CNS Canada — After hitting a contract high Monday, the ICE Futures Canada July canola contract subsequently turned decidedly lower to form a key reversal pattern from a chart perspective. July canola hit a high of $539.50 per tonne Monday, but settled right around where it started, near the lows of the day, at $536.70.
CNS Canada –– The ICE Futures Canada July canola contract has run into resistance from a chart standpoint and nearby technical signals look neutral to bearish. The contract fell from two-month highs the past two sessions, settling right at the 20-day moving average Thursday around $518 per tonne. Prior to Wednesday’s selloff the contract was
CNS Canada — ICE Futures Canada canola contracts rose during the week ended Wednesday, as strong advances in U.S. soy overpowered resistance cast on the market by the stronger Canadian dollar. The canola market “was able to get some support from the soy action but the Canadian dollar has taken most of it away… it’s