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ICE canola weekly outlook: Market in search of demand

Farmers holding large amounts of unpriced canola waiting for future to move upward, analyst says

Reading Time: < 1 minute A modest attempt at correcting higher was met by stiff resistance in the ICE Futures canola market, with a general downtrend still intact as the futures work to uncover some demand.


ICE March 2024 canola as of Dec. 8, 2023, with 20-, 50- and 100-day moving averages. (Barchart)

ICE weekly outlook: Canola likely to keep sliding back 

With larger crop, trade likely to be overwhelmed by deliveries, analyst says

Reading Time: 2 minutes There is a rather significant bearish outlook for canola for the rest of December, according to Jerry Klassen of Resilient Commodity Analysis. He said a large part of this was generated by the Statistics Canada production report released on Dec. 4. 

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ICE weekly outlook: Canola prices could rebound

'There's nothing all that exciting to look at'

Reading Time: 2 minutes MarketsFarm — Winnipeg-based trader Ken Ball from PI Financial is cautiously optimistic that canola prices can rebound in the short term. The January canola contract closed at $702.30 per tonne on Wednesday a weekly loss of $7.40. The contract fell below the $700 level on U.S. Thanksgiving on Nov. 23, a day with little volume. […] Read more


(File photo by Dave Bedard)

Speculators buy back bearish canola bets in latest report

Funds reduce net long in soybeans

Reading Time: < 1 minute MarketsFarm — Fund traders were actively covering bearish bets in canola during the week ended Nov. 21, buying back some previously placed short positions, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). The report was delayed due to the U.S. Thanksgiving holiday. As of Nov. 21, 2023, […] Read more

ICE January 2024 canola with 20- and 200-day moving averages and nine-day exponential moving average. (Barchart)

ICE weekly outlook: Purely technical canola market trending up

Activity expected thin until next week

Reading Time: < 1 minute MarketsFarm — The ICE Futures canola market moved within a wide range during the week ended Wednesday, hitting some of its best levels in a month before running into resistance at the highs. With traders in the United States moving to the sidelines for the U.S. Thanksgiving holiday, activity should be thin and choppy until […] Read more


(Dave Bedard photo)

Large speculative short position in canola dips slightly

Net long in CBOT soybeans increases

Reading Time: < 1 minute MarketsFarm — The large managed money short position in canola futures dipped slightly during the week ended Nov. 14, as speculators bought back some of their bearish bets, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As of Nov. 14, the net managed money short position in […] Read more



ICE January 2024 canola with 20-day moving average (yellow line, right column) and CBOT January 2024 soybeans (green line, left column). (Barchart)

ICE weekly outlook: Soy complex supporting canola

'Canola has been largely pulled up'

Reading Time: 2 minutes MarketsFarm — Amid falling crude oil prices, canola prices are staying strong, largely due to the Chicago soy complex, according to a Calgary analyst. Errol Anderson of ProMarket Communications has been impressed with canola’s recent rise. The January contract on ICE Futures was as low at $672 per tonne on Nov. 2 before rising to […] Read more

(File photo by Dave Bedard)

Net speculative short position in canola tops 100,000 contracts

Net long increases in CBOT soy

Reading Time: < 1 minute MarketsFarm — Speculative fund traders continued to add to their large short positions in canola futures during the last week of October, taking the net managed money short position over 100,000 contracts for the first time on record, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As […] Read more