Reading Time: < 1 minute CNS Canada –– ICE Futures canola contracts held relatively rangebound during the week ended Wednesday, and should be expected to remain steady heading into the New Year barring outside political developments. “We’re in a doldrums environment,” said Mike Jubinville of ProFarmer Canada in Winnipeg. “The supply/demand fundamentals suggest this market is reasonably well supplied, with […] Read more
ICE weekly outlook: Canola steady heading into 2019
ICE weekly outlook: Cheaper canola could stir up export interest
Reading Time: 2 minutes CNS Canada — The ICE Futures canola market has seen contracts become cheaper of late, which could lead to an increase in demand — but the market is also still closely following the ongoing saga between China and the U.S. “Everybody’s just waiting for some kind of news regarding China possibly purchasing U.S. beans. They […] Read more
Funds reduce short position in canola
Reading Time: < 1 minute CNS Canada — Fund traders lowered their net short positions in ICE canola futures during the week ended Dec. 4, according to the latest Commitment of Traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). According to the latest report, managed money and other reportable speculators decreased their net short position in canola […] Read more
ICE weekly outlook: Firm canola has limited upside
Reading Time: < 1 minute CNS Canada — Canola futures on the ICE Futures platform moved higher during the week ended Thursday, as the market corrected off of the lows hit in late November. Gains in Chicago Board of Trade soybeans and a smaller 2018 Canadian canola crop contributed to the advances, although values may not have much more room […] Read more
ICE weekly outlook: Canola at mercy of U.S. soy
Reading Time: 2 minutes CNS Canada — The ICE canola market is currently at the mercy of the soybean market as it awaits this week’s G20 meeting between Chinese President Xi Jinping and U.S. President Donald Trump. “We’ve got the big pop in the soybeans in anticipation of some positive developments at this weekend’s G20 meetings… we are getting […] Read more
ICE weekly outlook: Canola corrects off lows, more losses possible
Reading Time: < 1 minute CNS Canada — ICE Futures canola contracts fell to their lowest levels in 15 months during the week ended Wednesday, but found some support to the downside as traders reacted to activity in the Canadian dollar and Chicago soyoil. “Canola seems to be getting some short covering after a long break (lower),” said Ken Ball […] Read more
Funds’ net short position growing in canola
Reading Time: < 1 minute CNS Canada –– Speculators added to their net short positions in canola during the week ended Tuesday, according to the latest Commitment of Traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). Managed money and other reportable speculators increased their net short position to roughly 29,400 contracts in canola during the reporting period, […] Read more
ICE weekly outlook: Canola seen dropping further still
Reading Time: 2 minutes CNS Canada — As global oilseed overproduction and a trade war rages on between the U.S. and China, producers should get used to lower canola prices, according to one analyst. “For the last two years (we’ve been) moving in a $480-$530 type of range. My best guess is that when we get into 2019, (without […] Read more
ICE weekly outlook: Canola market establishing a base
Reading Time: < 1 minute CNS Canada – Canola contracts on the ICE platform are trading near their lowest levels in more than a year, but could be running out of room to the downside. With the North American harvest pressure easing and the South American soybean harvest still a number of months away, canola has window of opportunity where […] Read more
ICE weekly outlook: ICE canola could go lower still
Reading Time: 2 minutes CNS Canada – It’s a dismal outlook for the ICE canola market as it has hit new yearly lows and could go lower still, according to one trader. “Unfortunately the news for the moment doesn’t seem to be overwhelmingly bullish news. It continues to be a little bit on the tad negative side,” said Keith […] Read more
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