ICE Canola Climbs Upwards In Quiet Holiday Trade

 By Dwayne Klassen, Commodity News Service Canada


Winnipeg – December 24/12 – CNS – Canola contracts on the

ICE Futures Canada platform were trading at slightly higher price

levels in early Monday morning activity. Some light follow-

through buying from Friday’s upward price push helped to fuel the

gains, market watchers said. Activity was extremely light amid

the holiday atmosphere.

The ICE and CBOT grain and oilseed markets close early

Monday (noon CST) and remain closed for Christmas Day on December

25. US grain, commodity and financial markets re-open on

Wednesday, December 26, while the ICE Canada platform will remain

closed for the Boxing Day holiday.

Some of the strength seen in canola also came from the

advances posted in CBOT soybean futures and Malaysian palm oil

values overnight.

Minor domestic and exporter pricing was also evident, but

the bidding was non-aggressive in nature.

The absence of farmer deliveries of canola into the cash

pipeline also continues to be an underpinning price influence.

The upside, meanwhile, was being capped by the potentially

large South American soybean crop.

As of 8:49 CST, about 257 canola contracts had traded.

Milling wheat, durum and barley contracts were unchanged and

untraded.

Prices in Canadian dollars per metric ton at 8:49 CST:

Commodity futures

Futures Prices as of September 29, 2014

Canola Price Change
January583.801.70
March580.001.30
May577.001.60
Milling Wheat Price Change
March290.50
May293.50
Durum Price Change
March312.40
May316.40
New Barley Price Change
March247.00
May248.00

Prices are in Canadian dollars per metric ton