Reading Time: < 1 minute CNS Canada –– ICE Futures Canada canola contracts held rangebound during the week ended Wednesday, but could be due for a move higher if the market follows its typical seasonal patterns. The November canola contract has trended sideways over the past month, with prices ranging from $460 to $480 per tonne. That price range is […] Read more
ICE weekly outlook: Bounce possible for rangebound canola
ICE weekly outlook: Canola can’t crack resistance
Reading Time: 2 minutes CNS Canada — ICE Futures Canada canola futures ended slightly higher for the week ended Wednesday. All of the contracts eked out minor gains, but it was largely seen as a frustrating session for the near-term November contract, which again failed to settle above its technical resistance point of $480 per tonne. Funds largely pushed […] Read more
ICE weekly outlook: Canola poised to test resistance
Reading Time: < 1 minute CNS Canada — ICE Futures Canada canola futures tried and failed to break higher on numerous occasions over the past two weeks, but could be poised to finally see a bounce, according to a market analyst. A rebound in palm oil is supporting soyoil, which in turn is supportive for canola, said Errol Anderson of […] Read more
ICE weekly outlook: Canola climbs despite harvest pressure
Reading Time: 2 minutes CNS Canada –– ICE Futures Canada canola contracts finished higher for the week ended Wednesday, posting gains of $9-$10 per tonne despite mounting harvest pressure and large world supplies of vegetable oil. The slumping Canadian dollar, which momentarily reached its lowest point in 11 years during the session, has been a big reason behind canola’s […] Read more
Canola exports seen moving slower than expected
Reading Time: 2 minutes CNS Canada –– Sales of canola out of the world’s top canola-exporting country are moving slower than merchants had anticipated — and market watchers attribute Canada’s sluggish pace to high prices and low global demand. “The export story right now is quiet,” said Peter Schutz, canola merchant at Richardson International, attributing it to a lack […] Read more
ICE weekly outlook: Growers hanging onto supplies
Reading Time: 2 minutes CNS Canada — ICE Futures Canada canola contracts chalked up gains for the week ended Wednesday, as farmers hung onto supplies in the quest to draw out better prices. The January canola contract was the most consistent mover, finishing higher for the seventh consecutive session on Wednesday. Either “producers are not selling it or the […] Read more
ICE weekly outlook: Canola weak, but finding support
Reading Time: < 1 minute CNS Canada — ICE Futures Canada canola contracts posted losses in most months during the week ended Wednesday, though the market uncovered some support to the downside and finds itself well off its nearby lows. The larger-than-expected old-crop stocks uncovered by Statistics Canada in its September 3 report remain a bearish influence overhanging the market. […] Read more
ICE weekly outlook: More losses in store for canola
Reading Time: < 1 minute CNS Canada — ICE Futures Canada canola contracts were mixed during the week ended Wednesday, with losses in the most active November contract but a slightly firmer tone in the more deferred positions. With harvest pressure only beginning in Western Canada, and the U.S. soy complex looking bearish, the front month will likely keep drifting […] Read more
Canola basis levels seen hanging steady
Reading Time: 2 minutes CNS Canada — Despite a turbulent start to the week for most commodities due to China’s stock market crash, basis levels for canola remain relatively attractive in Manitoba and much of the Prairies, according to an industry watcher. Canola growers have been receiving cash prices of roughly $10.50 in Manitoba and parts of Saskatchewan, said […] Read more
Canola exports to feel pinch of Chinese market crash
Reading Time: 2 minutes CNS Canada — Canada’s canola exports will likely get dragged down by the sea of red ink flowing from Chinese markets, according to an analyst. “It will slow the export market. The whole canola engine has shrunk a little bit. Production will be down about 15 per cent or thereabouts,” said Errol Anderson of ProMarket […] Read more
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