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Tag Archives ICE Futures

ICE January 2023 canola with Bollinger bands (20,2). (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Canola’s sideways market nears low end of range

January down last six sessions

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MarketsFarm — ICE Futures canola contracts slid lower during the week ended Wednesday but remain stuck in a sideways trading range overall. The January contract has held within a range from $800 to $900 per tonne for the past five months, with the market still well within that range despite losing over $50 per tonne […] Read more
ICE January 2023 canola (candlesticks) with Bollinger bands (20,2) and ICE March 2023 canola (black line). (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Premium showing in front-month canola

'Surge' of farmer selling expected in January

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MarketsFarm — The ICE Futures canola market held rangebound during the week ended Nov. 16, with the widening premium of the nearby January contract over the March futures seen as a sign of good nearby demand. ICE January canola settled Wednesday at $882.40 per tonne, a $10.50 per tonne premium over the March contract. That […] Read more
(File photo by Dave Bedard)
Canola, Crops, Markets

Fund position switches to net long in canola

Net long in CBOT corn decreases on the week

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MarketsFarm — The overall speculative position in the ICE Futures canola market swung from net short to net long during the first week of November, marking the first time speculators were holding more longs than shorts in four months. That’s according to the latest Commitment of Traders (CoT) report compiled by the U.S. Commodity Futures […] Read more
ICE January 2023 canola (candlesticks) with 20- and 50-day moving averages. (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Trader sees canola topping $900 mark soon

Crush margins at 'very, very extreme levels'

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MarketsFarm — Despite surpassing the $900 per tonne mark at times during the week ended Wednesday, ICE Futures’ January canola contract never settled above that psychological level. Rising prices prior to the weekend later gave away to selling pressure after the weekend due to a correction in vegetable oil prices, according to broker Ken Ball […] Read more
(Dave Bedard photo)
Canola, Crops, Markets

Fund short position in canola dips to four-month low

Net long increases in CBOT soybeans

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MarketsFarm — Speculators were busy covering short positions and putting on some fresh longs in the canola market during the week ended Nov. 1. That lowered the net short position in the ICE Futures canola market to its smallest level since the beginning of July, according to the latest Commitment of Traders (CoT) report compiled […] Read more
ICE January 2023 canola (candlesticks) with Bollinger bands (20,2) and 100-day moving average (black line). (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Canola sees choppy, sideways month-end trade

Wide crush margins remain bullish

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MarketsFarm –– ICE Futures canola contracts held within a narrow range during the week ended Wednesday, lacking any clear direction with the rolling of positions out of the nearby November contract ahead of its expiry behind much of the trade volumes. “We’re stuck a little rangebound here,” a Winnipeg-based trader said of the sideways activity, […] Read more
ICE November 2022 canola (candlesticks) with 20-, 50- and 100-day moving averages (yellow, green and black lines). (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Canola’s wide crush margins supportive

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MarketsFarm — ICE Futures canola contracts backed away from nearby highs during the week ended Wednesday, but historically wide crush margins should keep the market well supported going forward. “The crush margins are unsustainably high,” said Ken Ball of PI Financial in Winnipeg, pointing to margins that currently work out to over $200 per tonne […] Read more
ICE November 2022 canola (candlesticks) with 20-, 50- and 100-day moving averages (yellow, purple and black lines). (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Rising canola prices hit a one-day thud

"There's a day where we need to take a pause"

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MarketsFarm — ICE Futures canola rose like Icarus over the past few weeks, but just like that Greek mythological figure, it flew too high, only to come back down to Earth. After the November canola contract rose in seven of its last eight sessions — in the middle of harvest, no less — and gained […] Read more
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

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