Food Industry
Industry: Email Alert RSS FeedICE Canada Weekly Outlook: Canola Consolidating.
Resource News International, March, 2008
Byline: Dwayne Klassen, Resource News International
WINNIPEG, MB, Mar 26, 2008 (Resource News International via COMTEX) -- Canola contracts at ICE Futures Canada were C$25.20 to C$27.00 per metric ton higher during the week ended March 26. Oversold price sentiment, strong global vegetable oil markets and the total absence of farmer deliveries into the cash market, provided canola with much of its upward price momentum.
"We have seen canola futures bounce back over the past few sessions, but I think the renewed interest in the commodity is just about done," Mike Jubinville, an analyst with the farmer advisory service, ProFarmer Canada said. "Canola appears as if it wants to consolidate some at these levels and give itself some time to figure out...
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