Reading Time: 2 minutes CNS Canada –– Two main factors are dominating the ICE Futures Canada canola market, one analyst says, as prices are poised to meet resistance in the near-term. “The market is looking for some signs of resolution around this Chinese dockage situation, and it just continues to bring a lot of uncertainty,” said Jonathon Driedger, market […] Read more
ICE weekly outlook: Traders watch China, production numbers
ICE weekly outlook: Canola looks to widen out range
Reading Time: 2 minutes CNS Canada — ICE Futures Canada canola contracts appear poised to chop around a new $20 trading range ahead of the harvest. The front-month canola contract had been down at $446 per tonne to start the week (Aug. 3-10) until speculator activity and spillover gains from vegetable oil helped bring it up to the $460 […] Read more
ICE weekly outlook: Canola sitting right above support
Reading Time: 2 minutes CNS Canada — ICE Futures Canada canola contracts moved lower during the week ended Wednesday, but held above major support as prices remain relatively cheap compared to other oilseeds. Fund traders adding to short positions were behind much of the weakness in canola, although traders said the net short position was reaching the point that […] Read more
ICE weekly outlook: Weather market ahead
Reading Time: 2 minutes CNS Canada — ICE Futures Canada canola prices edged up on the week, propped up by soggy Prairie fields and the anticipation for warm, dry weather in the U.S. Going forward, the market will be dominated by fund trading and weather-watching. “Funds are net short right now, and that’s something different, because we’ve rallied back […] Read more
Canola drops hard, nearing major chart support
Reading Time: < 1 minute CNS Canada — ICE Futures Canada canola contracts fell below nearby chart support on Thursday, hitting their softest levels in four months. There is more room to the downside, but the market is also looking oversold. Fund traders were noted sellers on the move down, liquidating long positions and possibly moving to the short side […] Read more
ICE weekly outlook: Canola looks for bounce-back
Reading Time: < 1 minute CNS Canada –– ICE Futures Canada canola contracts sunk lower during the week ended Wednesday, pressured by fund selling and a drop in the U.S. soy complex. However, there could be some relief in sight, as the market looks to correct itself. “Funds coming into this week were huge, longs in soybeans and corn; they’re […] Read more
ICE weekly outlook: Canola clawing back from sharp losses
Reading Time: < 1 minute CNS Canada — ICE Futures Canada canola contracts were slowly clawing their way back after dropping to their weakest levels in three months over the past week. The market likely has more room to the upside, although weather conditions will be a major factor driving prices through the summer months. “Canola was ridiculously cheap relative […] Read more
ICE weekly outlook: Room for additional downside in canola
Reading Time: 2 minutes CNS Canada –– ICE Futures Canada canola contracts moved lower on the week, and the market’s declines are likely not finished yet, one analyst says. Canola lost $42.90 in the July contract and $35.60 in the November contract in the week ended Wednesday, as a rout of fund selling pressured the market. “I think we’ve […] Read more
ICE weekly outlook: Canola establishes range
Reading Time: < 1 minute CNS Canada –– ICE Futures Canada canola suffered small losses during the week ended Wednesday, with both the July and November contracts chopping around the $520 per tonne mark. Losses in the Chicago Board of Trade (CBOT) soy complex weighed on canola. However, it lagged the U.S. market while receiving support from declines in the […] Read more
ICE weekly outlook: Canola gains depend on soybeans
Reading Time: 2 minutes CNS Canada –– ICE Futures Canada canola contracts moved higher during the week ended Wednesday and may have more room to the upside, provided the market continues to see a boost from the U.S. soy complex. “Right now, this market does not want to go down,” said senior analyst Wayne Palmer of Agri-Trend Marketing, on […] Read more
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