ICE Canola Range-Bound In Thin Trade

Buyers and sellers were both reluctant to push values too far one way or the other on Monday, with some light hedge selling being met by routine end-user demand, according to market participants. Small scale speculative activity was also a feature on both sides of the market.

"I suspect that when the day is over, we’ll be unchanged," said a Winnipeg-based trader.

A stronger tone in the Canadian dollar weighed slightly on canola, keeping the bias to the downside for the most part. The trader said expectations for declines in the US soy complex when trade resumes there after the holiday also put some spillover pressure on canola.

However, he added that canola market was still bullish overall in the long term, with any declines seen as buying opportunities given the tight supply situation.

At 10:40 CST, about 1,100 canola contracts had changed hands with spreading accounting for about half of the trade volumes.

Western barley futures were untraded and unchanged at midsession.

Prices in Canadian dollars per metric ton at 10:40 CST: