By Dave Sims, Commodity News Service Canada
WINNIPEG, September 15 – Canola contracts on the ICE Futures Canada platform were slightly lower Monday morning showing some consolidation after Friday’s gains and following soybeans.
The large expected harvest of US soybeans continues to pressure the market, traders say.
Cold temperatures in parts of Western Canada last week did not cause significant damage, which pushed values lower, according to a report.
The Canadian dollar was slightly higher which was bearish.
Chicago soyoil, Malaysian palm oil and European rapeseed futures were all higher which was supportive.
Weather concerns in Western Canada continue to underpin futures, according to a report.
About 1,700 canola contracts had traded as of 8:35 CDT.
Milling wheat, durum, and barley futures were all untraded and unchanged.
Prices in Canadian dollars per metric ton at 8:35 CDT:
Price Change
Canola Nov 412.50 dn 1.30
Jan 416.90 dn 1.10
Mar 422.40 dn 0.40
Milling Wheat Oct 189.00 unch
Dec 196.00 unch
Durum Oct 288.80 unch
Dec 294.80 unch
Barley Oct 123.50 unch
Dec 125.50 unch
