Reading Time: < 1 minute MarketsFarm — The ICE Futures canola market continued its months-long downtrend as the calendar flipped over to November, with the futures looking for an outside catalyst to spark a corrective bounce. While canola has seen occasional attempts at correcting higher over the past two months, any gains proved short-lived. “The oilseeds are very swingy and […] Read more
ICE weekly outlook: Falling canola market seeks support
Canola seen as 'fairly cheap' but not attracting interest
Fund short position hits new record in ICE canola
Traders return to net long on soybeans
Reading Time: < 1 minute MarketsFarm — The net speculative short position in the ICE Futures canola market rose to its largest level ever recorded as fund traders put on fresh bearish bets and liquidated previously placed long positions, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As of Oct. 24, the […] Read more
ICE weekly outlook: Canola pulling lower
Futures subject to 'financial gravity'
Reading Time: 2 minutes MarketsFarm — Canola futures on the Intercontinental Exchange kicked off the week of Oct. 23-27 with sharp losses, as the most heavily traded January contract busted through its support level of $700 per tonne. Among the reasons for canola’s steep fall, as David Derwin pointed out, were the better than average yields from this year’s […] Read more
Managed money adding to net short positions in canola
Canola at biggest net short position in months
Reading Time: < 1 minute MarketsFarm — Managed money fund traders remain bearish canola, growing the net short position in the ICE Futures market to the second largest level of the past year, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As of Oct. 17, the net managed money short position in […] Read more
ICE weekly outlook: Upside seen for canola prices
'Aggressive manipulation' seen as a factor
Reading Time: 2 minutes MarketsFarm — Early gains were followed by late losses on ICE Futures’ canola market during the week ended Wednesday. The November canola contract began the week at $704.60 per tonne before rising up to $725.80/tonne on Monday, then ending the week at $711.70. The January contract went in similar directions, starting at $710.10/tonne before moving […] Read more
Fund short position grows in canola
Funds shift to net short in CBOT soybeans
Reading Time: < 1 minute MarketsFarm — The managed money net short position in ICE canola futures continued to grow in early October as speculators liquidated long positions and put on new shorts, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As of Oct. 10, the net managed-money short position in canola […] Read more
ICE weekly outlook: Canola futures looking for bottom
Crushing pace remains aggressive
Reading Time: < 1 minute MarketsFarm — ICE Futures canola contracts fell to their lowest levels in three and a half months during the week ended Wednesday, taking some direction from Chicago soyoil as harvest activity winds down across the Prairies. Losses in other markets, including Malaysian palm oil and European rapeseed futures, added to the declines in canola. “Everybody […] Read more
Managed money fund traders increase bearish canola bets
Funds still net long in CBOT soybeans
Reading Time: < 1 minute MarketsFarm — The managed money net short position in ICE Futures canola grew to its largest level in three and a half months in early October on a combination of long liquidation and new bearish bets going on the books, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission […] Read more
ICE weekly outlook: Canola looking for a spark
Recent declines in crude oil, diesel seen as bearish
Reading Time: < 1 minute MarketsFarm — The ICE Futures canola market hit its lowest levels in three months on the last trading day of September but has since uncovered some support in the first days of October. Canola “has found a level where it’s stabilized, but there’s not a lot of life right now,” said Ken Ball of PI […] Read more
ICE weekly outlook: Canola ‘due for a bounce’
Weather co-operating, mostly, for Prairie harvesting
Reading Time: 2 minutes MarketsFarm — A month-long decline of ICE Futures canola prices, which saw the oilseed lose $110 per tonne, came to an end and was followed by a bounce-back. While the price of the November canola contract still declined by $10/tonne to $726.10 during the week ended Wednesday, it hit its lowest price since the end […] Read more
A message from April Stewart, Country Guide's Associate Editor
