ICE weekly outlook: Canola rides soymeal wave higher

CNS Canada — ICE Futures Canada canola contracts rode the coattails of a surging soymeal market during the week ended Wednesday, but one big rain in Argentina could halt the rally in its tracks. “If there’s more rain in the forecast we will lose ground,” said Mike Jubinville of ProFarmer Canada. “The attitude is the





(Photo courtesy Canola Council of Canada)

Canadian canola crush sets new weekly record

Canada’s canola crush hit a new weekly record during the week ended Wednesday, with processors across the country operating at nearly full capacity. The canola crush during the week ended March 22 came in at 208,268 tonnes, according to the most recent Canadian Oilseed Processors Association report. That puts the crush capacity utilization for the






ICE weekly outlook: Canola runs into headwind

CNS Canada — ICE Futures Canada canola contracts are running into major upside resistance from a chart standpoint, with a turn lower more likely than additional gains in the near term. “The demand component for canola remains quite strong, although domestic crush margins have diminished,” said Mike Jubinville of ProFarmer Canada. Soyoil futures at the

(Photo courtesy Canola Council of Canada)

Canola crush margins tumble

CNS Canada — Canola crush margins dropped by more than $30 per tonne over the past two weeks, which may be putting a damper on end-user demand. As of Thursday, the Canola Board Crush Margins calculated by ICE Futures Canada were at about $100 above the March contract, which compares with levels only two weeks