Reading Time: 2 minutes CNS Canada — The ICE Futures Canada canola market faces a slew of uncertainty as political turmoil in international trade markets and a looming report from Statistics Canada keeps traders guessing where the market is headed. “The craziness of the White House is the main focus. How will it affect the markets?” said Keith Ferley […] Read more
ICE weekly outlook: Canola seeks rain amid market turmoil
ICE weekly outlook: Canola sliding lower
Reading Time: < 1 minute CNS Canada — ICE Futures Canada canola contracts have trended lower for the past month and still have some more room to the downside heading into the New Year, according to an analyst. “I think we’ll go lower,” said Errol Anderson, of ProMarket Communications in Calgary, citing a number of bearish factors. Activity in the […] Read more
Canola charts looking bearish
Reading Time: < 1 minute CNS Canada –– ICE canola futures are looking bearish from a chart standpoint, with the November contract settling at its lowest point in more than two months on Monday at $485.70 per tonne. After declining about $25 per tonne over the past three weeks, the general trend still remains pointed lower, with the yearly lows […] Read more
ICE weekly outlook: Canola trades on weather
Reading Time: 2 minutes CNS Canada — It’s the time of year when canola prices closely follow the weather, and while recent rain has caused some losses, the market could hold onto its premium. “In some ways you could say it’s a classic weather market,” said Jon Driedger, senior market analyst at FarmLink Marketing. Prices had gained following dryness […] Read more
ICE weekly outlook: Canola market at mercy of weather
Reading Time: < 1 minute CNS Canada — ICE Futures Canada canola contracts climbed higher during the week ended Wednesday, following gains in the U.S. soy market. The dominant November canola contract posted a gain of $28.70 per tonne. That lifted it above major resistance to settle at $510.80. Prices were also boosted by concerns that rising temperatures in Western […] Read more
Canola climbs from bottom to top of chart in week
Reading Time: < 1 minute CNS Canada –– The ICE Futures Canada November canola contract has rallied by more than $30 in a matter of days, jumping past a number of key chart points in the process. The futures are nearing major resistance from a technical standpoint. The November contract, which has held in a $40 range from $472 to […] Read more
ICE weekly outlook: Canola looks to stay below $500
Reading Time: 2 minutes CNS Canada — ICE Futures Canada canola contracts are facing some bearish weather conditions as more rain is expected to fall across parched regions of the Prairies. During the week ended Wednesday, most canola contracts posted losses. The dominant November contract fell $7.80, to $489.60. The lone exception was the nearby July contract, which eked […] Read more
ICE weekly outlook: More losses likely for bearish canola
Reading Time: < 1 minute CNS Canada — ICE Futures Canada canola contracts posted large losses during the week ended Wednesday, and could be headed even lower, as bearish technicals and weakness in global economic markets outweigh supportive fundamentals. “We’re going into a seasonally slower demand period,” said Errol Anderson of ProMarket Communications. A downgrade of China’s credit by Moody’s […] Read more
Canola technicals rangebound
Reading Time: < 1 minute CNS Canada –– ICE Futures Canada canola contracts may have seen some weather-related strength over the past week, but technical signals remain relatively flat overall. The November contract settled Friday at $469.80 per tonne, nearing the high end of a corkscrew pattern — a series of higher lows and lower highs — going back over […] Read more
Canola charts turn bearish
Reading Time: < 1 minute CNS Canada — ICE Futures Canada canola contracts have crashed hard the past few days, losing roughly $40 per tonne since hitting some of their highest levels of the past year the previous week, as speculators bailed out of long positions. The most active November contract settled at $493.60 per tonne on Tuesday, its weakest […] Read more
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