ICE Canola Edges Higher with Outside Markets

Demand from the crushing sector remains strong, with crushers on pace to crush a record 6.7 million tons during the current crop year, according to Nicolas Hoyt of Bunge North America, who spoke at the CWB’s Grain World conference on Monday.

The Canadian dollar was more than one tenth of a cent weaker early Tuesday, which added to the friendly tone of the market, brokers said.

Volumes were very low in early trade, and experts said the volatility is expected to continue as traders await fresh news to send prices one way or the other.

Advances were limited as the soy crop in South America continues to get harvested, with solid results being reported, market watchers said.

A lack of fresh export demand was also weighing on values, analysts said.

At 08:35 CST, there had been a total of 212 canola contracts traded.

Western barley futures were unchanged and untraded early Tuesday.

Despite the lack of activity in the barley futures market, cash bids for feed barley were holding up well, experts said. Bids for immediate delivery into southern Alberta are heard approaching C$4.30 per bushel, while bids for Apr/May/Jun movement continue to show a 10 to 15 cent/bushel delivered premium.

Prices in Canadian dollars per metric ton at 8:35 CST: