| By Phil Franz-Warkentin, Commodity News Service Canada |
| Dec. 14, 2012 |
| Winnipeg – ICE Canada canola futures were stronger Friday morning, seeing some follow-through buying interest on Thursday’s gains. Advances in the CBOT soy complex, along with overnight strength in Malaysian palm oil and European rapeseed futures, contributed to the firmer tone in canola, according to participants. Read AlsoCanadian Financial Close: C$ firm FridayGlacier FarmMedia — The Canadian dollar strengthened Friday, as dovish comments out of the United States Federal Reserve weighed on… Concerns over tightening stocks and a lack of significant farmer selling ahead of the New Year remained supportive for canola as well. However, relatively favourable crop conditions for soybeans in South America did temper the upside potential in canola. Technical resistance to the upside was also said to be limiting the gains, as the overall trend remains pointed lower and any advances were seen as good selling opportunities. About 1,800 canola contracts had traded as of 8:42 CST. Milling wheat, durum, and barley futures were all untraded and unchanged Friday morning. Prices in Canadian dollars per metric ton at 8:42 CST:Price Change Canola Jan 594.00 up 3.80 Mar 590.60 up 3.60 May 589.70 up 4.00 Milling Wheat Mar 290.50 unch May 293.50 unch Durum Mar 316.00 unch May 320.00 unch Barley Mar 248.00 unch May 249.00 unch |
