Canola market a wild toboggan ride

Canola market a wild toboggan ride

Expert's Radar: Up, down or sideways? A childhood memory gives insight

When I was 10 years old, my family lived for a year in a small community on the Labrador coast. Our house was halfway up the side of a hill and you could ride a sled from our front door down to the Atlantic Ocean, which was amazing for a Prairie boy like me. The





ICE January 2024 canola with 20-day moving average (yellow line, right column) and CBOT January 2024 soybeans (green line, left column). (Barchart)

ICE weekly outlook: Soy complex supporting canola

'Canola has been largely pulled up'

MarketsFarm — Amid falling crude oil prices, canola prices are staying strong, largely due to the Chicago soy complex, according to a Calgary analyst. Errol Anderson of ProMarket Communications has been impressed with canola’s recent rise. The January contract on ICE Futures was as low at $672 per tonne on Nov. 2 before rising to

Ending stocks of Canadian canola for 2023-24 are expected to tighten to one million tonnes.

Speculators bet against canola

Support is drawn from declines in farmer selling

The ICE Futures canola market held within a narrow trading range during the first week of October, testing downside support on several occasions as seasonal harvest pressure wound down, but the market lacked any spark to move higher. November canola found major support around $710 per tonne. Any attempts to break lower quickly ran out


ICE November 2023 canola with 20-, 50- and 100-day moving averages. (Barchart)

ICE weekly outlook: Canola futures looking for bottom

Crushing pace remains aggressive

MarketsFarm — ICE Futures canola contracts fell to their lowest levels in three and a half months during the week ended Wednesday, taking some direction from Chicago soyoil as harvest activity winds down across the Prairies. Losses in other markets, including Malaysian palm oil and European rapeseed futures, added to the declines in canola. “Everybody

“Pods can look dramatically different, either riper or less ripe, than the actual seeds, so we need to be cracking open those pods and looking at the seeds.”
 Photo: Greg Berg

ICE weekly outlook: Canola following soyoil’s lead

Stat Can's principal field crop estimates will be released on Aug. 29, may affect prices

MarketsFarm – The November canola contract rose above the C$800 per tonne mark for the first time in nearly a month during the week ended Aug. 23. However, it wasn’t without some turbulence over the last two days of trading. On Aug. 22, the November contract lost C$13.40 per tonne to close at $796.00, before