By Phil Franz-Warkentin, Commodity News Service Canada
July 8, 2013
Winnipeg – Canola contracts on the ICE Futures Canada platform were narrowly mixed at 10:58 CDT Monday, although the bias was to the downside in the most active contracts.
Gains in CBOT soybeans did lend some spillover support to the canola market, but soybeans were off their early highs and the softer tone in soyoil weighed on canola.
The relatively favourable crop conditions seen across most of western Canada contributed to the declines in canola, according to a trader. However, ongoing concerns over excessive moisture and heat stress in some fields did help temper the declines.
Tight old crop supplies remained supportive as well, and end users were showing some demand on a scale-down basis.
At 10:58 CDT, about 6,000 canola contracts had changed hands.
Milling wheat, durum, and barley futures were untraded and unchanged.
Prices in Canadian dollars per metric ton at 10:58 CDT:
