ICE canola up with Chicago soy complex

By Terryn Shiells, Commodity News Service Canada

WINNIPEG, May 13 – Canola contracts on the ICE Futures Canada platform were stronger at 10:55 CDT Tuesday, following the advances seen in the Chicago soy complex, analysts said.

Old crop values were seeing the strongest advances, and moved above new crop prices. The nearby values were lifted higher by speculative and commercial buying interest as canola remains cheap compared to other oilseeds, according to a broker.

Worries about planting delays for canola across Western Canada, due to cold, wet weather this spring, added to the bullish tone, as did slow farmer selling.

However, the burdensome Canadian canola supply situation continued to overhang the market.

Ideas that there is still plenty of time to get the Canadian canola crop planted this spring also limited the advances.

As of 10:55 CDT Tuesday, about 16,850 contracts had traded.

Milling wheat, barley and durum were untraded following price revisions after the close on Monday.

Prices in Canadian dollars per metric ton at 10:55 CDT:

Futures Prices as of May 13, 2014

Canola
Price Change
Milling Wheat
2019-05-20 01:28
Price Change
Jul 245.00
Oct 246.00
Durum
2019-05-20 01:28
Price Change
Jul 252.00
Oct 243.00
New Barley
2019-05-20 01:28
Price Change
Jul 141.50
Oct 141.50

Prices are in Canadian dollars per metric ton

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