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When the loonie rises it can quickly wipe out what otherwise would have been market gains.
Grain Markets, Markets

As always, canola follows soyoil, loonie

Right now this well-established relationship is calling many of the shots

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It’s the same old, same old when it comes to the relationship between the values for canola, soyoil and the Canadian dollar. Soyoil and the dollar are the leaders and canola is the follower. Over the course of last week that relationship was quite evident. After the November canola contract closed on July 10 at $479.50 per tonne, it
ICE November 2020 canola with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets

ICE weekly outlook: Canola mixed at midweek

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MarketsFarm — Canola contracts have stayed locked in a pattern for the past few trading sessions, with the July contract posting small gains and new crop year contracts showing losses. That’s mainly due to traders positioning ahead of July’s expiry date. “It’s not uncommon for the July expiry to see some spreads swing around,” said
ICE July canola with 20- and 100-day moving averages and CBOT July 2020 soyoil (blue line). (Barchart)
Crops, Markets

ICE weekly outlook: Canola steady at midweek

Spring seeding more or less underway

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MarketsFarm — After showing considerable strength in prior trading sessions, canola contracts were either side of unchanged at midweek. David Derwin of P.I. Financial in Winnipeg said canola was holding steady in comparison to other vegetable oils. “There’s general weakness in other markets, but canola hasn’t had too much of a move,” he said. Considerable
ICE Futures May 2020 canola (candlesticks) and CBOT May 2020 soybean oil (yellow line). (Barchart)
Crops, Markets

ICE weekly outlook: Canola gains strength at midweek

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MarketsFarm — After showing considerable weakness in prior trading sessions, canola contracts tried to regain some ground at midweek. Ken Ball of P.I. Financial in Winnipeg said canola was oversold due to bearish sentiments from outside markets earlier in the week, but prices were steadily bouncing back. Nearby ICE Futures canola was down Monday by
ICE May 2020 canola with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets

ICE weekly outlook: Canola loses strength at midweek

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MarketsFarm — ICE Futures canola contracts succumbed to pressure from comparable vegetable oils at midweek, after showing strength earlier in the week. Ken Ball of P.I. Financial said lower soyoil values put canola “under tremendous pressure.” Nearby soyoil contracts were down by about a penny on Wednesday. Earlier in the week, rumours swirled regarding the
CBOT May 2020 soybeans with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets

U.S. grains: Corn, soy, wheat book multi-month lows

Financial markets continue to drag commodities lower

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Chicago | Reuters — U.S. grain and soybean futures sank to multi-month lows on Monday on worries about the coronavirus pandemic denting the global economy and chilling end-user demand for commodities, traders said. “The fear is still that it will only get worse as the week unfolds,” said Mark Schultz, chief analyst at Northstar Commodity
ICE Futures May 2020 canola with 20-day moving average and CBOT May 2020 soyoil (red line). (Barchart)
Crops, Markets

ICE weekly outlook: Volatility hampers canola

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MarketsFarm — Canola values have been at the mercy of volatile financial markets this week, trading in lockstep with headlines of plummeting crude oil values and stock indices. “We’re getting into a bit of a pattern in the markets,” Ken Ball of P.I. Financial in Winnipeg said, explaining that prices will show some strength, then
CBOT March 2020 wheat with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets

U.S. grains: Soybeans rise for third session

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Chicago | Reuters — U.S. soybean futures rose modestly on Wednesday as strength from global equity markets and soyoil futures offset worries about export demand for U.S. oilseeds, traders said. Wheat futures firmed on technical buying. But corn drifted lower in rangebound trade as uncertainty about demand hung over the market. Chicago Board of Trade

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