ICE Canola Down in Choppy Trade
| 1 min read
ICE Canola Down In Choppy Trade |
| By Phil Franz-Warkentin, Commodity News Service Canada |
| Nov. 1, 2010 |
| Winnipeg – Canola contracts traded on the ICE Futures Canada platform were lower at 11:00 CDT Monday in choppy trade. Losses in CBOT soybeans accounted for some of the selling pressure in the market, with the firm Canadian dollar another bearish influence.
"There’s some very jumbled activity today," said a Winnipeg-based canola broker. He said the combination of a stronger US dollar index internationally, and the firm Canadian dollar relative to its US counterpart, was putting some pressure on canola values. Profit-taking on recent advances was also weighing on values, according to the broker. However, he added that the funds were still showing some interest on the buy side as well. In addition there was some good commercial bidding underneath the market, with both domestic crushers and exporters still looking to price some supplies. At 11:00 CDT, about 4,100 canola contracts had changed hands, with spreading only a small feature. Western barley futures were untraded and unchanged at midsession. Prices in Canadian dollars per metric ton at 11:00 CDT: |
| Price | Change | ||
| Canola | |||
| Nov | 530.70 | dn 0.70 | |
| Jan | 537.40 | dn 2.00 | |
| Mar | 542.80 | dn 2.70 | |
| Western Barley | |||
| Dec | 180.00 | unch | |
| Mar | 185.00 | unch | |
