By Terryn Shiells, Commodity News Service Canada
September 30, 2013
WINNIPEG – Canola contracts on the ICE Futures Canada platform were little changed Monday morning, as traders were wary of pushing the market too far one way or the other ahead of this morning’s USDA stocks report, which is due out at 11:00 CDT.
Pressure from the advancing harvest of canola in Western Canada and expectations that the crop will be record large were bearish.
The upswing in the value of the Canadian dollar also weighed on prices, as it made canola more expensive to foreign buyers.
Spillover pressure from the losses seen in the Chicago soy complex further undermined prices.
However, steady commercial demand and some uncertainty surrounding the size of the US soybean crop kept a firm floor under the market.
As of 8:30 CDT Monday, 2,200 canola contracts had traded.
Milling wheat, durum and barley futures were untraded and unchanged following price revisions after the close on Friday.
Prices in Canadian dollars per metric ton at 8:30 CDT:
