January 2017 canola, including 20-day moving average and (in separate graph at bottom) RSI, from June through to Nov. 24, 2016. (Barchart.com)

Canola nearing chart resistance

CNS Canada –– ICE Futures Canada canola contracts have trended higher for the past two weeks, with a rally in Chicago Board of Trade soyoil providing an added boost on Wednesday. While the nearby technical signals may be pointing higher, canola is also nearing major chart resistance. The January contract closed Thursday at $527.40 per












Canola technicals rangebound

CNS Canada –– ICE Futures Canada canola contracts may have seen some weather-related strength over the past week, but technical signals remain relatively flat overall. The November contract settled Friday at $469.80 per tonne, nearing the high end of a corkscrew pattern — a series of higher lows and lower highs — going back over

(Dave Bedard photo)

ICE weekly outlook: Harvest to keep market rangebound

CNS Canada — ICE Futures Canada canola contracts have a softer tone, but are likely to stay rangebound in the short term, one analyst says. “We’re not looking for a significant breakout,” said Jerry Klassen, manager of Canadian operations with Swiss-based GAP SA Grains and Produits in Winnipeg. He pegged canola’s short-term range between $450