By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG, Aug. 25 (CNS Canada) – ICE Canada canola contracts were weaker Thursday morning, as losses in the Chicago Board of Trade soy complex put some spill-over pressure on values.
Ideas that Canada’s canola crop will end up larger than the 17 million tonnes estimated by Statistics Canada contributed to the softer tone, according to participants.
The looming implementation of stricter Chinese dockage rules was another bearish influence in the background.
However, canola remains attractively priced compared to other oilseeds, which was keeping some end user demand in the market. Excess moisture in parts of Western Canada was also supportive.
About 5,500 canola contracts had traded as of 8:55 CDT.
Milling wheat, durum, and barley futures were all untraded.
Prices in Canadian dollars per metric ton at 8:55 CDT:
Price Change
Canola Nov 463.30 dn 5.00
Jan 471.40 dn 4.20
Mar 476.70 dn 4.90
Milling Wheat Oct 211.00 unch
Dec 214.00 unch
Durum Oct 261.00 unch
Dec 264.00 unch
Barley Oct 138.00 unch
Dec 138.00 unch
