| By Terryn Shiells, Commodity News Service Canada |
| December 4, 2012 |
WINNIPEG – Canola contracts on the ICE Futures Canada platform were trading at weaker price levels at 8:30 CST Tuesday, following the losses seen in outside oilseed markets, analysts said.Read AlsoCanadian Financial Close: C$ firm MondayGlacier FarmMedia — The Canadian dollar held firm relative to its United States counterpart on Monday, with positioning ahead of… Declines seen in the CBOT soybean complex, sparked by a technical sell-off, also added to the bearish price sentiment, traders said. The upswing in the value of the Canadian dollar also put downward pressure on canola prices, as it made the commodity more expensive for foreign buyers. Slow demand from the domestic crushing sector also undermined canola values. However, the lack of significant farmer selling, as they continue to hold out for stronger prices, helped to slow the declines. Position squaring ahead of Wednesday’s Statistics Canada production report was a feature of the trade. Pre-report expectations peg Canadian canola production in the 13 to 14 million tonne range. As of 8:30 CST Tuesday, about 4,265 canola contracts had traded. Milling wheat, barley and durum were untraded and unchanged. Prices in Canadian dollars per metric ton at 8:30 CST: |
| Price | Change | ||
| Canola | |||
| Jan | 588.50 | dn 3.40 Mar 587.70 dn 3.80 May 588.00 dn 2.80 Milling Wheat Dec 300.60 unch Mar 308.60 unch Durum Dec 312.00 unch Mar 316.00 unch Barley Dec 245.00 unch Mar 248.00 unch | |
