By Brandon Logan, Commodity News Service Canada
WINNIPEG, Jan. 20 – Canola contracts on the ICE Futures
Canada platform were higher at 10:48 CST Monday, amid quiet
trading as US markets are closed due to the Martin Luther King
Jr. Day federal holiday.
Follow through buying following the gains seen Friday was
supportive, as were ideas that the canola market is oversold
relative to the US markets, according to participants.
However, ongoing logistic concerns moving the record large
Canadian crop out of the Prairies continued to limit the
market’s upside.
Strength seen in the value of the Canadian dollar also
limited any further gains, as did favourable conditions for
soybean crop development in South America, traders added.
About 4,200 canola contracts had traded as of 10:48 CST,
with inter-month spreading a feature.
Milling wheat, durum and barley futures were untraded after
seeing some price revisions following Friday’s close.
Prices in Canadian dollars per metric ton at 10:48 CST:
Price Change
Canola Mar 434.50 up 3.40
May 443.70 up 3.30
Jul 452.60 up 3.30
Milling Wheat Mar 182.00 unch
May 186.00 unch
Durum Mar 243.00 unch
May 247.00 unch
Barley Mar 127.00 unch
May 129.00 unch
