By Phil Franz-Warkentin, Commodity News Service Canada
July 15, 2014
Winnipeg – Canola contracts on the ICE Futures Canada platform were steady to slightly weaker at 10:58 CDT Tuesday, taking some direction from the softer CBOT soy complex.
However, canola was showing some independent strength relative to soybeans, as traders continue to try and get a handle on the size of this year’s crop.
In addition to the excessive moisture that flooded fields in parts of Manitoba and Saskatchewan, dryness in the Peace River region of Alberta is also starting to raise concerns over the canola production prospects overall, said a broker.
A weaker tone in the Canadian dollar, commercial pricing, and a lack of significant farmer selling was also said to be somewhat supportive.
About 9,000 canola contracts had traded as of 10:58 CDT.
Milling wheat, durum, and barley futures were untraded and unchanged after seeing some price revisions following Monday’s close.
Prices in Canadian dollars per metric ton at 10:58 CDT:
