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Tag Archives canola futures

ICE March 2022 canola (candlesticks) with Bollinger bands (20,2). (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Canola futures still well supported

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MarketsFarm — The ICE Futures canola market was showing signs of running into resistance to the upside during the week ended Wednesday, as speculators booked profits on some of their large long positions. The general uptrend, however, remains intact despite the minor correction. While bouts of consolidation were not unexpected, “the trends are still upward […] Read more
ICE November 2021 canola (candlesticks) with 20-day moving average (yellow line) and CBOT December 2021 soyoil (green line, left column). (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Canola rally keeps going

Not yet back at $1K, but it's possible

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MarketsFarm — With good gains from other edible oils, canola has remained on the rise so far during the week of Oct. 18. It’s uncertain as to how much longer the rally could press on, but analyst David Derwin of PI Financial in Winnipeg said canola punching through $1,000 per tonne again is possible. “Never […] Read more
ICE November 2021 canola (candlesticks) with 20-, 50- and 100-day moving averages (yellow, dark green and black lines). (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Canola feeling the energy

Canola riding on fuels' bullish momentum

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MarketsFarm — ICE Futures canola contracts moved steadily higher over the week ended Wednesday, hitting the top-end of a three month trading range. While tight Canadian supplies due to a Prairie drought have underpinned the market for some time, the latest strength and any future direction may be more closely tied to movement in energy […] Read more
ICE November 2021 canola (candlesticks) with Bollinger bands (20,2). (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Analyst sees canola spike late next month

Movement expected to roll out of November soon

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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-, 50- and 100-day moving averages (yellow, green and black lines) and CBOT October 2021 soyoil (blue line, left column). (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Canola futures slide, cash prices might not follow

Weakness seen ongoing in soy complex

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MarketsFarm — If the October soyoil contract on the Chicago Board of Trade (CBOT) falls to 55 U.S. cents/lb., it’s likely ICE Futures canola will drop to around $850 per tonne, according to analyst Errol Anderson of ProMarket Communications in Calgary. ICE November canola closed Wednesday at $890.80 per tonne, giving up $10.80 since the […] Read more
ICE November 2021 canola (candlesticks) with Bollinger bands (20,2). (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Canola rangebound, awaits report

New StatsCan data due out Monday

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MarketsFarm — ICE Futures canola contracts saw some choppy activity during the week ended Wednesday, hitting their lowest levels in nearly a month before recovering back toward the upper end of their wide sideways range. A new production report from Statistics Canada, due out Monday (Aug. 30), could set the stage for a break one […] Read more

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