ICE Canola Rises with Soy and Sluggish Farmer Selling

By Dave Sims, Commodity News Service Canada

WINNIPEG, May 19 – Canola contracts on the ICE Futures Canada platform were higher Friday morning, tracking gains in the US soy complex.

The technical bias has turned higher according to a trader.

Slow farmer selling and delays in canola planting were supportive for the market.

Farmers in Brazil are said to be holding back sales of soybeans right now, due to the slump in the country’s currency.

There are ideas yesterday’s losses were overdone.

However, there is some speculation more selling could occur as new crop canola contracts fell yesterday.

The Canadian dollar was stronger relative to its US counterpart, which made canola less enticing to international buyers.

Milling wheat, barley and durum were untraded.

Prices in Canadian dollars per metric ton at 8:58 CDT:

Futures Prices as of May 19, 2017

Canola
2017-05-19 09:13
Price Change
Jul 521.4 0.10
Nov 499.9 1.40
Jan 504.8 1.50
Mar 509.4 2.00
Milling Wheat
2017-05-19 00:00
Price Change
Jul 237.00 2.00
Oct 236.00 1.00
Dec 238.00 1.00
Mar 242.00 1.00
Durum
2017-05-19 00:00
Price Change
Jul 274.00 0.00
Oct 267.00 0.00
Dec 267.00 0.00
Mar 267.00 0.00
New Barley
2017-05-19 00:00
Price Change
Jul 138.00 0.00
Oct 140.00 0.00
Dec 140.00 0.00
Mar 140.00 0.00

Prices are in Canadian dollars per metric ton

explore

Stories from our other publications