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Canola

ICE November 2022 canola (candlesticks) with 20-day moving average (yellow line, right column) and NYMEX November 2022 West Texas intermediate crude (black line, left column). (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Canola shouldn’t fall hard

Loonie keeping oilseed off sharper decline

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MarketsFarm — As Malaysian palm oil futures tumbled to 20-year lows during the week of Sept. 26, they have put a lot of pressure on canola prices, analyst Errol Anderson of ProMarket Communications in Calgary said. However, he said, the Canadian dollar has been the backstop that kept the oilseed from falling with palm oil. […] 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 2022 canola (candlesticks) with 100-day moving average (green line) and Bollinger bands (20,2). (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Canola futures continue trending lower

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MarketsFarm — ICE Futures canola contracts saw some choppy activity during the week ended Wednesday, but the general trend remains pointed lower. “Whenever canola rebounds, it doesn’t go as high,” analyst Errol Anderson of Pro Market Communications in Calgary said. Anderson described the chart pattern as a “falling top,” with previous attempts at recovery in […] Read more
ICE November 2022 canola (candlesticks) with Bollinger bands (20,2). (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Canola trending lower

November down below $800

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MarketsFarm — ICE Futures canola contracts moved lower during the week ended Wednesday and could be due for more weakness as seasonal harvest pressure picks up over the next few weeks. “That $800 level has been a very important price support point,” said David Derwin, commodities investment advisor with PI Financial in Winnipeg, pointing to […] Read more
The World Trade Organization (WTO) headquarters in Geneva, Switzerland on Oct. 28, 2020. (Photo: Reuters/Denis Balibouse)
Canola, Crops, Reuters

Canada, China agree to suspend WTO canola dispute

Lifting of canola ban renders case moot

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Berlin | Reuters — Canada and China have agreed to suspend proceedings against Chinese measures affecting the importation of Canadian canola seed, according to a World Trade Organization (WTO) complaint on Thursday. The WTO Dispute Settlement Body (DSB) panel suspended its work as of Tuesday, the complaint said. Work can be suspended at any time […] Read more
ICE Futures November 2022 canola (candlesticks) with Bollinger bands (20,2). (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Crush margins guiding canola demand

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MarketsFarm — Enormous canola crush margins will lead to increased demand for the Canadian oilseed, according to MarketsFarm’s director of markets and weather Bruce Burnett. As of Tuesday, the nearby November-October margins were estimated at $215.51 per tonne, while the same position for November-October 2023 now stands at $124.48/tonne. This time last year their margins […] Read more
ICE November 2022 canola (candlesticks) with Bollinger bands (20,2) and 100-day moving average (green line). (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Time gap too large in StatCan report

Canola's potential yields shrank in meantime

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MarketsFarm — There has been about a one-month gap in between Statistics Canada having gathered its data for next week’s principal crops report and actually releasing the report. That’s something trader Ken Ball of PI Financial in Winnipeg finds irksome. “They’re using computer models of some kind. You would think they could get this out […] Read more

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