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Tag Archives ICE Futures

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

ICE weekly outlook: Seasonal upturn possible for canola

'Good underlying support' seen in futures

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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 November 2022 canola (candlesticks) with 100-day moving average (green line) and Bollinger bands (20,2). (Barchart)
Crops, Markets

ICE weekly outlook: Canola futures continue trending lower

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MarketsFarm — ICE Futures canola contracts saw some choppy activity during the week ended Wednesday, but the general trend remains pointed lower. “Whenever canola rebounds, it doesn’t go as high,” analyst Errol Anderson of Pro Market Communications in Calgary said. Anderson described the chart pattern as a “falling top,” with previous attempts at recovery in
(Dave Bedard photo)
Crops, Markets

Funds add to bearish bets in canola

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MarketsFarm — The speculative net short position in the ICE Futures canola market grew during the week ended Tuesday, as fund traders added more bearish bets, 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
ICE November 2022 canola (candlesticks) with Bollinger bands (20,2). (Barchart)
Crops, Markets

ICE weekly outlook: Canola trending lower

November down below $800

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MarketsFarm — ICE Futures canola contracts moved lower during the week ended Wednesday and could be due for more weakness as seasonal harvest pressure picks up over the next few weeks. “That $800 level has been a very important price support point,” said David Derwin, commodities investment advisor with PI Financial in Winnipeg, pointing to
ICE Futures November 2022 canola (candlesticks) with Bollinger bands (20,2). (Barchart)
Crops, Markets

ICE weekly outlook: Crush margins guiding canola demand

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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
Delays in spring seeding on the eastern Prairies put this year’s canola crop behind the usual pace, making fall frost more of a concern.
Grain Markets, Markets

Canola unlikely to see rebound

A new StatsCan crop report is due out next week

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Ahead of the next principal field crop report from Statistics Canada, there’s some speculation that the 2022-23 canola crop could come in below 19 million tonnes. The thinking is some areas of the Prairies have received too much moisture, while other parts of the region didn’t get near enough. There was a suggestion that any
ICE November 2022 canola (candlesticks) with Bollinger bands (20,2) and 100-day moving average (green line). (Barchart)
Crops, Markets

ICE weekly outlook: Time gap too large in StatCan report

Canola's potential yields shrank in meantime

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MarketsFarm — There has been about a one-month gap in between Statistics Canada having gathered its data for next week’s principal crops report and actually releasing the report. That’s something trader Ken Ball of PI Financial in Winnipeg finds irksome. “They’re using computer models of some kind. You would think they could get this out

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