ICE November 2023 canola with 20-, 50- and 200-day moving averages. (Barchart)

ICE weekly outlook: Canola enters volatile harvest period

Outside veg oil markets limit the downside

Reading Time: < 1 minute MarketsFarm — The looming harvest may keep a lid on the upside in the ICE Futures canola market over the next month as participants wait to get a better handle on the size of this year’s crop. “We’re still at the mercy of trying to determine what size of crop we have,” said MarketsFarm Pro […] Read more

ICE July 2023 canola with 20-day moving average and November 2023 canola (yellow line). (Barchart)

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


ICE July 2023 canola with 20-day moving average and November 2023 canola (yellow open/high/low/close). (Barchart)

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

ICE November 2023 canola with Bollinger bands (20,2) and May 2023 canola (black line). (Barchart)

ICE weekly outlook: New-crop November canola set to step back

StatCan not expected to sway futures much

Reading Time: < 1 minute MarketsFarm — There is presently little upside to new-crop November canola on ICE Futures, according to analyst Errol Anderson of ProMarket Communications in Calgary. Anderson pointed to losses in Malaysian palm oil and weakness in China’s soymeal market as weighing on ICE canola values, with more pressure coming out of South America. “The [soybean] production […] Read more


ICE January 2023 canola (candlesticks) with Bollinger bands (20,2) and 100-day moving average (black line). (Barchart)

ICE weekly outlook: Canola sees choppy, sideways month-end trade

Wide crush margins remain bullish

Reading Time: < 1 minute MarketsFarm –– ICE Futures canola contracts held within a narrow range during the week ended Wednesday, lacking any clear direction with the rolling of positions out of the nearby November contract ahead of its expiry behind much of the trade volumes. “We’re stuck a little rangebound here,” a Winnipeg-based trader said of the sideways activity, […] Read more

ICE July 2022 canola (candlesticks) with 20-, 50- and 100-day moving averages (yellow, dark green and black lines) and November 2022 canola (purple line). (Barchart)

ICE weekly outlook: Trend remains pointed higher for canola

Reading Time: < 1 minute MarketsFarm — The ICE Futures canola market climbed to fresh contract highs once again during the week ended Wednesday, although profit-taking at those highs did slow the advances. While additional corrections are possible, both the underlying fundamentals and technical remain supportive. “This is the bull market of all time in canola,” said analyst Mike Jubinville […] Read more


ICE November 2021 canola (candlesticks) with Bollinger bands (20,2). (Barchart)

ICE weekly outlook: Analyst sees canola spike late next month

Movement expected to roll out of November soon

Reading Time: < 1 minute MarketsFarm — As the canola harvest winds down on the Prairies, ICE Futures canola began to climb upward in approaching $900 per tonne, the upper limit of its range. That’s given Winnipeg-based analyst Wayne Palmer of Exceed Grain reason to believe canola will bust through $900 per tonne. “That’s all due to the drought and […] Read more



ICE November 2021 canola (candlesticks) with 20-day moving average (green line) and July 2021 canola (yellow open/high/low/close). (Barchart)

ICE weekly outlook: Attention turns to new-crop canola

'Somebody's feet will be held to the fire'

Reading Time: < 1 minute MarketsFarm — Wide price swings in the nearby ICE Futures July canola contract over the past few weeks have sent most commercial trade into the new-crop November, with direction in the front month hard to predict given recent volatility. “Where (July canola) finally goes off the board, I have no idea, but I wouldn’t be […] Read more

ICE November 2020 (blue), January 2021 (yellow), March 2021 (orange) and July 2021 (green) canola futures. (Barchart)

ICE weekly outlook: Will canola’s bull market continue?

Loonie's strength has oddly little effect

Reading Time: 2 minutes MarketsFarm — Canola has been seeing terrific days on ICE Futures so far in October, thanks to a bull market generated by good demand and further supported by traders looking to roll out of their November contracts as those soon expire. As October winds down, the big question is: will canola’s ride come to an […] Read more