ICE Canola Weakens, but Weather Limits Declines
By Brent Harder
| 1 min read
| By Brent Harder, Resource News International |
| September 2, 2010 |
| Winnipeg – September 2 – Canola was trading lower on the ICE Futures Canada platform at 10:40 CDT on Thursday, as the market gave back the nearly $3 gains it had made late on Wednesday on independent weakness.
A trader said it was unclear which component was selling the market, but said canola was much heavier compared to the US soybean complex. Export interest was routine, with Japan being the main contributor, as well as a bit of activity coming from Mexico, the trader said. More adverse weather conditions across the prairies, including rains in Saskatchewan and Manitoba and near freezing temperatures in Alberta, were giving canola some support, the trader said. Soybeans on the Chicago Board of Trade were trading lower, aiding in canola’s declines on the day. At 10:40 CDT, there had been about 6,400 canola contracts traded Western barley futures remained untraded and unchanged at midsession. Prices in Canadian dollars per metric ton at 10:40 CDT: |
| Price | Change | ||
| Canola | |||
| Nov | 461.60 | dn 3.20 | |
| Jan | 467.00 | dn 2.80 | |
| Mar | 470.80 | dn 2.60 | |
| Western Barley | |||
| Oct | 175.00 | unch | |
| Dec | 183.00 | unch | |
