(Dave Bedard photo)

ICE weekly outlook: Canola prices could rebound

'There's nothing all that exciting to look at'

MarketsFarm — Winnipeg-based trader Ken Ball from PI Financial is cautiously optimistic that canola prices can rebound in the short term. The January canola contract closed at $702.30 per tonne on Wednesday a weekly loss of $7.40. The contract fell below the $700 level on U.S. Thanksgiving on Nov. 23, a day with little volume. […] Read more

ICE January 2024 canola with 20- and 200-day moving averages and nine-day exponential moving average. (Barchart)

ICE weekly outlook: Purely technical canola market trending up

Activity expected thin until next week

MarketsFarm — The ICE Futures canola market moved within a wide range during the week ended Wednesday, hitting some of its best levels in a month before running into resistance at the highs. With traders in the United States moving to the sidelines for the U.S. Thanksgiving holiday, activity should be thin and choppy until […] Read more



ICE January 2024 canola with 20-day moving average (yellow line, right column) and CBOT January 2024 soybeans (green line, left column). (Barchart)

ICE weekly outlook: Soy complex supporting canola

'Canola has been largely pulled up'

MarketsFarm — Amid falling crude oil prices, canola prices are staying strong, largely due to the Chicago soy complex, according to a Calgary analyst. Errol Anderson of ProMarket Communications has been impressed with canola’s recent rise. The January contract on ICE Futures was as low at $672 per tonne on Nov. 2 before rising to […] Read more