ICE Canola Down With Soybeans At Midday

By Phil Franz-Warkentin, Commodity News Service Canada

WINNIPEG, Jan. 11 (CNS Canada) – Canola contracts on the ICE Futures Canada platform were weaker at midday Wednesday, taking some direction from the Chicago Board of Trade soy complex.

Soybeans and soyoil were moving lower at midday as traders squared positions ahead of Thursday’s USDA supply/demand report. Relatively favourable South American crop prospects were also bearish for the oilseeds in general, including canola, according to participants.

Speculative fund traders were steady sellers as the March contract backed away from the C$500 per tonne level, said a broker.

However, solid end user demand provided support, as canola remains attractively priced compared to other oilseeds.

About 5,500 canola contracts had traded as of 10:43 CST.

Milling wheat, durum, and barley futures were all untraded and unchanged.

Futures Prices as of January 11, 2017

Canola
2017-01-11 10:46
Price Change
Mar 498.7 -1.30
May 505.5 -1.20
Jul 509 -0.90
Nov 486 -3.90
Milling Wheat
2017-01-11 00:00
Price Change
Mar 239.00 -1.00
May 240.00 -2.00
Jul 238.00 -3.00
Oct 225.00 -1.00
Durum
2017-01-11 00:00
Price Change
Mar 317.00 0.00
May 320.00 0.00
Jul 323.00 0.00
Oct 323.00 0.00
New Barley
2017-01-11 00:00
Price Change
Mar 142.00 0.00
May 144.00 0.00
Jul 145.00 0.00
Oct 145.00 0.00

Prices are in Canadian dollars per metric ton

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