Winnipeg – ICE Futures canola contracts were weaker on Thursday, hitting fresh contract lows for the fourth straight day this week as bearish technical signals kept speculators on the sell side once again. Large supplies of unpriced canola sitting in farmers’ bins across the Prairies likely added to the softer tone, as end users are […] Read more
Phil Franz-Warkentin
Stories by Phil Franz-Warkentin
Canola, wheat finished mixed
ICE Futures canola contracts were mixed on Wednesday, with losses in the front months and a firmer tone in the more deferred positions. Bearish technical signals and speculators adding to short positions accounted for much of the weakness in the most active nearby contracts, with prices hitting fresh contract lows for the third straight session. […] Read more
Canola continues to drop
Winnipeg – ICE Futures canola contracts were weaker on Tuesday, continuing their downward slide to fresh lows. Losses in the Chicago Board of Trade soy complex, large Canadian canola supplies and bearish technical signals all weighed on values, according to participants. Speculators were noted sellers, adding to their growing net short positions as the trend lines […] Read more
Canola keeps dropping, soy up slightly
Winnipeg – ICE Futures canola contracts continued their downward slide on Wednesday, hitting fresh contract lows for the second-straight session. Speculators were noted sellers as bearish technical signals kept the bias pointed lower. Strength in the Canadian dollar, a lack of significant end user demand and steady farmer selling also weighed on values. However, a […] Read more
Oversold market still fundamentally bearish
Winnipeg – ICE canola futures are starting to look oversold after falling contract lows during the week ended Feb. 20. While a short-term technical correction is possible, the underlying fundamentals remain bearish. “Canola might be a little bit short-term oversold,” said Ken Ball of PI Financial in Winnipeg. He said signs that exports were perking […] Read more
Feed markets steady amid cold Alberta weather
Winnipeg – Excessively cold temperatures in Alberta may be causing headaches for both feed grain buyers and sellers, but prices remain relatively steady for what is moving. The cold weather hasn’t really led to a significant increase in demand, but “it’s definitely made the farmer grumpy,” said Brandon Motz, of CorNine Commodities in Lacombe, Alta. […] Read more
Wheat bids mixed in Western Canada
Winnipeg – Western Canadian wheat bids were mixed during the week ended Feb. 14, with a steady tone in Canada Western Red Spring (CWRS) bids and losses in Canada Prairie Spring Red (CPSR) wheat as U.S. futures moved in opposite directions and the Canadian dollar weakened slightly. Average Canadian Western Red Spring (13.5 percent CWRS) […] Read more
Speculative selling drops canola; wheat fairly steady
Winnipeg – ICE Futures canola contracts were weaker on Friday, finishing right above major chart support as speculators added to their net short positions. The nearby March contract settled at C$475.80, which was right above major support around C$475.00 per tonne. Large supplies and a lack of significant buying interest contributed to the declines, with […] Read more
Oils down, along with wheat
Winnipeg – ICE Futures canola contracts were weaker on Thursday, as losses in Chicago Board of Trade soybeans spilled over to weigh on values. Poor export demand and bearish technical signals contributed to the declines in canola, with the nearby March contract settling below the psychological C$480 per tonne level. A weaker tone in the […] Read more
Canola mixed; but wheat improves
Winnipeg – ICE Futures canola contracts were narrowly mixed on Wednesday, with losses in the front months and gains in the new crop contracts. Adjustments to the intermonth spreads were a feature of the activity. The July/November spread moved from an inverse to a carry position. Large old crop supplies and a lack of significant […] Read more
