ICE Canola Lifted By Soybean Advances

By Terryn Shiells, Commodity News Service Canada
November 27, 2012
WINNIPEG – Canola contracts on the ICE  Futures Canada platform were trading at stronger price levels at  10:40 CST Tuesday, lifted by the advances seen in the CBOT soybean  complex, analysts said.
Some of the price firmness seen in the CBOT soybean complex  was linked to news of fresh export sales for soyoil, and strong  demand for the oilseed.
Concerns about weather for the planting and development of  soybeans in South America also underpinned both soybean and canola  values.
Slow farmer selling, as they’re holding out for better  prices, and positive chart signals, also boosted canola values,  according to market watchers.
The pricing of old export business to Japan also helped canola  values move to higher ground at midday Tuesday. However, brokers  said no fresh export sales of canola had been confirmed as of 10:40  CST Tuesday.
As of 10:40 CST Tuesday, about 5,870 canola contracts had  traded.
Milling wheat, barley and durum were untraded and unchanged.
Prices in Canadian dollars per metric ton at 10:40  CST:
Price Change
Jan      590.20 up  7.80                  Mar     588.80   up  7.20                  May     587.80   up  6.30 Milling Wheat Dec     297.30     unch                  Mar     305.30     unch Durum Dec     312.00     unch                  Mar     316.00     unch  Barley Dec     245.00     unch                  Mar     248.00     unch

Futures Prices as of November 27, 2012

Price Change
Milling Wheat
2017-12-16 22:24
Price Change
Dec 297.30
Mar 305.30
2017-12-16 22:24
Price Change
Dec 312.00
Mar 316.00
New Barley
2017-12-16 22:24
Price Change
Dec 245.00
Mar 248.00

Prices are in Canadian dollars per metric ton


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