Reading Time: < 1 minute MarketsFarm — Although canola prices have been somewhat erratic over the last weeks, they along with other oilseeds have generally rebounded, according to trader Ken Ball of PI Financial in Winnipeg. Ball commented there has been a good amount of short-covering in soyoil at the Chicago Board of Trade, as markets positioned themselves for an […] Read more
ICE weekly outlook: Canola will follow soyoil up or down
Prairie weather another guiding factor
ICE weekly outlook: Canola finds support from funds, weather
Crude oil markets also a factor
Reading Time: 2 minutes MarketsFarm — After being in a steady decline over the past month, the ICE Futures canola market was on the rise for the week ended Wednesday. The July canola contract closed Wednesday at $670.30 per tonne, an increase of $20.70 from the week before. Meanwhile, the November canola contract rose $22.60 per tonne over the […] Read more
Fund traders add to bearish bets in canola
Funds also net short in MGEX and CBOT wheat, corn
Reading Time: < 1 minute MarketsFarm — Speculative fund traders added to their net short position in canola during the week ended May 30, putting on more bearish bets while also liquidating some previous longs, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As of May 30, the net managed money short […] Read more
ICE weekly outlook: Hard to know where canola will go
'Could easily make a case either way'
Reading Time: 2 minutes MarketsFarm — ICE Futures canola contracts fell hard to end the month of May, dropping to levels not seen in more than two years. While the oversold market may be due for a correction, there could also still be more room to the downside. “It’s hard to have a real solid opinion of whether we’ll […] Read more
ICE weekly outlook: Don’t bank on $700 canola, analyst suggests
Fresh bullish news not yet in view
Reading Time: < 1 minute MarketsFarm — New-crop canola prices on ICE Futures seemed to be destined to remain well below $700 per tonne, according to analyst Errol Anderson of ProMarket Communications in Calgary. “The market tends to be back where it came from,” Anderson said, stressing that chances of canola pushing higher requires fresh bullish news. “It’s got to […] Read more
Speculative short position declines in canola
Traders' net long in CBOT soy also reduced
Reading Time: < 1 minute MarketsFarm — The speculative short position in canola continued to shrink during the week ended May 15, as speculators bought back short positions and put on new longs, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As of May 15, 2023, the net managed money short position […] Read more
ICE weekly outlook: Unclear where canola wants to go
Soy complex's trend much more apparent
Reading Time: 2 minutes MarketsFarm — While the ICE Futures canola market declined during the week ended Wednesday, the oilseed has been affected by a mixture of supports and pressures, according to commodities futures advisor David Derwin of PI Financial in Winnipeg. The July canola contract dropped $20.60 per tonne during the week to close at $714.10 on Wednesday, […] Read more
Canola fund short position narrows slightly in early May
Traders reduce net long in soybeans
Reading Time: < 1 minute MarketsFarm –– Fund traders were buying back short positions and putting on some new longs in the canola futures market during the first full week of May, causing the net short position to narrow in slightly, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As of May […] Read more
ICE weekly outlook: Canola showing independent strength
Prairie weather uncertainty supportive
Reading Time: 2 minutes MarketsFarm — ICE Futures’ canola market saw some independent strength relative to other oilseeds during the week ended Wednesday, as speculative positioning and the need to ration tight old-crop supplies provided support. Canadian canola stocks as of March 31 were pegged at 5.95 million tonnes by Statistics Canada in a report released Tuesday. That was […] Read more
ICE weekly outlook: Expect canola to climb higher
Seeding reported underway in southern Alberta
Reading Time: < 1 minute MarketsFarm — As better-than-expected weather across the Canadian Prairies is very likely to spur on farmers to begin their spring seeding, the market is poised to push higher over the next couple of months, according to an analyst. “We have come down to the low end of the range,” said David Derwin, commodity futures advisor […] Read more
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