By Dwayne Klassen, Commodity News Service Canada
Winnipeg – December 24/12 – CNS – Canola contracts on the
ICE Futures Canada platform were trading at slightly higher price
levels in early Monday morning activity. Some light follow-
through buying from Friday’s upward price push helped to fuel the
gains, market watchers said. Activity was extremely light amid
the holiday atmosphere.
The ICE and CBOT grain and oilseed markets close early
Monday (noon CST) and remain closed for Christmas Day on December
25. US grain, commodity and financial markets re-open on
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closed for the Boxing Day holiday.
Some of the strength seen in canola also came from the
advances posted in CBOT soybean futures and Malaysian palm oil
values overnight.
Minor domestic and exporter pricing was also evident, but
the bidding was non-aggressive in nature.
The absence of farmer deliveries of canola into the cash
pipeline also continues to be an underpinning price influence.
The upside, meanwhile, was being capped by the potentially
large South American soybean crop.
As of 8:49 CST, about 257 canola contracts had traded.
Milling wheat, durum and barley contracts were unchanged and
untraded.
Prices in Canadian dollars per metric ton at 8:49 CST:
