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ICE Canola Trends Lower

By Dave Sims, Commodity News Service Canada

WINNIPEG, October 24 – Canola contracts on the ICE Futures Canada platform were weaker at 10:37 CDT on Tuesday, tracking losses in the U.S. soy complex.

Weather conditions for the soybean crop in South America are improving, which was bearish for values.

Canola has run into some technical resistance and the vast majority of November contracts are being traded in spreads, according to a trader in Winnipeg.

Declines in Malaysian palm oil undermined the market.

However, the Canadian dollar is on the weaker side relative to its U.S. counterpart, which helped prop up canola contracts.

Slow farmer selling was supportive.

About 18,000 canola contracts had traded as of 10:37 CDT.

Milling wheat, barley and durum were all untraded.

Prices in Canadian dollars per metric ton at 10:37 CDT:

Futures Prices as of October 24, 2017

2017-10-24 10:45
Price Change
Nov 502 -0.20
Jan 509.7 -1.20
Mar 515.2 -2.00
May 517.3 -2.80
Milling Wheat
2017-10-24 00:00
Price Change
Dec 233.00p 2.00
Mar 238.00p 3.00
May 244.00p 3.00
Jul 248.00p 3.00
2017-10-24 00:00
Price Change
Dec 278.00p -1.00
Mar 283.00p -1.00
May 285.00p -1.00
Jul 283.00p -1.00
New Barley
2017-10-24 00:00
Price Change
Dec 148.00p 0.00
Mar 151.00p 0.00
May 151.00p 0.00
Jul 151.00p 0.00

Prices are in Canadian dollars per metric ton

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Glacier FarmMedia, a division of Glacier Media, is Canada's largest publisher of agricultural news in print and online.



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