|By Terryn Shiells, Commodity News Service Canada|
|September 7, 2012|
|WINNIPEG – Canola futures on the ICE Futures Canada platform were trading at slightly lower price levels at 10:26 CDT Friday, following the declines in outside oilseed markets, analysts said.
Malaysian palm oil, European rapeseed and CBOT soybeans all experienced losses, which put downward pressure on canola values, market watchers said.
The upswing in the value of the Canadian dollar, as it soared further above parity with its US counterpart, also weighed on canola values, traders said.
However, strong commercial buying was evident in canola at midday Friday, which limited the declines, industry officials said.
Talk of new export business also provided some underlying support in canola, participants said.
A Statistics Canada stocks report showing canola at “very” tight levels was also “a little bit friendly” for canola values, traders said.
Volume was on the lighter side at midday Friday, with pre-weekend hedge selling at “disappointing” levels, brokers said. As of 10:26 CDT, about 5,400 canola contracts had traded.
Milling wheat, durum and barley were untraded and unchanged.
Prices in Canadian dollars per metric ton at 10:26 CDT:
|Nov||639.00||dn 1.00 Jan 643.00 dn 0.80 Mar 644.20 dn 0.70 Milling Wheat Oct 294.00 unch Dec 301.50 unch Durum Oct 305.40 unch Dec 309.90 unch Barley Oct 264.50 unch Dec 269.50 unch|
Futures Prices as of May 24, 2013
Prices are in Canadian dollars per metric ton