ICE Canola Weakens with Soy

By Dave Sims, Commodity News Service Canada

WINNIPEG, January 11 – Canola contracts on the ICE Futures Canada platform were slightly lower Wednesday morning, in sympathy with the US soy market.

Traders were squaring positions ahead of tomorrow’s USDA report.

There are ideas Brazil’s soybean crop could be actually larger than expected, which put pressure on canola.

The dominant March contract was feeling technical pressure from the C$500 per tonne level.

On the other side, gains in Malaysian palm oil and European rapeseed futures were supportive for canola.

Some parts of Argentina are too dry, which helped prop up prices.

Milling wheat, barley and durum were untraded.

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

Futures Prices as of January 11, 2017

Canola
2017-01-11 09:02
Price Change
Mar 499.1 -0.90
May 505.9 -0.80
Jul 509.4 -0.50
Nov 488.9 -1.00
Milling Wheat
2017-01-11 00:00
Price Change
Mar 239.00 -1.00
May 240.00 -2.00
Jul 238.00 -3.00
Oct 225.00 -1.00
Durum
2017-01-11 00:00
Price Change
Mar 317.00 0.00
May 320.00 0.00
Jul 323.00 0.00
Oct 323.00 0.00
New Barley
2017-01-11 00:00
Price Change
Mar 142.00 0.00
May 144.00 0.00
Jul 145.00 0.00
Oct 145.00 0.00

Prices are in Canadian dollars per metric ton

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