ICE Canola Follows Soybeans Higher

By Terryn Shiells, Commodity News Service Canada

November 26, 2012

WINNIPEG – Canola contracts on the ICE  Futures Canada platform were trading at stronger price levels at  10:36 CST Monday, following the advances seen in the CBOT soybean  complex, analysts said.

Much of the buying that took the CBOT soybean complex higher  was linked to news of fresh soyoil export sales, brokers noted.

Concerns about South American weather, as some Brazilian  growing regions are dry and rain is delaying planting in Argentina,  also boosted both canola and soybean values.

The downswing in the value of the Canadian dollar also helped  to underpin canola prices, as it made the commodity less expensive  to foreign buyers.

The need to encourage farmer selling, as producers have been  holding off and waiting for higher prices, also added to the  bullish price sentiment.

As of 10:36 CST Monday, about 6,360 canola contracts had  traded.

Barley contracts saw some light activity, with 5 contracts  traded at lower price levels. Much of the trade activity was linked  to commercials cleaning up positions ahead of the expiration of  the December contract, traders said.

Milling wheat and durum were untraded and unchanged.

Prices in Canadian dollars per metric ton at 10:36  CST:



up  5.70                  Mar     580.00   up  6.00                  May     580.00   up  6.50 Milling Wheat Dec     297.30     unch                  Mar     305.30     unch Durum Dec     312.00     unch                  Mar     316.00     unch  Barley Dec     245.00   dn  5.00                  Mar     253.00     unch

Commodity Future Prices

Price Change
Milling Wheat
updated 2017-09-26 03:54
Price Change
updated 2017-09-26 03:54
Price Change
New Barley
updated 2017-09-26 03:54
Price Change

Prices are in Canadian dollars per metric ton