ICE Canada Review: Canola Ends Down After Choppy Day

By Phil Franz-Warkentin, Commodity News Service Canada

Nov. 21, 2012

Winnipeg – ICE Futures Canada canola contracts were  slightly lower in most months at Wednesday’s close, after trading to  both sides of unchanged during a choppy session. Positioning ahead  of the US Thanksgiving holiday was the feature, according to  participants.

US markets will be closed Thursday, and will only open for a  shortened session on Friday. Canadian markets remain open.

CBOT soybeans were lower at the close, which was somewhat bearish  for canola, according to traders. However, soybean oil was higher,  which helped Canadian crush margins show some improvement and  underpinned canola values.

Steady domestic crusher and exporter pricing was somewhat  supportive for canola as well, according to participants. A lack of  significant farmer selling provided further support.

However, good South American crop conditions for the soybeans  growing there and a firm Canadian dollar did weigh on canola values.

About 12,980 canola contracts were traded on Wednesday, which  compares with Tuesday when 10,470 contracts changed hands. Spreading  accounted for about 8,394 of the contracts traded.

Milling wheat and durum futures were both untraded, but wheat  values were revised lower after the close while durum was revised  higher. Barley was untraded and unchanged.

Settlement prices are in Canadian dollars per metric ton.Price      Change

Canola            Jan     579.20    dn 0.40

Mar     576.80    dn 0.30

May     575.30    dn 0.30

Milling Wheat     Dec     297.30    dn 2.90

Mar     306.80    dn 2.90

Durum             Dec     312.00    up 0.20

Mar     318.60    up 0.20

Barley            Dec     250.00    unch

Mar     253.00    unch

Commodity Future Prices

Price Change
Milling Wheat
updated 2017-02-25 20:58
Price Change
updated 2017-02-25 20:58
Price Change
New Barley
updated 2017-02-25 20:58
Price Change

Prices are in Canadian dollars per metric ton