ICE Canola Higher, Following CBOT Soybeans

By Terryn Shiells, Commodity News Service Canada
December 3, 2012
WINNIPEG – Canola contracts on the ICE  Futures Canada platform were trading at firmer price levels at 8:30  CST Monday, following the advances seen in the CBOT soybean  complex, analysts said.
Much of the buying that took CBOT soybeans higher was linked  to strong export demand and the downswing in the value of the US  dollar.
Concerns about the South American soybean crop, as some areas  are in need of rain, also helped both canola and soybeans move to  higher ground.
A general “risk-on” sentiment in the market, sparked by  positive economic news out of Greece, also underpinned canola  values.
Slow farmer selling, as producers continue to wait for  stronger prices, also added to the bullish price sentiment.
Advances seen in European rapeseed futures during overnight  trade were also supportive for canola values, participants said.
As of 8:30 CST Monday, about 2,066 canola contracts had  traded.
Milling wheat, barley and durum were untraded and unchanged.
Prices in Canadian dollars per metric ton at 8:30  CST:
Price Change
Canola
Jan      597.50 up  3.20                  Mar     597.00   up  2.90                  May     596.00   up  3.40 Milling Wheat Dec     300.60     unch                  Mar     308.60     unch Durum Dec     312.00     unch                  Mar     316.00     unch  Barley Dec     245.00     unch                  Mar     248.00     unch

Commodity futures

Futures Prices as of April 24, 2014

Canola Price Change
Jan597.503.20
Mar597.002.90
May596.003.40
Milling Wheat Price Change
Dec300.60
Mar308.60
Durum Price Change
Dec312.00
Mar316.00
New Barley Price Change
Dec245.00
Mar248.00

Prices are in Canadian dollars per metric ton

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