
Reading Time: 2 minutes MarketsFarm — Cereal and oilseed exports out of Canada nosedived in August just as the 2021-22 marketing began, according to the monthly export report from the Canadian Grain Commission (CGC). At about 2.24 million tonnes, total grain exports were down 38.5 per cent overall compared to those in August 2020. “There’s very little to sell. […] Read more
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