ICE Canola Higher With Soyoil

By Phil Franz-Warkentin, Commodity News Service Canada

October 18, 2013

Winnipeg – Canola contracts on the ICE Futures Canada platform were stronger at 10:48 CDT Friday, trading near the top end of their recent range as the market took some direction from the gains in CBOT soyoil.

Malaysian palm oil and European rapeseed futures were also higher in overnight activity, which contributed to the firmer tone in canola.

Solid export and domestic crusher demand was also supportive, according to a trader. However, canola was holding range-bound overall with technical resistance to the upside limiting the gains.

Canada’s record large canola crop also continues to overhang the market, making any advances good selling opportunities. Farmer hedges were said to be picking up at the highs.

About 10,000 canola contracts had traded as of 10:48 CDT, with November/January spread a feature as participants roll out of the front month.

Milling wheat, durum, and barley futures were untraded on Friday.

Prices in Canadian dollars per metric ton at 10:48 CDT:

Commodity Future Prices

Canola
Price Change
Milling Wheat
updated 2017-10-21 23:19
Price Change
December235.00
March241.00
Durum
updated 2017-10-21 23:19
Price Change
December247.00
March253.00
New Barley
updated 2017-10-21 23:19
Price Change
December152.00
March154.00

Prices are in Canadian dollars per metric ton

COPA Medallion COPA finalist in 2012, 2014 and 2015.
©2017 AGCanada is a production of Glacier FarmMedia Limited Partnership. Any affiliated or third party content is the property of its respective owner and is used with permission.
Please refer to Copyright Page for details.
Click here to view our Website Terms of Use.