ICE Canola Gains Strength
By Brent Harder
| 1 min read
| By Brent Harder, Resource News International |
| September 20, 2010 |
| Winnipeg – September 20 – Canola contracts on the ICE Canada platform were trading higher at 10:35 CDT Monday, as frost worries continued to push the market in a bullish direction.
A trader said he expects the concerns of frost to push the market higher for the next couple of days. Strength from the soybean market in Chicago was also pushing prices higher. The trader said canola had come down from highs earlier in the day because of farmer hedging, which was putting some bearish pressure on the market. The trader said that export demand had been strong overnight, and that grain companies had been hedging supplies, aiding to canola’s friendly tone. At 10:40 CDT, there had been about 7,100 canola contracts traded, with about 1,680 of those tied to spreading. Western barley futures were unchanged and untraded at midsession. Prices in Canadian dollars in metric tons at 10:35 CDT. |
| Price | Change | ||
| Canola | |||
| Nov | 480.40 | up 4.20 | |
| Jan | 484.60 | up 4.50 | |
| Mar | 488.10 | up 4.90 | |
| Western Barley | |||
| Oct | 170.00 | unchanged | |
| Dec | 182.00 | unchanged | |
