|By Terryn Shiells, Commodity News Service Canada|
|August 20, 2012|
|WINNIPEG – Canola futures on the ICE Futures Canada platform were trading at stronger price levels at 8:43 CDT Monday, with only the November contract seeing any volume.
Some of the early support in canola was generated by the advances seen in the CBOT soybean complex, traders said.
Strong demand and forecasts calling for drier weather in growing regions across the US Midwest were responsible for most of the upward price action seen in CBOT soybeans.
Advances during overnight trade in European rapeseed futures also supported canola futures Monday morning, participants said.
Steady domestic crusher demand also helped canola futures move to the upside, market watchers said.
However, firmness in the Canadian dollar, as it remained above parity with its US counterpart, limited the advances in canola.
Continued farmer deliveries into the cash pipeline and pressure from the advancing canola harvest in western Canada were also tempering the gains, industry officials said.
Activity was very light on Monday morning. As of 8:43 CDT, only about 200 canola contracts had traded.
Milling wheat, durum and barley were untraded and unchanged.
|Nov||611.10||up 3.00 Jan 612.40 unch Mar 614.30 unch Milling Wheat Oct 293.00 unch Dec 298.60 unch Durum Oct 299.20 unch Dec 303.70 unch Barley Oct 264.50 unch Dec 269.50 unch|
Futures Prices as of May 17, 2013
Prices are in Canadian dollars per metric ton