By Phil Franz-Warkentin, Commodity News Service Canada
April 9, 2014
Winnipeg – Canola contracts on the
ICE Futures Canada platform were down at 10:39 CDT Wednesday, taking some direction from the losses in the CBOT soy complex.
“We’re following the US ‘dime for dime’,” said a Winnipeg based broker. However, he said activity was choppy and on the quiet side, with no real fresh news to provide direction.
Recent strength in the Canadian dollar, steady farmer selling, the burdensome stocks situation, and technical chart signals that were starting to point lower, contributed to the losses in canola, according to participants.
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On the other side, scale-down commercial buying interest helped provide some underlying support. Mounting concerns over the lateness of spring seeding were also underpinning the futures, due to cool and wet conditions across much of Western Canada.
About 4,700 canola contracts had traded as of 10:39 CDT, with the July/November spread a feature.
Milling wheat, durum, and barley futures were untraded and
unchanged after seeing some price revisions following Tuesday’s close.
Prices in Canadian dollars per metric ton at 10:39 CDT:
