ICE Canola Lower In Early Trade

By Phil Franz-Warkentin, Commodity News Service Canada

WINNIPEG, Feb. 16 (CNS Canada) – ICE Canada canola contracts were down Thursday morning, seeing a modest correction following Wednesday’s rally.

Losses in Chicago Board of Trade soybeans and soyoil put some spillover pressure on canola, while chart-based selling and a firmer tone in the Canadian dollar added to the declines as the market backed away from nearby resistance, according to analysts.

Large South American production prospects and expectations for increased North American oilseed acres this spring were also bearish for canola.

However, solid end user demand provided underlying support, according to traders.

About 5,600 canola contracts had traded as of 8:50 CST.

Milling wheat, durum, and barley futures were all untraded.

Futures Prices as of February 16, 2017

Canola
2017-02-16 08:55
Price Change
Mar 522.5 -1.60
May 530.9 -1.00
Jul 533.3 -1.20
Nov 504.9 -2.10
Milling Wheat
2017-02-16 00:00
Price Change
Mar 242.00 0.00
May 246.00 0.00
Jul 248.00 1.00
Oct 239.00 1.00
Durum
2017-02-16 00:00
Price Change
Mar 289.00 0.00
May 291.00 0.00
Jul 287.00 0.00
Oct 267.00 0.00
New Barley
2017-02-16 00:00
Price Change
Mar 135.00 0.00
May 137.00 0.00
Jul 138.00 0.00
Oct 138.00 0.00

Prices are in Canadian dollars per metric ton

explore

Stories from our other publications