Traders also have a wary eye on U.S. Midwest weather
Canola futures fell hard during the week ended March 8, hitting their lowest levels in more than two years as concerns over Chinese demand came to the forefront. Over the past few months, rumblings that Chinese demand was waning and Canadian exporters were facing extra hurdles moving canola to the country had been growing louder. […] Read more
U.S. traders remain cautious with no trade deal yet set
ICE Futures canola contracts crashed and burned during the week ended March 1, hitting fresh lows in the front months every day of the week. Concerns over Chinese demand coupled with bearish technical signals accounted for much of the selling pressure. While Canadian political attention was largely on other matters during the week, the simmering […] Read more
World wheat carry-out is expected down from 2017-18 size
ICE canola futures fell to fresh contract lows during the week ended Feb. 22, but did manage to find some support to the downside as values eventually consolidated near the bottom edge of their long-term trading range. The focus in the futures has shifted from the March contract to the May, with intermonth spreading a […] Read more
Assorted drama in the U.S. added a cautious tone to trade
ICE Futures canola contracts trended lower in the front months during the week ended Feb. 15, moving below chart support in the process as a number of factors conspired to weigh on values. The nearby March contract fell below the psychological $480-per-tonne level on Feb. 14, setting the stage for a test of the nearby […] Read more
Minneapolis wheat and Chicago and K.C. wheat futures go separate ways, for now
Western Canadian wheat bids were mixed during the week ended Feb. 14, with a steady tone in Canada Western Red Spring (CWRS) bids and losses in Canada Prairie Spring Red (CPSR) as U.S. futures moved in opposite directions and the Canadian dollar weakened slightly. Average CWRS (13.5 per cent protein) wheat prices were steady to […] Read more
Healthy crush margins should keep processors rolling steady
ICE Futures canola contracts held within a narrow range during the week ended Feb. 8, but trended higher overall, with a weaker tone in the Canadian dollar providing some support. The currency lost roughly a full cent relative to its U.S. counterpart over the course of the week, settling at 75.36 U.S. cents on Feb. […] Read more
Market watchers await upcoming data dumps from USDA
ICE Futures canola contracts trended lower for most of the week ended Feb. 1 as a number of factors conspired against them. However, prices remain rangebound overall and the market managed to end the week on a minor positive note. The nearby March contract lost roughly $6 per tonne during the last week of January, […] Read more
New estimates call for a one per cent rise in canola acres
ICE Futures canola contracts trended higher over the course of the week ended Jan. 25, as the market saw a chart-based recovery off of the yearly lows hit the previous week. However, canola remains rangebound and sluggish overall, largely taking its influence from activity in outside commodity and financial markets. Trade uncertainty kept a cautious […] Read more
CME live cattle futures head toward their 12-month highs
Manitoba cattle auctions were busy during the week ended Jan. 18, with solid prices for the large numbers moving through the rings in most locations. About 4,700 head of cattle were marketed in the province’s major auction yards during the week, up considerably from the previous week as activity picked up following the holidays. “There’s […] Read more
A lack of USDA reports adds an ongoing air of uncertainty
Canola contracts on the ICE Futures platform moved lower during the week ended Jan. 11, nearing major chart support as a number of factors conspired against the commodity. Losses in the Chicago Board of Trade soy complex were a major bearish influence on canola, as uncertainty over Chinese demand and looming South American crops weighed […] Read more
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