ICE Canola Down, Following CBOT Soybeans

By Terryn Shiells, Commodity News Service Canada

November 30, 2012

WINNIPEG – Canola contracts on the ICE  Futures Canada platform were trading at softer price levels at  10:47 CST Friday, following the losses in the CBOT soybean complex,  according to analysts.

Much of the price softness in the CBOT soybean complex was  linked to the liquidation of long positions by speculative  accounts, market watchers said.

The taking of profits following a recent rally, and ahead of  the weekend, also helped both canola and soybean values move to  lower ground.

Losses seen in outside oilseed markets overnight, including  Malaysian palm oil and European rapeseed, also added to the bearish  price sentiment.

However, slow farmer selling as many producers continue to  wait for stronger prices, limited the declines.

The downswing in the value of the Canadian dollar also slowed  the losses, as it made canola less expensive for foreign buyers.

As of 10:47 CST Friday, about 4,580 canola contracts had  traded.

Milling wheat, barley and durum were untraded and unchanged.

Prices in Canadian dollars per metric ton at 10:47  CST:

Price
Change

Canola

Jan
     590.80
dn  6.40                  Mar     590.30   dn  6.90                  May     590.90   dn  4.80 Milling Wheat Dec     308.00     unch                  Mar     316.00     unch Durum Dec     312.00     unch                  Mar     316.00     unch  Barley Dec     245.00     unch                  Mar     248.00     unch

Commodity futures

Futures Prices as of July 29, 2014

Canola Price Change
Milling Wheat Price Change
Durum Price Change
New Barley Price Change

Prices are in Canadian dollars per metric ton