ICE Canola Falls Amid Light Trade

By Terryn Shiells, Commodity News Service Canada

November 22, 2012

WINNIPEG – Canola contracts on the ICE  Futures Canada platform were trading at weaker price levels at  10:37 CST Thursday, amid very light activity as US markets were  closed for their Thanksgiving Holiday. US markets will re-open  Friday, but only for a few hours.

Canola values continued the weakness that they’ve been  showing all week, because the commodity is seen as overpriced  compared to CBOT soybeans and other oilseeds, analysts said.

Traders were “dumping” out of positions, and crushers were  liquidating crush positions, which also fuelled some of the price  softness in canola, according to traders.

Beneficial weather for the planting and development of the  soybean crop in Brazil and Argentina also weighed on canola values.

General firmness in the value of the Canadian dollar, as it  remained above parity with its US counterpart, also added to the  bearish price sentiment.

However, slow farmer selling, as they’re waiting for stronger  prices, helped to limit the declines, according to brokers.

As of 10:37 CST, about 1,640 canola contracts had traded.

Milling wheat, durum and barley were untraded and unchanged.

Prices in Canadian dollars per metric ton at 10:37  CST:

Price
Change

Canola

Jan
     576.50
dn  2.70                  Mar     574.10   dn  2.70                  May     573.90   dn  1.40 Milling Wheat Dec     297.30     unch                  Mar     306.80     unch Durum Dec     312.00     unch                  Mar     318.60     unch  Barley Dec     250.00     unch                  Mar     253.00     unch

Commodity futures

Futures Prices as of November 27, 2014

Canola Price Change
Jan576.502.70
Mar574.102.70
May573.901.40
Milling Wheat Price Change
Dec297.30
Mar306.80
Durum Price Change
Dec312.00
Mar318.60
New Barley Price Change
Dec250.00
Mar253.00

Prices are in Canadian dollars per metric ton