ICE Canada Morning Comment: Canola reverses course, turns lower

Mixed signals from comparable oils

WINNIPEG, Jan. 21 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were pulling back on Friday morning, amid mixed signals from comparable oils. While there were gains in Chicago soyoil, soybeans and soymeal were down. As were the front months of European rapeseed with its deferred positions on the rise. Malaysian palm oil as well was

North American Grain/Oilseed Review: Canola rally continues

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Jan. 20 (MarketsFarm) – The ICE Futures canola market was up sharply for the second-straight session on Thursday, as bullish technical signals kept speculators on the buy side. A rally in the Chicago Board of Trade soy complex provided spillover support for canola, according to participants. Malaysian palm oil and


A cornfield near Victoria, about 300 km northwest of Buenos Aires, on Jan. 13. Agencies have cut back their forecasts for Argentina’s corn and soybean crops due to recent heat and drought.

Not the best week for canola

Oilseed traders’ eyes are now on South America’s forecasts

Old-crop canola ran into a tough week on ICE Futures with the nearby March contract retreating by more than $50 per tonne. Also, the May 2022 contract gave up over $40 per tonne while new-crop November remained relatively firm. Part of this pullback was that old-crop canola simply became too expensive when compared to other

ICE canola continues higher at midday

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Jan. 20 – (MarketsFarm) – The ICE Futures canola market was stronger at midday Thursday, seeing some follow-through speculative buying after Wednesday’s corrective bounce. A rally in the Chicago Board of Trade soy complex provided spillover support for canola, with strength in crude oil and uncertain South American production prospects


Canadian dollar and business outlook

By MarketsFarm WINNIPEG, Jan. 20 (MarketsFarm) – The Canadian dollar was holding relatively steady Thursday morning, seeing some continued strength after Wednesday’s move above the 80 U.S. cent level. At 8:42 a.m. CST Thursday morning the Canadian dollar was at US$0.8010 or US$1=C$1.2484 which compares with Wednesday’s close of US$0.8005 or US$1=C$1.2492. Surging Canadian inflation,

ICE Canada Morning Comment: March, May canola edge higher

Support from beans, oil

WINNIPEG, Jan. 20 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were mostly higher on Thursday morning, with gains in the front months. There’s support coming from Chicago soybeans and soyoil, along with Malaysian palm oil. European rapeseed was mixed with declines in its front months and increases in its deferred positions and Chicago soymeal was



ICE canola correcting higher

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Jan. 19 – (MarketsFarm) – The ICE Futures canola market was sharply higher at midday Wednesday, seeing a correction after recent losses as speculators moved back to the buy side. Chicago Board of Trade soybeans and soyoil futures were stronger at midday, providing spillover support for canola. Uncertainty over South


ICE Canada Morning Comment: Old crop canola turning around

Spillover from soy complex, rapeseed

WINNIPEG, Jan. 19 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were seeing gains in the old crop months on Wednesday morning, while the lightly-traded new crop November contract took a small step back. Support was coming from increases in the Chicago soy complex and sharp upticks in European rapeseed. Small advances in global crude oil

North American Grain/Oilseed Review: Canola ends mostly lower

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Jan. 18 (MarketsFarm) – The ICE Futures canola market was mixed on Tuesday, with sharp losses in the most active front months and a firmer tone in the lightly-traded new crop contracts. Chart-based selling was a feature as speculators continued to book profits on their large long positions. Improving crop