ICE Canola Backs Away From Early Gains

By Phil Franz-Warkentin, Commodity News Service Canada
Dec. 17, 2012
Winnipeg – Canola contracts on the ICE Futures  Canada platform were mostly weaker at 10:37 CST Monday, backing away  from earlier gains as losses in the US grains and oilseeds spilled  over to weigh on values.
Canola initially moved higher in overnight activity, as gains  in the CBOT soy complex and a move above nearby chart resistance  provided support. However, losses in CBOT corn and wheat spilled over  to the oilseeds and the resulting losses in the US futures weighed  on canola as well, according to a broker.
Intermonth spreading accounted for most of the volumes in  canola, as traders were busy rolling out of the January contract ahead  of the New Year and holiday slowdown.
Firmness in the cash market, a lack of significant farmer  selling, solid end user demand, and ongoing concerns over tightening  supplies in western Canada did provide underlying support for canola,  according to participants.
At 10:37 CST, about 13,000 canola contracts had changed hands  with intermonth spreading behind the majority of the activity.
Durum futures were holding steady, with a handful of contracts  traded. Milling wheat and barley were both untraded and unchanged.

Commodity futures

Futures Prices as of April 23, 2014

Canola Price Change
January597.200.80
March594.000.50
May593.500.10
Milling Wheat Price Change
March290.50
May293.50
Durum Price Change
March312.40
May316.40
New Barley Price Change
March248.00
May249.00

Prices are in Canadian dollars per metric ton

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