ICE Canola Strengthens In Choppy Trade

By Phil Franz-Warkentin, Commodity News Service Canada

WINNIPEG, June 19 (CNS Canada) – ICE Futures Canada canola contracts were stronger at midday Monday, in choppy two-sided trade.

The July/November spread accounted for a large portion of the volume as traders rolled positions out of the front month.

In outright activity, a firmer tone in the Chicago Board of Trade soy complex provided some underlying support for canola, according to participants. Persistent weather concerns in parts of Western Canada, including dryness in areas of Saskatchewan and excessive moisture in parts of Alberta, contributed to the gains.

Solid end user demand and a lack of significant farmer selling also provided support. However, a trader said the old crop July contract was nearing levels that should bring in more producer sales, limiting the advances.

Continued strength in the Canadian dollar also put some pressure on values.

About 9,500 canola contracts had traded as of 10:46 CDT, with the July/November spread accounting for roughly half of that total.

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

Futures Prices as of June 19, 2017

Canola
2017-06-19 10:59
Price Change
Jul 517 2.90
Nov 490.8 2.60
Jan 497.1 3.00
Mar 502.8 3.10
Milling Wheat
2017-06-19 00:00
Price Change
Jul 272.00 4.00
Oct 262.00 3.00
Dec 265.00 3.00
Mar 268.00 4.00
Durum
2017-06-19 00:00
Price Change
Jul 278.00 0.00
Oct 266.00 0.00
Dec 270.00 0.00
Mar 271.00 0.00
New Barley
2017-06-19 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

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