(Dave Bedard photo)

ICE weekly outlook: Canola trades on weather

CNS Canada — It’s the time of year when canola prices closely follow the weather, and while recent rain has caused some losses, the market could hold onto its premium. “In some ways you could say it’s a classic weather market,” said Jon Driedger, senior market analyst at FarmLink Marketing. Prices had gained following dryness

(Dave Bedard photo)

ICE weekly outlook: Canola market at mercy of weather

CNS Canada — ICE Futures Canada canola contracts climbed higher during the week ended Wednesday, following gains in the U.S. soy market. The dominant November canola contract posted a gain of $28.70 per tonne. That lifted it above major resistance to settle at $510.80. Prices were also boosted by concerns that rising temperatures in Western


canola field in bloom

Canola futures plummet ahead of StatsCan report

Traders’ acreage estimates lean toward bearish levels

ICE Futures Canada canola contracts dropped hard during the week ended June 23, hitting some of their lowest levels in months. The biggest losses were in the new-crop months, with improving crop weather and declines in the U.S. soy complex behind some of the selling pressure. The nearby July contract lagged to the downside, as



Dry conditions on Prairies support ICE canola futures

Dry conditions on Prairies support ICE canola futures

USDA’s WASDE report painted a clearer supply picture

The canola market edged higher on the week as investors short-covered in the face of weather concerns in Western Canada. Positioning into a report from the U.S. Department of Agriculture was also a feature, though the data was less of a market mover than weather-based influences. Ahead of the weekend, traders were looking for rain,




Bullish stocks data from StatsCan lifts canola

Bullish stocks data from StatsCan lifts canola

Concerns remain over canola still out on the fields

The ICE Futures Canada canola market’s dominant July contract finished roughly $5 higher during the week ended May 5, after fund buying and a bullish stocks report lifted values out of their doldrums. Statistics Canada pegged domestic canola supplies at 6.567 million tonnes as of March 31, below most analysts’ expectations. That amount is roughly



Rapeseed field and sun

Trade’s focus shifts to new-crop canola prospects

Facing tight old-crop supply, demand remains strong

The ICE Futures Canada canola market went in two directions during the week ended April 28, with the July/November spread narrowing in considerably. Speculators, adjusting positions, accounted for much of the activity during the week, especially in the May contract as traders exited that month before expiry. The old-crop July contract lost roughly $5 per