By Phil Franz-Warkentin, Commodity News Service Canada
April 20, 2015
Winnipeg – Canola contracts on the ICE Futures Canada platform were holding onto small gains Monday morning, taking some direction from the firmer tone in the CBOT soy complex.
Activity was described as ‘choppy’ and ‘two-sided’, with no real fresh news to push values too far one way or the other, according to a broker.
A lack of significant farmer selling and the need to keep some weather premiums in the futures ahead of spring seeding helped underpin the futures, said participants.
Statistics Canada releases its first acreage estimates of the year on April 23, and positioning ahead of the report was expected to provide direction over the next few days. However, most industry participants are only anticipating small acreage adjustments compared to the previous year.
About 9,800 canola contracts had traded as of 10:54 CDT.
Milling wheat, durum and barley were all untraded.
Prices in Canadian dollars per metric ton at 10:54 CDT:
