ICE Futures May 2020 canola (candlesticks) and CBOT May 2020 soybean oil (yellow line). (Barchart)

ICE weekly outlook: Canola gains strength at midweek

MarketsFarm — After showing considerable weakness in prior trading sessions, canola contracts tried to regain some ground at midweek. Ken Ball of P.I. Financial in Winnipeg said canola was oversold due to bearish sentiments from outside markets earlier in the week, but prices were steadily bouncing back. Nearby ICE Futures canola was down Monday by […] Read more



ICE May 2020 canola (candlesticks, in Cdn$) and CBOT May 2020 soymeal (yellow line, US$). (Barchart)

ICE weekly outlook: Loonie’s rally kept canola lower

CBOT soymeal, soyoil also drag on canola

MarketsFarm — Canola prices dropped over the last week due to a combination of factors, according to David Derwin of PI Financial in Winnipeg. The Canadian dollar was one of those factors, as it had a small rally that pushed the loonie to almost 72 U.S. cents. That rally ended Wednesday, however, when the dollar […] Read more





ICE May 2020 canola with 20-, 50- and 100-day moving averages. (Barchart)

ICE weekly outlook: Canola loses strength at midweek

MarketsFarm — ICE Futures canola contracts succumbed to pressure from comparable vegetable oils at midweek, after showing strength earlier in the week. Ken Ball of P.I. Financial said lower soyoil values put canola “under tremendous pressure.” Nearby soyoil contracts were down by about a penny on Wednesday. Earlier in the week, rumours swirled regarding the […] Read more

(Country Guide file photo)

Prairie cash wheat: Rising loonie cuts into bids

MarketsFarm — Hard red spring wheat bids in Western Canada lost ground during the week ended Thursday, as the bearish influence of a strengthening Canadian dollar more than offset supportive influence from gains in U.S. futures. Average Canada Western Red Spring (CWRS, 13.5 per cent protein) wheat prices were down $5.50-$10 per tonne, according to […] Read more