ICE Canola Rises with Weather Delays, Spillover Gains

By Dave Sims, Commodity News Service Canada

WINNIPEG, September 14 (CNS) – Canola contracts on the ICE Futures Canada platform were higher at 10:35 CDT on Thursday, following gains in Chicago soybeans.

Rain is disrupting the harvest in the Western Prairies, which was supportive for the market.

Weakness in the Canadian dollar helped make canola more attractive to international buyers.

Demand for oilseeds remains steady and there are still ideas canola is oversold.

Losses in vegetable oil were bearish for canola.

The rain is not expected to last more than a few days meaning seasonal harvest pressure is still a factor.

About 13,000 canola contracts had traded as of 10:35 CDT.

Milling wheat, barley and durum were all untraded.

Prices in Canadian dollars per metric ton at 10:35 CDT:

Futures Prices as of September 14, 2017

Canola
2017-09-14 10:45
Price Change
Nov 490.2 3.10
Jan 496.8 3.00
Mar 503.4 3.10
May 506.9 2.80
Milling Wheat
2017-09-14 00:00
Price Change
Oct 232.00p 2.00
Dec 235.00p 2.00
Mar 240.00p -1.00
May 244.00p -2.00
Durum
2017-09-14 00:00
Price Change
Oct 281.00p 0.00
Dec 285.00p 0.00
Mar 289.00p 0.00
May 292.00p 0.00
New Barley
2017-09-14 00:00
Price Change
Oct 145.00p 0.00
Dec 148.00p 0.00
Mar 151.00p 0.00
May 151.00p 0.00

Prices are in Canadian dollars per metric ton

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