ICE Canola Firmer In Choppy Trade

Weakness in the Canadian dollar and steady export demand provided some support for canola values, according to a broker. A lack of any significant farmer selling was also underpinning prices, he added.

Losses in CBOT soybeans were putting some pressure on canola prices. However, the broker said the relatively stable tone in soyoil was supportive.

Overall, the broker described the canola market as quiet, and lacking in any real incentive to push prices too far one way or the other ahead of the weekend.

At 10:59 CST, about 10,000 canola contracts had changed hands, with the January/March spread accounting for over 70% of the trade volumes, according to a broker. He said commercial traders were rolling their positions forward ahead of the end of the month.

Western barley futures were mixed at midday, with 15 contracts traded. Cold weather conditions across western Canada provided some support, according to the broker. He said gains in fed cattle prices should also be supporting feed grain prices. However, a lack of movement in the feed grain cash markets in western Canada limited the activity in the futures as well.

Prices in Canadian dollars per metric ton at 10:59 CST: