Photo: Greg Berg

ICE canola weekly outlook: Weak soybeans a “problem”

The ICE Futures canola market backed away from nearby highs during the week ended Oct. 16, as losses in Chicago soybeans and soyoil weighed on values. With the canola harvest in its final stages across Western Canada, the market will likely settle in a sideways range while looking to outside influences for direction.










Canola blooms near Stockholm, Sask, July 20, 2024.

Canola at $600/tonne — will it or won’t it?

Lowered StatCan estimates provide fuel for the fire in the canola market

Statistics Canada's downward revision of the Canadian canola crop led prices to increase during the week ended Sept. 19. However, it's uncertain whether the November contract will reach the psychological level of $600/tonne.