Reading Time: < 1 minute ICE futures canola contracts fell to their lowest levels in two months during the first week of August, with speculative long liquidation behind some of the selling pressure.
Charts turning bearish
New crop production uncertain
Weather, strong loonie fail to prevent canola’s rise
New crop looking good, but needs rain
If dryness not alleviated, canola would turnaround
Nov canola holds above 20-day moving average
Weather, China could guide oilseed’s trajectory
Upcoming rains could pull prices back
Conditions range from too dry to too wet
Announcement pending on 45Z biofuel tax credit