Egypt plans to launch commodities exchange within a year

CAIRO, (Reuters) – Egypt plans to start trading on its first commodities exchange within the next 36 to 48 weeks, Internal Trade Development Authority (ITDA) head Ibrahim Ashmawy said on Thursday. The country’s stock exchange said in October that it will form a joint venture with the Supply Ministry to manage a commodities exchange for […] Read more

Canola futures well supported: trader

WINNIPEG, (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts finished mostly higher on Wednesday, carrying on with pricing trends set earlier in the week. One Winnipeg-based trader said prices are well-supported, and have the potential to go higher. Some producers have opted to slow down on selling in anticipation of higher prices. A weaker Canadian […] Read more

Canola rebounds on weaker dollar

WINNIPEG, (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts finished stronger on Tuesday, making up for losses incurred during the previous trading session. A weaker Canadian dollar was supportive of canola prices. At midday, the dollar slipped just below 77 U.S. cents, due to a comparably stronger U.S. dollar and weakness in crude oil values. […] Read more

Canola futures drop, but show resilience

WINNIPEG, (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts finished in the red on Monday after initially starting the day stronger. One trader said canola prices had “shown some resilience” given the strong Canadian dollar and lower soyoil prices on the Chicago Board of Trade. High crush margins had encouraged buying, which supported values. However, […] Read more

Ocean freight rates trending lower

WINNIPEG – The Baltic Dry Index has fallen sharply over the past four months, dropping below 1,000 points to start the New Year. A slowdown in iron-ore activity, as high prices have had Chinese mills buying up domestic inventories rather than importing from overseas, accounted for much of the general weakness in the freight sector, […] Read more

Canola down after Baghdad drone attack affects markets

WINNIPEG, (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts finished lower Friday, due to weaker values in the Chicago soy complex. That in turn was due to the drone attack by the United States that killed a top Iranian general in Baghdad on Friday. The attack quickly increased tensions in the Middle East, which negatively […] Read more

ICE Canola Weekly: Prices could break out of range

WINNIPEG, (MarketsFarm) – With canola presently near the top end of its range, prices could break out of being range-bound in the next several days, according to an analyst. Canola has made gains over the last month or so, largely due to spillover from increasing prices for soyoil on the Chicago Board of Trade. Soyoil […] Read more

Canola starts the year with gains

WINNIPEG, (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts finished higher Thursday, due to support from Malaysian palm oil and Chicago soyoil. However an analyst said remains to be seen if canola remains range-bound. He cautioned that with low volumes trading, any moves can easily be exaggerated. The Canadian dollar weighed on values. There were […] Read more

Canola futures back away from 2-month highs

Winnipeg, (MarketsFarm) – The ICE Futures canola market settled with small losses on Monday, backing away from the two month highs hit last week as traders adjusted positions ahead of the holidays. The North American agricultural markets will close early on Tuesday, with the ICE canola market remaining closed through Christmas and Boxing Day. Trade […] Read more

Canola futures finish stronger

WINNIPEG, Dec. 20 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts finished stronger on Friday, amid light and choppy trade activity. Earlier in the week, canola values received a boost from strong trading activity and profit-taking ahead of the holidays. However, that activity has largely tapered off. Strong domestic crush margins have also been favourable […] Read more