|By Phil Franz-Warkentin, Commodity News Service Canada|
|Oct. 19, 2012|
|Winnipeg – Canola contracts on the ICE Futures Canada platform were stronger at 11:16 CDT Friday, as end-user buying interest provided support.
The gains in canola came despite a softer tone in the CBOT soy complex, and a canola trader said the independent strength was likely tied to solid end-user demand. While there was no confirmation of any fresh business, exporters and domestic crushers were both said to be in the market on the buy side.
Weakness in the Canadian dollar, which was down by over half a cent relative to its US counterpart, provided further support for canola, according to the trader.
However, the gains in canola were tempered by the softer tone in most outside oilseed markets, including soybeans. Increased farmer selling, as cash bids in western Canada were said to be looking more attractive, also slowed the advances.
At 11:16 CDT, about 10,300 canola contracts had changed hands, with the November/January spread a feature as participants continue to roll out of the front month.
Milling wheat, durum, and barley futures were all untraded and unchanged.
Prices in Canadian dollars per metric ton at 11:16 CDT:
Futures Prices as of May 24, 2013
Prices are in Canadian dollars per metric ton