ICE Canola Lower, Following Soybeans

By Terryn Shiells, Commodity News Service Canada

November 21, 2012

WINNIPEG – Canola contracts on the ICE  Futures Canada platform were trading at slightly lower price  levels at 10:44 CST Wednesday, following the losses in the CBOT  soybean complex, analysts said.

Much of the selling that took soybeans to lower ground was  linked to good growing conditions for the South American soybean  crop.

The strong Canadian dollar, as it remained above parity with  its US counterpart, also undermined canola values, as it made the  commodity more expensive for foreign buyers.

However, a pickup in commercial buying by domestic crushers  at the lows helped to slow the declines, according to market  watchers.

Slow farmer selling, as they’re waiting for higher prices,  also underpinned canola values.

As of 10:44 CST, about 6,895 canola contracts had traded.

Milling wheat, durum and barley were untraded and unchanged.

Prices in Canadian dollars per metric ton at 10:44  CST:

Price
Change

Canola

Jan
     578.50
dn  1.10                  Mar     575.40   dn  1.70                  May     574.30   dn  1.30 Milling Wheat Dec     300.20     unch                  Mar     309.70     unch Durum Dec     311.80     unch                  Mar     318.40     unch  Barley Dec     250.00     unch                  Mar     253.00     unch

Commodity futures

Futures Prices as of April 24, 2014

Canola Price Change
Jan578.501.10
Mar575.401.70
May574.301.30
Milling Wheat Price Change
Dec300.20
Mar309.70
Durum Price Change
Dec311.80
Mar318.40
New Barley Price Change
Dec250.00
Mar253.00

Prices are in Canadian dollars per metric ton