| By Phil Franz-Warkentin, Commodity News Service Canada |
| Dec. 4, 2012 |
| Winnipeg – ICE Futures Canada canola contracts were lower as speculative and commercial liquidation ahead of Wednesday’s Statistics Canada production report weighed on values. General weakness in most outside markets, including CBOT soyoil contributed to the softer tone in canola. The Canadian dollar was also stronger on Tuesday, which cuts into crush margins. Read AlsoCanadian Financial Close: Loonie stands patBy Glen Hallick Glacier Farm Media | MarketsFarm – The Canadian dollar was unchanged on Friday as weakness in the… A late turn higher in CBOT soybeans did help canola finish off its lows for the day. Recent weakness in canola was also making the commodity look more attractive to end use customers, according to a broker. Scale down exporter pricing, along with a lack of significant farmer selling, helped to provide underlying support. Planting delays for the soybean crop in South America were also somewhat supportive. About 11,947 canola contracts were traded on Tuesday, which compares with Monday when 13,332 contracts changed hands. Spreading was a feature, accounting for about 9,134 of the contracts traded. Milling wheat futures were untraded, but were revised lower after the close. Durum and barley futures were untraded and unchanged. Settlement prices are in Canadian dollars per metric ton.Price Change Canola Jan 589.80 dn 2.10 Mar 589.20 dn 2.30 May 588.30 dn 2.50 Milling Wheat Dec 300.00 dn 0.60 Mar 308.00 dn 0.60 Durum Dec 312.00 unch Mar 316.00 unch Barley Dec 245.00 unch Mar 248.00 unch |
