ICE Canola up on Weather Concerns
By Brent Harder
| 1 min read
| By Brent Harder, Resource News International |
| September 14, 2010 |
| Winnipeg – September 14 – Canola contracts on the ICE Futures Canada platform were trading at higher levels as of 10:40 CDT, as weather and harvest concerns continued to worry market participants.
A trader said that with cooler temperatures expected across the Canadian prairies this week, including a solid chance of frost, concerns remain about the quality of the crop, and just when it will come off the field. Gains in the market were tempered by the losses in soybeans on the CBOT platform, as the US soybean crop is projected to be a large one. A trader said there was no new export demand at midsession on Tuesday, with only routine export activity taking place. The Canadian dollar was trading stronger, which likely turned some potential exporters away. The trader said selling had been coming mostly from elevator companies along rail lines. At 10:40 CDT, there had been about 5,100 canola contracts traded on the ICE Canada platform. Of the contracts traded, 2,874 were spread related. Western barley futures remained unchanged and untraded at midsession. Prices in Canadian dollars per metric ton at 10:40 CDT: |
| Price | Change | ||
| Canola | |||
| Nov | 461.10 | up 2.10 | |
| Jan | 465.80 | up 2.20 | |
| Mar | 469.10 | up 1.70 | |
| Western Barley | |||
| Oct | 170.00 | unchanged | |
| Dec | 180.00 | unchanged | |
