By Dave Sims, Commodity News Service Canada
WINNIPEG, September 11 – Canola contracts on the ICE Futures Canada platform were lower at 10:25 CDT Friday, following losses in the US soy complex.
The technical bias is leaning to the downside which undermined the market, according to a report.
Traders were also positioning themselves ahead of the release of the USDA’s monthly supply/demand report. That is expected to be made public at 11:00 CDT.
However, the Canadian dollar was lower relative to its US counterpart which made canola more attractive to out-of-country buyers.
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Farmer selling of canola has been less aggressive than expected, a trader said, which lent support to prices. Commercial buying is also on the increase.
Reports of frost in Western Canada were also supportive for prices, a trader said.
Around 9,000 contracts had traded as of 10:25 CDT,
Friday.
Milling wheat, barley and durum were all untraded and unchanged.
Prices in Canadian dollars per metric ton at 10:25 CDT:
Price Change
Canola Nov 466.50 dn 0.40
Jan 469.60 dn 0.70
Mar 470.80 dn 2.70
Milling Wheat Oct 224.00 unch
Dec 224.00 unch
Durum Oct 335.00 unch
Dec 335.00 unch
Barley Oct 184.00 unch
Dec 184.00 unch
