By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG, June 15 – ICE Canada canola contracts were mostly lower Monday morning, after trading to both sides of unchanged in overnight activity.
Losses in CBOT soybeans and soyoil put some spillover pressure on canola, as US crop conditions remain relatively favourable, according to participants.
Forecasts calling for some much needed rain in some of the dry areas of Western Canada put further pressure on values.
However, more moisture will be needed and the declining production prospects helped keep some weather premiums in the futures.
A slightly softer tone in the Canadian dollar was also supportive for canola prices.
About 4,000 canola contracts had traded as of 8:50 CDT.
Milling wheat, durum, and barley futures were all untraded.
Prices in Canadian dollars per metric ton at 8:50 CDT:
Price Change
Canola Jul 483.60 dn 1.60
Nov 481.60 dn 1.70
Jan 477.80 dn 2.40
Milling Wheat Jul 215.00 unch
Oct 220.00 unch
Durum Jul 298.00 unch
Oct 298.00 unch
Barley Jul 205.00 unch
Oct 200.00 unch
