By Terryn Shiells, Commodity News Service Canada
September 26, 2013
WINNIPEG – Canola contracts on the ICE Futures Canada platform were narrowly mixed amid choppy activity at 10:50 CDT Thursday. Some of the activity was linked to positioning ahead of Monday’s quarterly USDA stocks report, analysts said.
Continued harvest pressure in Western Canada and expectations of a record large crop put some downward pressure on values.
Spillover pressure from the losses seen in outside oilseeds, including the Chicago soy complex, Malaysian palm oil and European rapeseed futures was also bearish.
On the other side, routine crusher and exporter buying helped to keep a firm floor under the market.
A slowdown in farmer selling, due to rains disrupting harvest in some parts of Saskatchewan, was also providing support for canola futures.
As of 10:50 CDT Thursday, about 15,395 contracts had traded. Spreading was a feature of the trade and helped to augment the volume total.
Milling wheat, barley and durum were untraded and unchanged following price revisions after the close on Wednesday.
Prices in Canadian dollars per metric ton at 10:50 CDT:
