CNS Canada — ICE Futures Canada canola contracts moved higher over the past week, but may be running into resistance to the upside. “I’m sensing that canola is at the top end of the range,” said Errol Anderson of ProMarket Communications in Calgary, noting much of the recent strength was tied to advances in Chicago
ICE weekly outlook: Canola hits resistance
Canola trade shrugs off increase in total stocks
U.S. winter wheat conditions shook up wheat futures
ICE Futures Canada canola contracts kept within their well-established sideways trading range during the week ended Feb. 2, as the market remains stuck in its own version of the Groundhog Day movie. The nearby March contract has held within a $10 range ($490-$500 per tonne) for more than a month now, looking for a reason
Bearish factors outweigh bullish news in canola
Reduced promotional funding may weigh on canola in future
Canola contracts on the ICE Futures Canada platform held within a rather narrow range during the week ended Jan. 26, lacking any real clear direction as conflicting outside forces kept the oilseed trading sideways. On the supportive side, weather worries in Argentina and the resulting gains in Chicago soybeans provided some underlying support. Solid end-user
ICE weekly outlook: Sideways canola seeks spark
CNS Canada — ICE Futures Canada canola contracts remain stuck within a sideways trading range awaiting a spark that would push values one way or the other. “We could have had this conversation two months ago… canola is refusing to budge from a range,” analyst Mike Jubinville of ProFarmer Canada said of the lack of
Bearish factors outweigh bullish news in canola
Reduced promotional funding may weigh on canola in future
Canola futures hit some of their lowest and highest levels of the past month during the week ended Jan. 19, with the end result being a continuation of a rather choppy and sideways pattern. Canola finished the week on a high note, but there’s more bearish news than bullish in the background for now. Large
Cash oats steady despite climb in futures
CNS Canada — Oats futures at the Chicago Board of Trade have posted solid gains over the past month, but the cash market in Western Canada remains steady overall. “It’s been a nice little rally up,” said Scott Shiels, grain procurement manager with Grain Millers Canada on the 35 U.S. cents per bushel rise in
CBOT weekly outlook: Falling greenback boosts U.S. grains
CNS Canada — Soybean, corn and wheat futures in the U.S. are all seeing some strength from weakness in the U.S. dollar, and could have more room to the upside as speculators cover large net short positions. “The managed money is just looking for trades of value,” said Sean Lusk of Walsh Trading in Chicago.
Prairie grain movement not perfect, but not in crisis
CNS Canada — Canadian grain exports are moving out of the country at a similar pace as they were a year ago, but there are still some challenges along the logistical chain. “Right now we’re looking at the second largest supply of grain that we’ve ever had to move,” said Mark Hemmes, president of Quorum
Prairie wheat bids drop with U.S. futures
USDA’s outlook for record-low winter wheat acres was still above expectations
Hard red spring wheat bids in Western Canada moved lower during the week ended Jan. 12, as the futures in the U.S. fell sharply on Friday in response to bearish acreage data from the U.S. Department of Agriculture. While USDA pegged winter wheat seedings in the country at their lowest level in more than 100
Funds building large net short position in canola
CNS Canada — Fund traders are sitting on large net short positions in ICE Futures Canada canola and likely have room to add to those positions, which should keep values under pressure. While there is no official reporting on fund positions in the ICE Futures Canada market, as there is in the U.S., traders estimate
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