ICE Canola Tracks Soybeans Higher By Phil Franz-Warkentin, Commodity News Service Canada Feb. 6, 2012 Winnipeg - Canola contracts traded on the ICE Futures Canada platform were stronger at 11:06 CST, as gains in the CBOT soy complex spilled over to provide some support. Steady export demand and improving technical signals were also supportive, according to traders. Speculative fund buying was behind most of the strength in canola, as the advances in the CBOT soy complex triggered some demand in the Canadian market as well, according to a broker. Exporter and domestic crusher demand also remained supportive, although the broker said that end-user buying was not as aggressive as it has been recently. The ongoing uncertainty regarding the size of the South American soybean crops also kept some premiums in the oilseed markets, including canola. However, a broker said those production concerns were largely overblown, and looming harvest pressure from the region could see those premiums start to come out of the futures. Routine farmer hedges did temper the advances in canola to some extent, according to traders. Profit-taking at the highs also limited the gains. At 11:06 CST, about 14,600 canola contracts had changed hands. Milling wheat, durum, and barley futures were all untraded and unchanged at midday Monday. Prices in Canadian dollars per metric ton at 11:06 CST:     Price Change Canola   Mar 530.00 up 4.50   May 533.50 up 4.10   Nov 515.00 up 2.10   Western Barley   Mar 212.00 unch   May 216.00 unch Milling Wheat   Oct 264.50 unch   Dec 269.00 unch Durum   Oct 270.00 unch   Dec 274.50 unch Barley   Oct 180.50 unch   Dec 184.00 unch