Canola Futures Trend Down on ICE Exchange

[MLamirandeRM]

Canola contracts on the Canadian ICE exchange trended lower during the week ending November 2nd. According to analysts, the downwards trend could continue given the current state of uncertainty in outside markets. The current global financial instability is preventing canola from finding its usual post-harvest strength at this time of the year. Analysts have pegged the upside resistance level for January canola at C$550/mt and the support level at C$500/mt.

[Hopperbin]

I had 12.66 off the combine for Sept. worked well, thinking I should sell 90 percent of whats left, hmmm

[ado089]

If the outside markets can keep their poop in a group I think the canola market is sitting on a spring. Low fund involvelment in grains and basis levels that are getting narrower by the day this week. Something is up, had two bins of CSCO canola originaly graded at 3.8 and 7.4% green that have all of a sudden changed to 1 and 2%. There are some major issues with canola this year and the trade is just starting to show the sings.