ICE Canada Holding Firm
By Brent Harder
| 1 min read
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| By Brent Harder, Resource News International |
| September 1, 2010 |
| Winnipeg – September 1 – Canola was trading slightly higher on the ICE futures Canada platform to 11:10 CDT on Wednesday, but was seeing mostly choppy trade throughout the morning.
A trader said that ICE canola was trading well ahead of the US markets with the Canadian dollar factored in. The Canadian currency was up 1.50 US cents from Tuesday’s close at 11:00 CDT. He said, however, currency fluctuations often take a few days to affect the market. The trader said the canola product value was down about 5 dollars on the day, which meant canola was showing relative strength, with the minimal gains. The recent rains on the prairies have slowed harvest operations, increasing concerns about the crop coming off the field. However, crop conditions haven’t been affected keeping the market mostly firm, the trader said. Soybeans on the Chicago Board of Trade were trading higher, giving support to canola. At 11:10 CDT, there had been about 4,100 canola contracts traded. Western barley futures were untraded and unchanged at midsession. Prices in Canadian dollars per metric ton at 11:10 CDT: |
| Price | Change | ||
| Canola | |||
| Nov | 462.10 | up 0.10 | |
| Jan | 467.70 | up 1.00 | |
| Mar | 470.40 | up 0.80 | |
| Western Barley | |||
| Oct | 175.00 | unch | |
| Dec | 183.00 | unch | |
