| By Phil Franz-Warkentin, Commodity News Service Canada |
| Dec. 4, 2012 |
| Winnipeg – Canola contracts on the ICE Futures Canada platform were weaker at 10:49 CST Tuesday, seeing some follow-through speculative selling from Monday’s lower close. General speculative selling in most outside markets, including the CBOT soy complex contributed to the softer tone in canola, according to a broker. The liquidation of long canola, short soybean spreads was also said to be weighing on canola prices. 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… Canola did lose ground to soybeans on Monday, which was making the oilseed look a little more attractive to end use customers, said a broker. He said scale down exporter pricing, along with a lack of significant farmer selling, was helping to provide some underlying support. Heavy rains in Argentina overnight were another supportive factor, as the moisture will cause more planting delays for the soybean crop in the country, said a broker. At 10:49 CST, about 7,000 canola contracts had changed hands with intermonth spreading a feature of the activity. Milling wheat, durum, and barley futures were all untraded and unchanged. Prices in Canadian dollars per metric ton at 10:49 CST:Price Change Canola Jan 587.00 dn 4.90 Mar 586.30 dn 5.20 May 585.10 dn 5.70 Milling Wheat Dec 300.60 unch Mar 308.60 unch Durum Dec 312.00 unch Mar 316.00 unch Barley Dec 245.00 unch Mar 248.00 unch |
