“But we lost a lot of acres… which suggests to me that some organic guys have let some of their organics land go. And they are growing canola on the side,” says Laura Telford. Photo: Greg Berg

ICE Canada Weekly: Canola set to climb higher

Supplies getting tighter

Canola has been on something of a tear for about a month with increases in 16 of its last 20 sessions on the Intercontinental Exchange as of Feb. 12. Despite a great amount of political chaos surrounding all of the markets, the Canadian oilseed is poised to climb higher for the rest of February, said broker Tony Tryhuk of RBC Dominion Securities in Winnipeg, Man.










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ICE Canada Weekly: Canola could enter narrow range

Soyoil, loonie, StatCan report among supportive factors

As the turnaround in canola continued, analyst said there are three factors underpinning the swing upward. David Derwin, commodities futures advisor for Ventum Financial in Winnipeg, pointed to the gains made by soyoil futures on the Chicago Board of Trade, the weakening of the Canadian dollar, and the reduction in the canola harvest made by Statistics Canada.