ICE Canola Narrowly Mixed In Quiet Trade
| 1 min read
ICE Canola Narrowly Mixed In Quiet Trade |
| By Phil Franz-Warkentin, Commodity News Service Canada |
| Nov. 2, 2010 |
| Winnipeg – Canola contracts traded on the ICE Futures Canada platform were narrowly mixed at 10:58 CDT Tuesday in thin trade. The strong Canadian dollar and a general lack of interest in the market were said to be weighing on values, but prices were holding within a tight range overall.
"Canola’s feeling a little heavy today," said a commission house broker. He said profit-taking on the recent advances was accounting for some of the selling pressure, with light amounts of farmer hedges also noted. The strong Canadian dollar was also providing some of the incentive for the move lower in canola, according to the broker. Declines in the CBOT soy complex were spilling over to weigh on values as well. Routine exporter pricing helped limit the declines in canola and take some months higher, according to the broker. However, he said the activity was quiet and range-bound overall, as participants were awaiting next week’s USDA supply/demand reports. At 10:58 CDT, about 3,100 canola contracts had changed hands, with spreading only a small feature. The November/January spread was widening out as participants clean up the last of the open interest in the nearby November contract. Western barley futures were untraded and unchanged at midsession. Prices in Canadian dollars per metric ton at 10:58 CDT: |
| Price | Change | ||
| Canola | |||
| Nov | 530.70 | dn 3.30 | |
| Jan | 542.30 | dn 0.20 | |
| Mar | 549.10 | up 0.20 | |
| Western Barley | |||
| Dec | 180.00 | unch | |
| Mar | 185.00 | unch | |
