Canola sinks below $500 under technical pressure

Canola sinks below $500 under technical pressure

Unharvested canola crops add a layer of uncertainty

ICE Futures Canada canola futures continued to lose ground on the charts with the front-month May contract dropping from $503.70 per tonne on March 17 to $482.50 by the close on March 24. Funds were liquidating long positions and moving to the short side while others bailed as the dominant contract sunk below the psychologically

Canola drops below chart support with fund selling

Canola drops below chart support with fund selling

North America’s weather is poised to become a factor

The ICE Futures Canada canola market ignored St. Patrick’s Day during the week ended March 17, with no green on any of the board as prices fell below major chart support. The May contract dropped below the 200-day moving average, at $508 per tonne, which brought in additional fund selling and saw values hit their



(Dave Bedard photo)

ICE weekly outlook: Canola pointed lower

CNS Canada — ICE Futures Canada canola contracts saw a bit of a corrective bounce on Wednesday but their overall trend remains pointed lower, with the winter highs possibly in for now, according to an analyst. “The technical and the fundamentals are pointing down,” said Errol Anderson of Pro Market Communications in Calgary, pointing to


Get ready to sell new-crop canola soon, Thomas Mielke of Oil World, told farmers at Ag Days in Brandon Jan. 17.

Consider selling new-crop canola soon — more than usual

Thomas Mielke of Oil World warns a jump in palm oil production will push world canola prices down later 
and canola prices could decline by early this spring in anticipation

Canadian canola growers should consider selling new-crop canola soon and perhaps more than they would normally this early, says Thomas Mielke, executive director of Oil World, a German-based publication covering world vegetable oil and meal markets since 1958. “We all know these high prices (of around $500 a tonne on the Winnipeg futures market) cannot