ICE Canola Up With Follow-Through Buying

By Phil Franz-Warkentin, Commodity News Service Canada

WINNIPEG, Oct. 26 (CNS Canada) – ICE Futures Canada canola contracts were posting gains Thursday morning, seeing some follow-through strength after yesterday’s move higher.

A move above nearby resistance encouraged some speculative buying in the market, according to participants.

Continued weakness in the Canadian dollar, after it fell sharply on Wednesday, remained supportive for canola as well.

Chicago Board of Trade soyoil futures were also up in early activity, but soybeans were holding closer to unchanged. A lack of significant end user demand, as the commercial pipeline is full of recently harvested supplies, also kept a lid on the canola market.

About 5,500 canola contracts had traded as of 8:59 CDT.

ICE Futures Canada’s board of directors officially approved the delisting of the milling wheat, durum, and barley futures effective today, October 26. The wheat and durum contracts never saw much activity since being introduced in 2012, while the barley futures have also had no open interest since 2016.

Futures Prices as of October 26, 2017

Canola
2017-10-26 09:00
Price Change
Nov 508 2.30
Jan 516.4 2.30
Mar 522 1.70
May 524.3 1.40
Milling Wheat
2017-10-26 00:00
Price Change
Dec 238.00 1.00
Mar 243.00 1.00
May 248.00 1.00
Jul 252.00 1.00
Durum
2017-10-26 00:00
Price Change
Dec 278.00 0.00
Mar 283.00 0.00
May 285.00 0.00
Jul 283.00 0.00
New Barley
2017-10-26 00:00
Price Change
Dec 148.00 0.00
Mar 151.00 0.00
May 151.00 0.00
Jul 151.00 0.00

Prices are in Canadian dollars per metric ton

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