ICE November 2022 canola (candlesticks) with 20-day moving average (yellow line, right column) and NYMEX November 2022 West Texas intermediate crude (black line, left column). (Barchart)

ICE weekly outlook: Canola shouldn’t fall hard

Loonie keeping oilseed off sharper decline

MarketsFarm — As Malaysian palm oil futures tumbled to 20-year lows during the week of Sept. 26, they have put a lot of pressure on canola prices, analyst Errol Anderson of ProMarket Communications in Calgary said. However, he said, the Canadian dollar has been the backstop that kept the oilseed from falling with palm oil.

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

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

ICE weekly outlook: Crush margins guiding canola demand

MarketsFarm — Enormous canola crush margins will lead to increased demand for the Canadian oilseed, according to MarketsFarm’s director of markets and weather Bruce Burnett. As of Tuesday, the nearby November-October margins were estimated at $215.51 per tonne, while the same position for November-October 2023 now stands at $124.48/tonne. This time last year their margins







(Photo courtesy Canola Council of Canada)

Canadian canola crush sets new monthly record

MarketsFarm — Canadian oilseed crushers set a new monthly record for processing canola in December 2019, crushing 899,301 tonnes of the crop during the month, according to the latest data from Statistics Canada. The crush pace was up by 70,000 tonnes from November and compares with the previous record of 882,301 tonnes, set just two