| By Phil Franz-Warkentin, Commodity News Service Canada |
| Dec. 13, 2012 |
| Winnipeg – ICE Canada canola futures were stronger Thursday morning, seeing a modest correction from recent declines. A firmer tone in the CBOT soy complex provided spillover support for canola, while talk that fresh export demand was uncovered by the latest downturn also helped underpin the futures, according to participants. Read AlsoNorth American Grain/Oilseed Review: Prices drop after USDA November estimatesGlacier FarmMedia -– Canola futures erased earlier gains to end Friday in the red after declines in United States grains… The firm Canadian dollar, overnight losses in Malaysian palm oil, and relatively favourable crop conditions for soybeans in South America all served to temper the upside in canola. A relatively bearish technical outlook for the commodity was also making any advances look like good selling opportunities, according to an analyst. About 2,100 canola contracts had traded as of 8:44 CST. Milling wheat, durum, and barley futures were all untraded and unchanged Thursday morning. Prices in Canadian dollars per metric ton at 8:44 CST:Price Change Canola Jan 590.00 up 3.50 Mar 587.00 up 3.70 May 585.60 up 3.90 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 |
