By Terryn Shiells, Commodity News Service Canada
WINNIPEG, April 28 – Canola contracts on the ICE Futures Canada platform were mixed at 10:47 CDT Monday, with old crop values higher, led by sharp gains in the May contract sparked by its options and spread options expiry on Friday, April 25, analysts said.
Chart-based buying and spillover support from the gains seen in old crop soybean futures were also supportive for the nearby contracts.
New crop values were slightly weaker, as traders were booking profits on recent gains, brokers said.
Spillover pressure from deferred CBOT soybean contracts, and Chicago soyoil futures, added to the bearish tone.
A recent pick up in farmer selling and expectations of large 2013/14 (Aug/Jul) carryout stocks of canola also weighed on the market.
As of 10:47 CDT Monday, about 17,665 contracts had traded. Spreading was a feature of the activity.
Milling wheat, barley and durum were untraded following price revisions after the close on Friday.
Prices in Canadian dollars per metric ton at 10:47 CDT:
