By Phil Franz-Warkentin, Commodity News Service Canada
June 21, 2013
Winnipeg – Canola contracts on the ICE Futures Canada platform were mixed at 10:43 CDT Friday, in light choppy activity as participants were reluctant to push values too far one way or the other ahead of the weekend.
A softer tone in CBOT soybeans and soyoil did put some spillover pressure on canola, according to a trader. However, with the Canadian dollar sharply weaker compared to its US counterpart, crush margins were improving for domestic processors and that end user demand helped prop up canola values.
Uncertainty over crop prospects across western Canada kept some caution in the futures. While recent heavy rains have caused some localized problems, most canola fields are still thought to be in good condition. With old crop supplies on the tight side, traders continue to follow the production issues very closely.
At 10:43 CDT, about 7,000 canola contracts had changed hands, with spreading accounting for about half of the volumes.
Milling wheat, durum, and barley futures were untraded and unchanged.
Prices in Canadian dollars per metric ton at 10:43 CDT:
