ICE Canola Follows U.S. Soy Complex Lower

By Dave Sims, Commodity News Service Canada

WINNIPEG, November 14 – Canola contracts on the ICE Futures Canada platform were slightly lower at 10:38 CST on Tuesday, tracking losses in the US soy complex. Canola was also catching up to a drop in soyoil futures on Monday, when the Canadian market was closed.

There are ideas India is planning to slap tariffs on imports of vegetable oil, which undermined values.

Canola is vulnerable to fund selling, according to a trader.

“If we grind lower the funds may say, ‘Oh we made a mistake,’ let’s liquidate,” he explained.

However, the Canadian dollar was slightly weaker relative to its U.S. counterpart, which was supportive for canola.

Commercials are still buying these days, which underpinned values.

About 7,400 canola contracts had traded as of 10:38 CST.

Prices in Canadian dollars per metric ton at 10:38 CST:

Futures Prices as of November 14, 2017

Canola
2017-11-14 10:42
Price Change
Jan 512.5 -2.60
Mar 519.7 -2.10
May 524.2 -1.40
Jul 528.3 0.20
Milling Wheat
1970-01-01 00:00
Price Change
Durum
1970-01-01 00:00
Price Change
New Barley
1970-01-01 00:00
Price Change

Prices are in Canadian dollars per metric ton

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