The ICE Futures canola market held rangebound during the week ended Oct. 20, with historically wide crush margins and supportive underlying fundamentals still not enough to break values out of their sideways pattern. However, there were some bullish technical signs hinting a turn higher could be in the works. Intermonth spreading accounted for much of
Bullish signals loom large over rangebound canola trade
Supplies in the commercial pipeline remain large for now
ICE weekly outlook: Sideways canola market due for a move
MarketsFarm – The ICE Futures canola market largely held within its well-established sideways trading range during the week ended Oct. 26, with only the nearby November contract breaking higher as short-covering ahead of its expiry gave the month a boost. The January contract has held in a narrow range between C$860 and C$880 per tonne
Canola futures remain rangebound for now
Recent weakness in the loonie is supportive for exports
The ICE Futures canola market held rangebound through the first half of October after running into the top end of its months-long trading range. There are plenty of reasons why canola could break higher, but the market doesn’t operate in a vacuum and continued steadiness or even a move lower are also possibilities. The nearby
Strong prices but slow start to fall cattle run
Lack of trucking capacity weighs on the market
Manitoba’s cattle auctions were busy during the first week of October as the seasonal fall run slowly picked up steam. The solid numbers led to pressure on some classes, while persistent trucking issues remain a concern. Overall, the market remained strong, with prices generally well above levels at the same time a year ago. Lighter-weight steers under 500
Weekly Canadian canola exports climb higher
MarketsFarm – An influx of freshly harvested supplies saw weekly Canadian canola exports hit their highest level in nearly two years at the end of September 2022, according to the latest Canadian Grain Commission report. The 300,500 tonnes of canola exported during the week ended Oct. 2 marked the first time exports topped 300,000 tonnes
Market-moving factors go beyond fundamentals
Recession fears and Black Sea export worries sway commodities
Canola futures climbed higher during the week ended Sept. 22, as historically wide crush margins finally showed signs of correcting themselves. Crush margins relative to the November contract rose above $300 per tonne during the week, indicating canola futures values had considerable room to the upside while still being profitable for buyers. Crush margins around
Canola slips below psychological supports
Demand from end users may be less aggressive these days
ICE Futures canola contracts moved lower during the first week of September, falling below psychological chart support as harvest operations progressed across the Prairies amid relatively favourable weather. While there were many areas of concern during the growing season and the bulk of the canola harvest is still far from the bin, it’s fairly safe to say that
Weather uncertainty holds canola values within range
Development of many prairie crops is two weeks behind normal
The ICE Futures canola market was trending higher during the week ended Aug. 11, but was still rangebound. The November contract has traded within a broad range of $780-$900 per tonne over the summer so far, with little to suggest a break one way or the other could be possible without an outside catalyst. Rather, market participants are
Grains and oilseeds see volatile week
Ukraine deal and Pelosi visit to Taiwan both factor into market moves
The grain and oilseed markets saw choppy activity during the first week of the 2022-23 crop year, with canola down and up in reaction to several outside forces. On the whole, canola prices ended back around where they closed the 2021-22 crop year, with attention back on weather conditions ahead of the harvest. Ukrainian grain
ICE weekly outlook: Weather at forefront for canola futures
MarketsFarm – Canola contracts on the ICE Futures platform saw some large moves over the past week, initially moving higher in sympathy with the United States soy complex before taking back most of those gains as both markets reacted to shifting weather forecasts. Showers continue to pop up across the U.S. Midwest, despite the longer-range
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