By Brandon Logan, Commodity News Service Canada
WINNIPEG, Feb. 3 – Canola contracts on the ICE Futures
Canada platform were weaker at 10:38 CST Monday, as trading was
relatively quiet to start the week, participants said.
Some weakness came from spillover from the losses seen in
CBOT soyoil, traders said. A large gain seen in the value of the
Canadian dollar was also bearish for canola’s value, as the
loonie moved back over the 90 US cent level.
Continued logistical issues moving the record large canola
crop out of the Prairies added to the downward pressure.
However, big gains seen in CBOT soybeans and soymeal
limited any further losses, as did ideas that canola is still
cheap in comparison with most oilseeds, analysts said.
About 7,600 canola contracts had traded as of 10:38 CST.
Milling wheat, durum, and barley futures were all untraded
and unchanged after seeing some price revisions following
Friday’s close.
Prices in Canadian dollars per metric ton at 10:38 CST:
