Reading Time: < 1 minute CNS Canada –– ICE Futures Canada canola contracts have moved steadily higher over the past month, but the market remains rangebound overall. “There are underlying supportive influences for canola, but it still comes down to the bigger trends in vegetable oils and oilseeds competing internationally,” said Mike Jubinville of ProFarmer Canada, adding that “there’s a […] Read more
ICE weekly outlook: Canola ebbs, flows in wide range
ICE weekly outlook: Canola watching USDA report
Reading Time: < 1 minute CNS Canada — ICE Futures Canada canola contracts advanced during the week ended Wednesday, as weakness in the Canadian dollar and solid support from vegetable oil pushed prices higher. The front-month May contract started the period below technical resistance but soon climbed above $470 per tonne and at one point appeared ready to test the […] Read more
ICE weekly outlook: Canola turning sideways
Reading Time: < 1 minute CNS Canada –– ICE Futures Canada canola contracts hit some of their best levels in a month during the week ended Wednesday, but appear to have run into resistance from a chart standpoint as the near-term outlook shifts sideways. The May contract hit a session high of $476 per tonne on Tuesday, but was unable […] Read more
ICE weekly outlook: Canola to keep support going forward
Reading Time: < 1 minute CNS Canada — The ICE Futures Canada canola market rose over the week ended Wednesday. A lack of farmer selling combined with currency issues and action in the soy market to give the market a boost. One trader said the declining open interest caused him to think funds were also liquidating some of their long […] Read more
ICE weekly outlook: Canola recovers, but faces resistance
Reading Time: 2 minutes CNS Canada — ICE Futures Canada canola contracts managed to post small gains over the week ended Wedensday, as the market recovered off of the contract lows hit the previous week. However, former support levels are now acting as resistance, as the market finds itself in a new, slightly lower range. Support in the front […] Read more
ICE weekly outlook: Canola drops amid widespread pressure
Reading Time: 2 minutes CNS Canada — ICE Futures Canada canola contracts suffered significant losses during a volatile week ended Wednesday. While futures managed to recover off their fresh contract lows hit during the week, the overall technical bias remained pointed lower. Weakness in the U.S. soy complex and vegetable oil market were joined by strength in the Canadian […] Read more
ICE weekly outlook: ‘Time will tell’ for canola after drop
Reading Time: < 1 minute CNS Canada — Canola contracts on the ICE Futures Canada platform dropped sharply during the week ended Wednesday, falling below major support as some stops were hit on the way down. While damage was done from a chart standpoint, end-user demand remains solid and “time will tell” if the downtrend continues or if canola manages […] Read more
ICE weekly outlook: Canola watching currency, soybeans
Reading Time: 2 minutes CNS Canada — ICE Futures Canada canola contracts posted small gains during a choppy trading week ended Wednesday. Values were under pressure from the start due to a sharp break below major chart support on Feb. 9. Expectations of a large soybean crop from South America along with the ever-strengthening Canadian dollar put pressure on […] Read more
ICE weekly outlook: Canola testing longtime support
Reading Time: < 1 minute CNS Canada — ICE Futures Canada canola contracts moved lower during the week ended Wednesday, breaking below nearby chart support in the process. The March contract fell below the $460 per tonne level during the week for the first time in nine months, but managed to recover to settle at $462.80 on Wednesday. A correction […] Read more
ICE weekly outlook: Canola posts gains as loonie plunges
Reading Time: < 1 minute CNS Canada — ICE Futures Canada canola contracts advanced during the week ended Wednesday, on the back of currency action that made the commodity more desirable to international buyers. “This Canadian dollar has really helped out exports to China, Japan, Pakistan and Mexico,” said Wayne Palmer of Agri-Trend Marketing in Winnipeg. The loonie continued to […] Read more
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