ICE Canola Continues Higher

By Phil Franz-Warkentin, Commodity News Service Canada

Nov. 15, 2012

Winnipeg – ICE Canada canola futures were higher  Thursday morning, seeing some follow-through buying interest on  Wednesday’s firmer close.

Ideas that the sharp declines earlier this week were overdone  continued to account for some of the strength in canola, according  to participants. Exporter and domestic crusher demand was also a  feature, as supplies are expected to be tight going forward and the  recent losses were seen as a good buying opportunity.

Advances in CBOT soyoil provided some further support. However,  soybeans were down in early activity.

A slightly firmer tone in the Canadian dollar and the relatively  favourable South American crop prospects also tempered the gains in  canola.

About 1,200 canola contracts had traded as of 8:46 CST.

Milling wheat, durum, and barley futures were all untraded and  unchanged Thursday morning.

Prices in Canadian dollars per metric ton at 8:46 CST:Price      Change


Canola            Jan     589.00    up  4.40


Mar     587.30    up  4.40


May     586.70    up  5.40


Milling Wheat     Dec     307.00    unch


Mar     316.50    unch


Durum             Dec     312.40    unch


Mar     319.00    unch


Barley            Dec     250.00    unch


Mar     253.00    unch

Commodity futures

Futures Prices as of October 22, 2014

Canola Price Change
January589.004.40
March587.304.40
May586.705.40
Milling Wheat Price Change
December307.00
March316.50
Durum Price Change
December312.40
March319.00
New Barley Price Change

Prices are in Canadian dollars per metric ton