Reading Time: 2 minutes MarketsFarm — ICE Futures canola contracts trended lower over the past two weeks and could have some more room to the downside before eventually returning higher with summer weather markets and expected strength in Chicago corn futures. The November canola contract settled at $450.40 per tonne on Wednesday. The contract could have another $5-$10 to […] Read more
ICE weekly outlook: All eyes on King Corn
ICE weekly outlook: Weather, politics in focus for canola trade
Reading Time: < 1 minute MarketsFarm — ICE Futures canola contracts fell to their lowest levels in a month during the week ended Wednesday as much-needed moisture also fell across much of Western Canada. While there are still plenty of areas of concern, the rain has taken some of the weather premium out of the market, said Jonathon Driedger of […] Read more
ICE weekly outlook: Weather the main factor in canola bids
Reading Time: 2 minutes MarketsFarm — Forecasts of rain for Western Canada will certainly help canola in terms of growing this year, said David Derwin of PI Financial in Winnipeg. “I spoke with several farmers from across the Prairies who said we got some good rains, a few who didn’t, but by in large, it’s good and the forecasts […] Read more
ICE weekly outlook: Canola markets remain sensitive to weather
Reading Time: < 1 minute MarketsFarm — Canola markets were following trends set by soybean prices, as worries of late planting weighed on the minds of traders and farmers alike. As corn planting comes to an end, prolonged wet weather has continued to delay soybean planting to the point where the growing season may be shortened. “I think the market […] Read more
Canola funds still short, despite active U.S. covering
Reading Time: < 1 minute MarketsFarm — Speculators continue to sit on a large net short position in ICE canola futures, only reducing their holdings slightly in late May, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). Managed money and other reportable speculators had a net short position of 71,065 contracts […] Read more
ICE weekly outlook: Uncertain U.S. soy prospects boost canola
Reading Time: < 1 minute MarketsFarm — ICE Futures canola contracts climbed sharply higher during the week ended Wednesday, hitting their best levels in more than a month as strength in the Chicago Board of Trade soy complex provided spillover support. “We have a bit of a short-covering rally going on in canola,” said Jerry Klassen, manager of Canadian operations […] Read more
Fund traders still sitting on large canola short position
Reading Time: < 1 minute MarketsFarm — Speculators continue to sit on a large net short position in ICE canola futures, only reducing their holdings slightly over the past week, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). Managed money and other reportable speculators had a net short position of 72,844 […] Read more
ICE weekly outlook: Canola looking for more support
Reading Time: < 1 minute MarketsFarm — ICE canola futures moved higher during the week ended Wednesday as a rally in the Chicago Board of Trade soy complex provided support. Whether there’s more room to the upside remains to be seen. “It looks like we’ve maybe turned a corner,” said Wayne Palmer, senior market analyst with Exceed Grain in Winnipeg. […] Read more
Net short position keeps growing in canola
Reading Time: < 1 minute MarketsFarm — The large speculative short position in ICE Futures canola contracts continued to grow during the week ended Tuesday, as speculators added to their bearish bets on the market, according to the latest commitment of traders (CoT) report compiled by the U.S. Commodity Futures Trading Commission (CFTC). Managed money and other reportable speculators had […] Read more
ICE weekly outlook: Little for canola bids to stand on
Reading Time: 2 minutes MarketsFarm — There wasn’t much available to sustain a bounce in canola prices, from where David Derwin sits. “It’s really tough to say. We had canola drop so much over the last couple of months and sometimes it’s ‘buy the rumour, sell the fact,’” said Derwin, a commodities portfolio manager with PI Financial in Winnipeg. […] Read more
A message from April Stewart, Country Guide's Associate Editor
