By Phil Franz-Warkentin, Commodity News Service Canada
November 7, 2014
Winnipeg – Canola contracts on the ICE Futures Canada platform were chopping around both sides of unchanged on Friday, lacking any clear direction as participants squared positions ahead of the weekend.
A stronger tone in the Canadian dollar and losses in CBOT soybeans did put some pressure on the Canadian market, according to participants.
However, good end user buying interest helped underpin the market on the other side.
“There is solid, steady demand for canola from both exporters and crushers,” said a broker. “They are motivated and want to keep canola moving.”
He said a lack of significant farmer selling contributed to that commercial buying interest, as the end users work to encourage continued deliveries.
About 19,000 canola contracts had traded as of 10:57 CST.
Milling wheat and durum were both untraded, but barley was higher with 50 contracts trading hands.
Prices in Canadian dollars per metric ton at 10:57 CST:
