Winnipeg (CNS Canada) – ICE Futures canola contracts were weaker on Thursday, as bearish chart signals and ideas that the commodity remains expensive compared to other oilseeds weighed on prices. Relatively favourable Prairie crop conditions added to the softer tone, despite lingering concerns over excessive dryness in some areas excessive moisture in others. Updated supply/demand […] Read more
Phil Franz-Warkentin
Stories by Phil Franz-Warkentin
Soybeans futures weakest in 10 years
Winnipeg – ICE Futures canola contracts were down sharply on Wednesday, as heightened world trade tensions had speculators firmly on the sell side of the market. The ongoing trade war between the United States and China saw the U.S. announce it was considering placing 10 per cent tariffs on an additional US$200 billion worth of […] Read more
ICE canola weekly: more downside likely
Winnipeg – ICE canola futures fell sharply lower during the week ended July 11, but could still have more room to the downside as the oilseed remains overpriced compared to the slumping United States soybean market. Mounting trade tensions between the U.S. and China led to a selloff in Chicago Board of Trade soybeans during […] Read more
Speculation pushes canola to five-month low
Winnipeg – ICE Futures canola contracts were weaker on Tuesday, with the November contract settling at its lowest level in five months as some stops were hit and speculators added to their growing net short positions. Ideas that canola was looking expensive compared to other oilseeds contributed to the selling pressure, as the losses in […] Read more
Selloff drives grain futures lower
Winnipeg – ICE Futures canola contracts were lower on Monday, taking back much of Friday’s gains as a selloff in Chicago Board of Trade soybeans weighed on prices. Speculators were noted sellers, booking profits to start the week as global trade concerns were overhanging the agricultural markets. However, canola lagged soybeans to the downside. Hot […] Read more
Canola seeding up, soybeans down
Winnipeg – ICE Futures Canada canola contracts held within a rather narrow range during the week ended June 29, with only the nearby July contract seeing some wide price swings as traders exited the front month before its expiry. Aside from the month-end spread trade, positioning ahead of a number of key reports kept activity […] Read more
Strong dollar, high acreage pushes canola down
Winnipeg (CNS Canada) – ICE Futures Canada canola contracts were mostly lower on Friday, as strength in the Canadian dollar and confirmation of large planted area weighed on values. In a report out this morning, Statistics Canada pegged canola seedings at 22.7 million acres, which was well above an earlier estimate of 21.4 million but […] Read more
Canola drops as premium disappears
Winnipeg (CNS Canada) – ICE Futures Canada canola contracts were weaker on Thursday, with the largest losses in the old crop July contract as participants bailed out of the front month. July canola started the day trading at a premium of about C$11 to November, but settled at even money. With ample old crop supplies and […] Read more
Canadian canola area likely above earlier projection
Winnipeg (CNS Canada) – Canadian farmers likely planted more canola in 2018 than initial expectations, but industry participants generally expect to see only minor adjustments when Statistics Canada releases its latest acreage estimates on June 29. “Our idea is that the canola seeded area number is higher than initially reported,” said Jon Driedger, of FarmLink […] Read more
Canola rebounds after losses
Winnipeg (CNS Canada) – ICE Futures Canada canola contracts were stronger on Wednesday, correcting from recent losses as supportive technical signals and solid end user demand provided support. Prairie weather concerns added to the firmer tone, with heat and dryness causing crop stress in some areas. However, forecasts calling for much needed rain in some […] Read more
