ICE Canola Slightly Higher Amid Choppy Trade

By Terryn Shiells, Commodity News Service Canada
November 20, 2012
WINNIPEG – Canola contracts on the ICE  Futures Canada platform were trading at slightly firmer price  levels at 10:38 CST Tuesday, amid choppy trade due to the upcoming  US Thanksgiving holiday, analysts said.
Many traders in the US were exiting positions ahead of the  US Thanksgiving holiday on Thursday, creating a choppy trade  environment for the CBOT soybean complex, which also spilled over  into canola, according to analysts.
Canola futures followed the CBOT soybean complex slightly  higher, but were lagging behind a little bit because canola is  trading at a premium compared to soybeans, one trader noted.
Continued concerns about tight Canadian canola supplies and  the need to ration demand also provided some support for canola  values.
However, beneficial weather for the development of the  soybean crop in South America slowed the advances, market watchers  said.
General firmness in the value of the Canadian dollar, as it  remained above parity with its US counterpart, also tempered the  gains.
As of 10:38 CST, about 4,555 canola contracts had traded.
Durum contracts also experienced some activity as of 10:38  CST, with 15 contracts traded at a slightly lower price level.
Milling wheat and barley were untraded and unchanged.
Prices in Canadian dollars per metric ton at 10:38  CST:
Price Change
Canola
Jan      580.60 up  0.70                  Mar     578.00   up  0.60                  May     576.50   up  0.30 Milling Wheat Dec     300.20     unch                  Mar     309.70     unch Durum Dec     311.80   dn  0.10                  Mar     318.50     unch  Barley Dec     250.00     unch                  Mar     253.00     unch

Commodity futures

Futures Prices as of April 24, 2014

Canola Price Change
Jan580.600.70
Mar578.000.60
May576.500.30
Milling Wheat Price Change
Dec300.20
Mar309.70
Durum Price Change
Dec311.800.10
Mar318.50
New Barley Price Change
Dec250.00
Mar253.00

Prices are in Canadian dollars per metric ton

Respond





You can use these tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

COPA MedallionAGCanada.com was a 2012 COPA Finalist.
©2014 AGCanada is a production of FBC Limited Partnership a division of Glacier Media Inc.
Please refer to Copyright Page for details.