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Tag Archives canola prices

“Pods can look dramatically different, either riper or less ripe, than the actual seeds, so we need to be cracking open those pods and looking at the seeds.” Photo: Greg Berg
Canola, Crops, Markets

ICE weekly outlook: Canola following soyoil’s lead

Stat Can's principal field crop estimates will be released on Aug. 29, may affect prices

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MarketsFarm – The November canola contract rose above the C$800 per tonne mark for the first time in nearly a month during the week ended Aug. 23. However, it wasn’t without some turbulence over the last two days of trading. On Aug. 22, the November contract lost C$13.40 per tonne to close at $796.00, before […] Read more
ICE July 2023 canola with Bollinger bands (20,2). (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Weather to influence canola price movement

Short-covering seen supporting front months for now

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MarketsFarm — Canola contracts on the ICE Futures platform held relatively rangebound during the week ended Wednesday, trading within a $20 per tonne range in most months as market participants wait to get a better handle on new-crop prospects. “There’s some concern developing on seeding delays,” said Jamie Wilton of RJ O’Brien in Winnipeg, adding […] Read more
ICE May 2023 canola with 20-, 50- and 100-day moving averages. (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Rising canola market runs into resistance

Resistance seen around $835, support around $820

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MarketsFarm — ICE Futures canola contracts moved higher during the week ended Wednesday, but ran into some resistance to the upside as values held rangebound overall. “Technicals, short-covering, fund buying and a lack of selling,” were all providing support during the week along with spillover from advances in Chicago soyoil, according to Jamie Wilton of […] Read more
ICE March 2023 canola with 20-, 50- and 100-day moving averages. (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Choppy trading for canola, other oilseeds

Signals not pointing to course change for now

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MarketsFarm — Expect canola and other oilseed markets to remain choppy for the time being, according to trader Ken Ball of PI Financial in Winnipeg. “All of the markets are very choppy and erratic. They’re very nervous markets,” Ball emphasized, noting war in Ukraine and drought in Argentina are having some of the biggest impacts […] Read more
ICE November 2022 canola (candlesticks) with Bollinger bands (20,2). (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Seasonal upturn possible for canola

'Good underlying support' seen in futures

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MarketsFarm — ICE Futures canola contracts may soon be due for a seasonal turn higher as harvest pressure subsides and prices should be looking very attractive to end users. However, uncertain outside influences will still dictate the overall direction. “The field certainly gets muddied by issues of geopolitics,” said MarketsFarm analyst Mike Jubinville, pointing to […] 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
ICE November 2021 canola (candlesticks) with 20-, 50- and 100-day moving averages (yellow, green and black lines). (Barchart)
Canola, Crops, Markets, Weather

ICE weekly outlook: Canola remains expensive

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MarketsFarm — Concerns over the likelihood of a much smaller canola crop than previously anticipated, coupled with a very tight supply situation, continued to underpin values this week. That price rationing in turn has kept canola more expensive than other edible oils, according to trader Keith Ferley of RBC Dominion Securities in Winnipeg. “The market […] Read more

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