ICE November 2020 canola with 20-, 100- and 200-day moving averages. (Barchart)

Canola futures testing chart resistance

November canola briefly topped $480 Monday

MarketsFarm — Recent price activity in the ICE Futures canola market has been bullish from a technical standpoint, with the futures poised for a break higher if the rally can be sustained. After trading at a low of $468.10 per tonne in late June, the November canola contract rallied to briefly trade above the psychological

(Dave Bedard photo)

Fund short position edging down in canola

MarketsFarm — The managed money net short position in canola saw a slight reduction in mid-June, as speculators covered short positions in the market, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). The net managed money short position in ICE Futures canola came in Tuesday at



(Dave Bedard photo)

Net short position reduced in canola

MarketsFarm — Rising futures prices saw speculators exiting short positions in canola and adding to a growing net long in soybeans, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). The net managed money short position in ICE Futures canola came in at 38,738 contracts on Tuesday,



ICE Futures May 2020 canola (candlesticks) and CBOT May 2020 soybean oil (yellow line). (Barchart)

ICE weekly outlook: Canola gains strength at midweek

MarketsFarm — After showing considerable weakness in prior trading sessions, canola contracts tried to regain some ground at midweek. Ken Ball of P.I. Financial in Winnipeg said canola was oversold due to bearish sentiments from outside markets earlier in the week, but prices were steadily bouncing back. Nearby ICE Futures canola was down Monday by


(Dave Bedard photo)

Saskatchewan crop insurance deadline pushed to mid-April

Governments offer farmers 'flexibility'

The month-end deadline for Saskatchewan farmers to finalize contracts with the provincial Crown crop insurance agency for 2020 has been moved to April 13. Provincial Agriculture Minister David Marit and federal Ag Minister Marie-Claude Bibeau on Monday announced the extension on farmers’ deadline to “apply, reinstate, cancel or make changes” to crop insurance contracts. “We

ICE Futures May 2020 canola with 20-day moving average and CBOT May 2020 soyoil (red line). (Barchart)

ICE weekly outlook: Volatility hampers canola

MarketsFarm — Canola values have been at the mercy of volatile financial markets this week, trading in lockstep with headlines of plummeting crude oil values and stock indices. “We’re getting into a bit of a pattern in the markets,” Ken Ball of P.I. Financial in Winnipeg said, explaining that prices will show some strength, then



ICE Futures May 2020 canola with 20-, 50- and 100-day moving averages. (Barchart)

ICE weekly outlook: Canola values stuck in a range

MarketsFarm — Canola prices came off of the long weekend in the green, but quickly gave back those gains at midweek, remaining stagnant and rangebound. While rail blockades across the country have hampered rail activity and backed up grain shipments, cold weather has slowed down farmer movement for canola. That has insulated canola prices from