ICE Canola Advances with US Soy, Tight CDN Supplies

By Dave Sims, Commodity News Service Canada

WINNIPEG, August 11 (CNS) – Canola contracts on the ICE Futures Canada platform were stronger at 10:45 CDT on Friday, taking strength from gains in soy and tightness in canola stocks.

“There are signs canola is exerting its strength because the supply situation is tighter in canola than soybeans,” noted a trader in Winnipeg.

Advances in vegetable oil were supportive for the market.

There are still many areas of Western Canada in need of rain, which underpinned prices.

However, the Canadian dollar was about a quarter of a cent higher, relative to its US counterpart, which made canola less attractive to domestic crushers and outside buyers.

The USDA is projecting a massive soybean crop in the US, which cast a bearish tint over the market.

About 3,700 canola contracts had traded as of 10:45 CDT.

Milling wheat, barley and durum were all untraded.

Prices in Canadian dollars per metric ton at 10:45 CDT:

Futures Prices as of August 11, 2017

Canola
2017-08-11 10:46
Price Change
Nov 508.5 2.30
Jan 513.6 2.40
Mar 517.2 2.30
May 519.4 2.30
Milling Wheat
2017-08-11 00:00
Price Change
Oct 277.00p -8.00
Dec 280.00p -8.00
Mar 285.00p -7.00
May 285.00p -6.00
Durum
2017-08-11 00:00
Price Change
Oct 320.00p 7.00
Dec 321.00p 7.00
Mar 296.00p 1.00
May 293.00p 0.00
New Barley
2017-08-11 00:00
Price Change
Oct 145.00p 0.00
Dec 141.00p 0.00
Mar 141.00p 0.00
May 141.00p 0.00

Prices are in Canadian dollars per metric ton

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