|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:
|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|