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ICE Canada Review: Canola Weakens With Soybeans, Strong C$

Winnipeg, MB, April 16, 2018 (CNS Canada), Apr 16, 2018 (Commodity News Service Canada, Inc. via COMTEX) --

ICE Futures Canada canola contracts were weaker on Monday, taking some direction from declines in the Chicago Board of Trade soy complex.

Continued strength in the Canadian dollar contributed to the weaker
tone, as the rising currency cuts into crush margins.
However, lingering winter conditions across much of Western Canada
provided underlying support, with snow hitting parts of Alberta on
Monday.
The poor weather has producers holding out for better prices, while
spring road bans were also hampering country movement, said a broker.
About 16,225 canola contracts traded on Monday, which compares with
Friday when 22,567 contracts changed hands. Spreading was a feature,
accounting for 10,448 of the contracts traded.
Settlement prices are in Canadian dollars per metric tonne.
                          Price      Change
Canola            May     520.80    dn  2.90
                  Jul     523.30    dn  2.70
                  Nov     511.30    dn  2.90
                  Jan     515.60    dn  2.70
Spread trade prices are in Canadian dollars and the volume represents
the number of spreads:
Months        Prices                      Volume
Canola
May/Jul       2.30 under to  3.00 under    4,012
May/Nov      10.30  over to  8.80  over      495
Jul/Nov      13.20  over to 11.10  over      584
Nov/Jan       4.00 under to  4.40 under      113
Jan/Mar       1.60 under to  2.00 under       20

Phil Franz-Warkentin, Commodity News Service Canada

Copyright 2018 Commodity News Service Canada, Inc.

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