By Phil Franz-Warkentin, Commodity News Service Canada
November 25, 2014
Winnipeg – ICE Canada canola contracts were stronger Tuesday morning, taking some direction from the advances in the CBOT soy complex.
The continued lack of significant farmer selling remained a major supportive factor in the canola market as well, with producers said to be largely on the sidelines until the new tax year.
Solid end user demand and a weaker tone in the Canadian dollar were also somewhat supportive for canola.
However, the record-large US soybean crop, relatively favourable South American crop conditions, and technical resistance all served to limit the upside potential in canola.
About 2,100 canola contracts had traded as of 8:43 CST.
Milling wheat, durum, and barley futures were all untraded and unchanged, after seeing some price revisions following Monday’s close.
Prices in Canadian dollars per metric ton at 8:43 CST:
