ICE Canola Outperforming CBOT Soybeans

By Terryn Shiells, Commodity News Service Canada

November 28, 2012

WINNIPEG – Canola contracts on the ICE  Futures Canada platform were trading at stronger price levels at  10:32 CST Wednesday, outperforming CBOT soybeans, which were  trading mostly lower at midday.

Much of the independent strength was linked to canola  catching up after lagging behind soybeans by about $15 a tonne last  week, one broker noted.

Slow farmer selling, as most producers are waiting for higher  prices, also supported canola values. One broker noted farmers  probably won’t start selling aggressively until after the New  Year.

Concerns about weather in South America, as some areas are  too wet, while others are too dry, and a pickup in commercial  buying, also underpinned canola values.

However, profit-taking following a recent rally, and the  upswing in the value of the Canadian dollar, helped to slow the  advances.

As of 10:32 CST Wednesday, about 4,725 canola contracts had  traded.

Milling wheat, barley and durum were untraded and unchanged.

Prices in Canadian dollars per metric ton at 10:32  CST:

Price
Change

Canola

Jan
     593.90
up  1.90                  Mar     593.00   up  1.60                  May     592.70   up  2.00 Milling Wheat Dec     310.40     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 16, 2014

Canola Price Change
Jan593.901.90
Mar593.001.60
May592.702.00
Milling Wheat Price Change
Dec310.40
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