ICE July 2023 canola with Bollinger bands (20,2). (Barchart)

ICE weekly outlook: Weather to influence canola price movement

Short-covering seen supporting front months for now

MarketsFarm — Canola contracts on the ICE Futures platform held relatively rangebound during the week ended Wednesday, trading within a $20 per tonne range in most months as market participants wait to get a better handle on new-crop prospects. “There’s some concern developing on seeding delays,” said Jamie Wilton of RJ O’Brien in Winnipeg, adding


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

ICE weekly outlook: Rising canola market runs into resistance

Resistance seen around $835, support around $820

MarketsFarm — ICE Futures canola contracts moved higher during the week ended Wednesday, but ran into some resistance to the upside as values held rangebound overall. “Technicals, short-covering, fund buying and a lack of selling,” were all providing support during the week along with spillover from advances in Chicago soyoil, according to Jamie Wilton of

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

ICE weekly outlook: Choppy trading for canola, other oilseeds

Signals not pointing to course change for now

MarketsFarm — Expect canola and other oilseed markets to remain choppy for the time being, according to trader Ken Ball of PI Financial in Winnipeg. “All of the markets are very choppy and erratic. They’re very nervous markets,” Ball emphasized, noting war in Ukraine and drought in Argentina are having some of the biggest impacts


ICE November 2022 canola (candlesticks) with Bollinger bands (20,2). (Barchart)

ICE weekly outlook: Seasonal upturn possible for canola

'Good underlying support' seen in futures

MarketsFarm — ICE Futures canola contracts may soon be due for a seasonal turn higher as harvest pressure subsides and prices should be looking very attractive to end users. However, uncertain outside influences will still dictate the overall direction. “The field certainly gets muddied by issues of geopolitics,” said MarketsFarm analyst Mike Jubinville, pointing to