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ICE Canada Review: Canola mixed at close

Winnipeg, MB, Feb. 13, 2018 (CNS Canada), Feb 13, 2018 (Commodity News Service Canada, Inc. via COMTEX) --

ICE Futures Canada canola contracts were narrowly mixed at Tuesday's close, backing away from earlier gains in the final minutes of trade.

Gains in Chicago Board of Trade soybeans and soymeal futures provided
spillover support for most of the day. Declining production prospects
out of Argentina were especially supportive for CBOT soymeal futures
given concerns over tightening supplies of the protein-rich livestock
feed. However, canola usually tracks soyoil more closely than soymeal,
and losses in that market tempered the upside in the Canadian oilseed
and contributed to the late selloff.
Farmer selling also came forward at the highs to weigh on values,
according to a trader.
About 31,459 canola contracts traded on Tuesday, which compares with
Monday when 24,034 contracts changed hands. Spreading accounted for
21,510 of the contracts traded.
Settlement prices are in Canadian dollars per metric tonne.
                          Price      Change
Canola            Mar     503.90    up  0.60
                  May     509.00    unchanged
                  Jul     513.60    dn  0.70
                  Nov     507.20    up  0.40
Spread trade prices are in Canadian dollars and the volume represents
the number of spreads:
Months        Prices                      Volume
Canola
Mar/May       5.10 under to  6.10 under    6,325
Mar/Jul      10.30 under to 11.10 under      157
Mar/Nov       3.80 under to  5.10 under    1,000
May/Jul       3.80 under to  5.20 under    1,784
May/Nov       1.90  over to  1.00  over    1,175
Jul/Nov       6.50  over to  5.00  over      246
Nov/Jan       4.10 under to  4.40 under       68

Phil Franz-Warkentin, Commodity News Service Canada

Copyright 2018 Commodity News Service Canada, Inc.

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