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ICE January 2024 canola with 20-day moving average (yellow line, right column) and CBOT January 2024 soybeans (green line, left column). (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Soy complex supporting canola

'Canola has been largely pulled up'

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MarketsFarm — Amid falling crude oil prices, canola prices are staying strong, largely due to the Chicago soy complex, according to a Calgary analyst. Errol Anderson of ProMarket Communications has been impressed with canola’s recent rise. The January contract on ICE Futures was as low at $672 per tonne on Nov. 2 before rising to […] Read more
(File photo by Dave Bedard)
Canola, Crops, Markets

Net speculative short position in canola tops 100,000 contracts

Net long increases in CBOT soy

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MarketsFarm — Speculative fund traders continued to add to their large short positions in canola futures during the last week of October, taking the net managed money short position over 100,000 contracts for the first time on record, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As […] Read more
ICE January 2024 canola with 20-, 50- and 100-day moving averages. (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Falling canola market seeks support

Canola seen as 'fairly cheap' but not attracting interest

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MarketsFarm — The ICE Futures canola market continued its months-long downtrend as the calendar flipped over to November, with the futures looking for an outside catalyst to spark a corrective bounce. While canola has seen occasional attempts at correcting higher over the past two months, any gains proved short-lived. “The oilseeds are very swingy and […] Read more
(File photo by Dave Bedard)
Canola, Crops, Markets

Fund short position hits new record in ICE canola

Traders return to net long on soybeans

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MarketsFarm — The net speculative short position in the ICE Futures canola market rose to its largest level ever recorded as fund traders put on fresh bearish bets and liquidated previously placed long positions, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As of Oct. 24, the […] Read more
File photo of Rabobank’s office building in Utrecht. (Rabobank.com)
Crops, Markets

More acres expected for soybeans, canola, Rabobank says

RaboResearch arm sees Canada's exporters 'struggling' with margins

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MarketsFarm — Farmers in the U.S. will seed more soybeans in 2024-25, with Canadian canola plantings also expected to rise to a lesser extent, according to a grains and oilseeds analyst with RaboResearch Food and AgriBusiness, a division of the Dutch multinational bank Rabobank at the firm’s Fall Harvest Outlook webinar. During the Wednesday webinar, […] Read more
ICE January 2024 canola with 20-, 50- and 100-day moving averages. (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Canola pulling lower

Futures subject to 'financial gravity'

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MarketsFarm — Canola futures on the Intercontinental Exchange kicked off the week of Oct. 23-27 with sharp losses, as the most heavily traded January contract busted through its support level of $700 per tonne. Among the reasons for canola’s steep fall, as David Derwin pointed out, were the better than average yields from this year’s […] Read more
(Photo: Dave Bedard/File)
Crops, Markets

Little change in AAFC’s October supply/demand outlook

Canola, wheat, pea carryout estimates unchanged

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MarketsFarm — Supply/demand estimates for Canadian grains and oilseeds saw little change in the latest outlook for principal field crops from Agriculture and Agri-Food Canada (AAFC) released Monday. Canola ending stocks for 2023-24 were left unchanged at one million tonnes, which compares with the 2022-23 level of 1.506 million tonnes. Canadian canola exports in 2023-24 […] Read more
(Dave Bedard photo)
Canola, Crops, Markets

Managed money adding to net short positions in canola

Canola at biggest net short position in months

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MarketsFarm — Managed money fund traders remain bearish canola, growing the net short position in the ICE Futures market to the second largest level of the past year, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As of Oct. 17, the net managed money short position in […] Read more
ICE November 2023 canola with 20- and 50-day moving averages and January 2024 canola (black line). (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Upside seen for canola prices

'Aggressive manipulation' seen as a factor

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MarketsFarm — Early gains were followed by late losses on ICE Futures’ canola market during the week ended Wednesday. The November canola contract began the week at $704.60 per tonne before rising up to $725.80/tonne on Monday, then ending the week at $711.70. The January contract went in similar directions, starting at $710.10/tonne before moving […] Read more
(File photo by Dave Bedard)
Canola, Crops, Markets

Fund short position grows in canola

Funds shift to net short in CBOT soybeans

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MarketsFarm — The managed money net short position in ICE canola futures continued to grow in early October as speculators liquidated long positions and put on new shorts, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As of Oct. 10, the net managed-money short position in canola […] Read more

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