By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG, Jan. 4 – ICE Canada canola contracts were mixed Monday morning, with losses in the nearby contracts and a firmer tone in the more deferred positions.
Declines in the CBOT soy complex put some spillover pressure on the Canadian market, according to participants. Sharp losses in the Chinese equity markets to start the new calendar year were spilling into other markets, including the commodities.
However, the Canadian dollar was also weaker to start the day, which provided some underlying support for canola.
Exporters and domestic crushers continue to show solid demand for canola, helping keep prices rangebound overall.
Production uncertainty in South America kept some caution in the futures as well, with some areas thought to be too wet and others too dry.
About 2,300 canola contracts had traded as of 8:46 CST.
Milling wheat, durum, and barley futures were all untraded.
Prices in Canadian dollars per metric ton at 8:46 CST:
