ICE Canola Lifted By Soybean Advances

By Terryn Shiells, Commodity News Service Canada

November 27, 2012

WINNIPEG – Canola contracts on the ICE  Futures Canada platform were trading at stronger price levels at  10:40 CST Tuesday, lifted by the advances seen in the CBOT soybean  complex, analysts said.

Some of the price firmness seen in the CBOT soybean complex  was linked to news of fresh export sales for soyoil, and strong  demand for the oilseed.

Concerns about weather for the planting and development of  soybeans in South America also underpinned both soybean and canola  values.

Slow farmer selling, as they’re holding out for better  prices, and positive chart signals, also boosted canola values,  according to market watchers.

The pricing of old export business to Japan also helped canola  values move to higher ground at midday Tuesday. However, brokers  said no fresh export sales of canola had been confirmed as of 10:40  CST Tuesday.

As of 10:40 CST Tuesday, about 5,870 canola contracts had  traded.

Milling wheat, barley and durum were untraded and unchanged.

Prices in Canadian dollars per metric ton at 10:40  CST:

Price
Change

Canola

Jan
     590.20
up  7.80                  Mar     588.80   up  7.20                  May     587.80   up  6.30 Milling Wheat Dec     297.30     unch                  Mar     305.30     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 April 17, 2014

Canola Price Change
Jan590.207.80
Mar588.807.20
May587.806.30
Milling Wheat Price Change
Dec297.30
Mar305.30
Durum Price Change
Dec312.00
Mar316.00
New Barley Price Change
Dec245.00
Mar248.00

Prices are in Canadian dollars per metric ton