ICE Canola Futures Firmer In Consolidation
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| By Phil Franz-Warkentin, Resource News International |
| February 26, 2010 |
| Winnipeg – ICE Canada canola futures were steady to slightly higher Friday morning, seeing some consolidation after the losses posted Thursday.
Overnight gains in the e-cbot soy complex were also providing some support for canola, according to traders. Routine exporter pricing and steady domestic crusher demand, which is being met by reluctant farmer selling should also remain supportive for canola, according to a broker. However, the looming South American soybean crop remains a bearish influence on the oilseed markets in general. Traders said activity could turn choppy in canola, as participants will be looking to square their positions ahead of the month end. The Canadian dollar was holding reasonably steady Friday morning, providing little direction for canola. About 250 canola contracts had traded as of 8:53 CST. Western barley futures were untraded and unchanged in overnight activity. Prices in Canadian dollars per metric ton at 8:53 CST: |
| Price | Change | ||
| Canola | |||
| May | 388.90 | up 0.90 | |
| Jul | 395.00 | up 0.30 | |
| Nov | 401.70 | dn 0.10 | |
| Western Barley | |||
| Mar | 143.00 | unch | |
| May | 147.00 | unch | |
