By Phil Franz-Warkentin, MarketsFarm
WINNIPEG, Oct. 25 (MarketsFarm) – ICE Futures canola contracts were narrowly mixed at midday Friday, seeing some consolidation as traders adjusted positions ahead of the weekend.
The Chicago Board of Trade soy complex provided little direction for the canola market, with soybeans holding within a penny of unchanged and soyoil down only slightly after yesterday’s rally.
Seasonal harvest pressure and increasing supplies in the commercial pipeline weighed somewhat on prices, with farmers delivering 600,600 tonnes of canola in the past week, according to the latest Canadian Grain Commission data. That brought visible supplies up to 1.3 million tonnes, their highest level in 10 months.
About 12,000 canola contracts traded as of 10:36 CDT, with intermonth spreading a feature as participants continued to exit the nearby November contract.
Prices in Canadian dollars per metric tonne at 10:37 CDT:
Price Change
Canola Nov 455.60 up 0.20
Jan 464.00 up 0.20
Mar 473.00 dn 0.10
May 480.90 dn 0.40
