By Phil Franz-Warkentin, Commodity News Service Canada
November 6, 2014
Winnipeg – Canola contracts on the ICE Futures
Canada platform were mostly stronger at midday Thursday, with the
biggest gains in the front months as end users are paying up in order
to encourage farmer sales.
“The January/March spread has moved to a sharp inverse . . . which
represents the strong demand in the country,” said a trader. He said
the fundamentals were relatively tight for canola, and with solid
export demand coming from the West Coast the market was now “working
Read Also
North American grain/oilseed review: Canola corrects higher
Glacier FarmMedia — The ICE Futures canola market settled higher for the first time in over a week, with chart-based…
A firmer tone in CBOT soybeans and a weaker tone in the Canadian
dollar were also supportive for canola, according to participants.
However, soyoil and Malaysian palm oil were both weaker, which
did temper the upside potential in canola. The record large US crop
prospects and improving weather conditions in South America also put
some pressure on values.
About 18,000 canola contracts had traded as of 10:50 CST.
Milling wheat and durum were both untraded, but barley was higher
with 50 contracts trading hands.
Prices in Canadian dollars per metric ton at 10:50 CST:
