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Tag Archives ICE Futures

ICE November 2023 canola with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets

ICE weekly outlook: Canola futures looking for bottom

Crushing pace remains aggressive

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MarketsFarm — ICE Futures canola contracts fell to their lowest levels in three and a half months during the week ended Wednesday, taking some direction from Chicago soyoil as harvest activity winds down across the Prairies. Losses in other markets, including Malaysian palm oil and European rapeseed futures, added to the declines in canola. “Everybody
File photo of vessels on the Mississippi River south of New Orleans on Nov. 5, 2017. (Dave Bedard photo)
Grain Markets

Plenty of upside now for canola

FUTURES | But a lot of harvesting, and harvest price pressure, is still to come

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Harvest pressure, combined with a selloff by the funds, continued to bring down canola prices for the week ended Sept. 28 — but, just like the outlook for early fall temperatures for the Prairies, it’s anyone’s guess whether they’ll go up or down. The ICE Futures November canola contract dropped $9.80 per tonne to close
ICE November 2023 canola with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets

ICE weekly outlook: Canola looking for a spark

Recent declines in crude oil, diesel seen as bearish

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MarketsFarm — The ICE Futures canola market hit its lowest levels in three months on the last trading day of September but has since uncovered some support in the first days of October. Canola “has found a level where it’s stabilized, but there’s not a lot of life right now,” said Ken Ball of PI
An initial swath in a canola field north of St. Adolphe on Sept. 17.
Grain Markets

Virtually no support for canola values

FUTURES | Vegetable oils and crude oil seem to have gone separate ways

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ICE Futures canola was struggling in mid-September as a general selloff in commodity futures, as well as equities, pulled down prices. The nearby November contract fell to $725.30 per tonne on Sept. 21, as it busted through its support level of $730. There were a number of other factors in canola’s slide, one being harvest
ICE November 2023 canola with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets

ICE weekly outlook: Canola ‘due for a bounce’

Weather co-operating, mostly, for Prairie harvesting

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MarketsFarm — A month-long decline of ICE Futures canola prices, which saw the oilseed lose $110 per tonne, came to an end and was followed by a bounce-back. While the price of the November canola contract still declined by $10/tonne to $726.10 during the week ended Wednesday, it hit its lowest price since the end
(File photo by Dave Bedard)
Crops, Markets

Funds flip back to net short in canola

Trade remains net long in soybeans, for now

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MarketsFarm — The overall fund position in ICE Futures canola flipped from a net long to a net short during the week ended Tuesday, marking the first net short position in the commodity in just over two months, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As
ICE November 2023 canola with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets

ICE weekly outlook: Which way will canola go?

Basis levels have recently improved

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MarketsFarm — As September winds down, ICE Futures canola is poised to either climb higher or fall back, according to analyst Errol Anderson, president of ProMarket Communications in Calgary. That movement will largely be determined by the direction taken by November soybeans on the Chicago Board of Trade, which currently has support at US$13 per
(Dave Bedard photo)
Crops, Markets

Fund long position drops in canola

Net long in CBOT soybeans also down on week

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MarketsFarm — Fund traders have been busy liquidating long positions and putting on new bearish canola bets in early September. The net managed money long position in the ICE Futures market dropping sharply during the week ended Tuesday (Sept. 12), according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission
Values for new-crop canola futures tend to continue lower as the crop comes in fresh off the fields.
Grain Markets, Markets

Harvest puts canola in the red

Ultimately the condition of the crop could halt slide

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Canola fields can be recognized simply by the seas of bright, day-glow yellow flowers atop green stalks before they are combined in late summer and early fall. But since Labour Day, ICE Futures canola has taken on a reddish hue. After trading rangebound during the final week of August, canola returned from the long weekend

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