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Canola

ICE May 2021 canola (candlesticks) with Bollinger (20,2) bands, July 2021 canola (green line) and November 2021 canola (black line). (Barchart)
Canola, Crops, Markets

ICE weekly outlook: USDA reports could spur record canola acres

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MarketsFarm — After May and July canola contracts took hefty hits over the past the week, they skyrocketed to close out the calendar month following a pair of reports from the U.S. Department of Agriculture (USDA). The department on Wednesday issued its first survey-based prospective planting report for 2021, which called for increased acres for […] Read more
ICE May 2021 canola with 20-, 50- and 100-day moving averages. (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Canola still finding support

U.S. acreage estimates could sway futures

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MarketsFarm — The ICE Futures canola market saw some wide price swings over the week ended Wednesday, dropping by more than $50 per tonne off its contract highs in the nearby May contract before recovering to trade just a few dollars off of those levels once again. Tight canola supplies, strength in world vegetable oil […] Read more
Richardson International’s Yorkton, Sask. canola crush plant. (CNW Group/Richardson International)
Canola, Crops, Markets

Richardson to upsize Yorkton canola crush plant

Company to boost shipping and receiving, double processing capacity

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Agrifood firm Richardson International’s major canola crush plant at Yorkton in eastern Saskatchewan is set to undergo another round of upgrades which are expected to double its processing capacity. The company on Monday announced it will start work immediately on “facility upgrades and improvements” that would allow it to process over 2.2 million tonnes of […] Read more
ICE May 2021 canola (candlesticks) with 30-day moving average (green line) and CBOT May 2021 soyoil (yellow line). (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Canola’s correction likely short-lived given tight supplies

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MarketsFarm — The ICE Futures canola market ran into a profit-taking correction on Wednesday, backing away from recently-hit contract highs. While a further correction is possible, the underlying fundamentals remain supportive and canola is expected to retain its relative strength to other oilseeds. “The market needs bullish fuel, but it’s just not getting any,” said […] Read more
ICE March 2021 canola with 20-, 50- and 100-day moving averages. (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Profit-taking to pressure canola

Market appearing overdone

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MarketsFarm — ICE Futures canola contracts climbed to record highs during the week ended Wednesday as concerns over tightening old-crop supplies provided support. However, the market was looking overdone to the upside and profit-taking came forward to put some pressure on values. “The traders that are still long are playing the game of forcing the […] Read more
(Dave Bedard photo)
Canola, Crops, Markets

Funds add to net longs in canola, U.S. futures

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MarketsFarm — The large managed-money net long positions in soybean, corn and canola futures increased during the week ended Tuesday, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). Managed money fund traders were holding a net long position in ICE Futures canola of 43,967 contracts as […] Read more
ICE May 2021 canola with 20-, 50- and 100-day moving averages. (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Volatility day-to-day in bullish canola market

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MarketsFarm — The ICE Futures canola market saw some large price moves during the week ended Wednesday, hitting fresh contract highs in many months before profit-taking came forward to weigh on values. With canola trading at historically high price levels, the potential volatility in the marketplace can go to extreme levels without much explanation, analyst […] Read more

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