By Phil Franz-Warkentin, Commodity News Service Canada
February 23, 2015
Winnipeg – Canola contracts on the ICE Futures Canada platform were narrowly mixed at midday Monday, lacking any clear direction in thin and choppy activity.
Speculators were buying canola and selling in the soy complex, which was supportive for the Canadian futures, according to a broker accounting for the relative firmness in canola. Commercial traders were on both sides of the market.
A weaker tone in the Canadian dollar provided some underlying support for canola as well, according to the broker.
However, losses in CBOT soyoil were cancelling out any currency related strength, keeping canola rangebound overall.
Adjustments to the March/May spread were a feature as participants were exiting the front month and rolling into the May contract ahead of first deliveries.
About 18,000 canola contracts had traded as of 10:42 CST.
Milling wheat, durum and barley were all untraded.
Prices in Canadian dollars per metric ton at 10:42 CST:
