GFM Network News


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Funds add to net longs in canola, U.S. futures

MarketsFarm — The large managed-money net long positions in soybean, corn and canola futures increased during the week ended Tuesday, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). Managed money fund traders were holding a net long position in ICE Futures canola of 43,967 contracts as

(File photo by Dave Bedard)

Funds’ net long position edges lower in canola

Net long increased in MGEX and K.C. wheats

MarketsFarm — Funds’ large net long position in canola narrowed slightly during the week ended Tuesday, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). Managed-money fund traders as of Tuesday were holding a net long position in ICE Futures canola of 51,614 contracts, down by about


ICE March 2021 canola with 20-, 50- and 100-day moving averages. (Barchart)

ICE weekly outlook: WASDE spillover boosts canola

Canola may soon become price-sensitive, analyst says

MarketsFarm — Sharp increases in soybean, corn and wheat futures on Tuesday, following the release of the latest supply and demand report from the U.S. Department of Agriculture (USDA), in turn spilled over into canola. The most significant factors in USDA’s world agricultural supply and demand estimates (WASDE) were further reductions to ending stocks for

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ICE canola weekly outlook: Canola dips at midweek

MarketsFarm – ICE Futures canola contracts were weaker on Wednesday, sustaining contract prices around C$630 over the Christmas holidays. The nearby January contract closed at C$629.20 per tonne on Dec. 30, just a few pennies lower than its Dec. 23 close of C$630.90. Ken Ball of PI Financial in Winnipeg, Man., said canola prices will



(File photo by Dave Bedard)

Funds sitting on large net long in canola

MarketsFarm — The net long position fund traders are holding in canola futures remains historically large, with almost all of the managed money in the market sitting on the long side, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). Managed money fund traders as of Tuesday

ICE January 2021 canola (candlesticks) with 20-day moving average (yellow line) and CBOT January 2021 soyoil (green line). (Barchart)

ICE weekly outlook: Canola holds over $600

MarketsFarm — ICE Futures canola contracts were stronger Wednesday, hitting multi-year highs for three consecutive days. The nearby January contract closed at $602.90 per tonne on Wednesday, gaining nearly $10 since Friday’s close of $593.60. Ken Ball of PI Financial in Winnipeg said canola is expected to go higher in order to “kill off some



ICE January 2021 canola (candlesticks) with 20-day moving average (yellow line) and CBOT January 2021 soyoil (blue line). (Barchart)

ICE weekly outlook: Canola stronger at midweek

MarketsFarm — ICE Futures canola contracts were stronger on Wednesday, making up losses incurred earlier in the week. The nearby January contract closed Wednesday at $578.90 per tonne, gaining a few dollars after losing $7 in the prior day’s trade. Keith Ferley of RBC Dominion Securities in Winnipeg said canola’s losses were due to chart

ICE January 2021 canola with 20-, 50- and 100-day moving averages. (Barchart)

ICE weekly outlook: Canola stronger at midweek

MarketsFarm — ICE Futures canola contracts were stronger on Wednesday, making up losses incurred earlier in the week. The nearby January contract closed Wednesday at $545.80 per tonne, gaining over $10 since closing at $534.90 on Monday. Record-high temperatures in parts of the Prairies were part of the reason behind canola’s rally. However, temperatures are