ICE canola climbs with CBOT soybeans

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By Phil Franz-Warkentin, Commodity News Service Canada

WINNIPEG, August 10 – Canola contracts on the ICE Futures Canada platform were higher at midday Monday, hitting their best levels in over two weeks as a rally in CBOT soybeans spilled over to provide support.
The USDA releases its first survey-based estimates on the size of the US soybean and corn crops on Wednesday, August 12, and a heightened sense of nervousness ahead of the report was driving the US futures higher, according to a broker.
Warmer and drier weather conditions in the US Midwest were also said to be somewhat supportive for the grains and oilseed futures in general.

North American Grain and Oilseed Review:Modest gains in most canola contracts

By Glen Hallick, MarketsFarm Glacier FarmMedia – Intercontinental Exchange canola futures closed mostly higher on Monday, but the March contract…

With no major issues in the Canadian market, canola was following movements in the US market closely, according to participants.
However, a firmer tone in the Canadian dollar did put some pressure on canola. The currency was up by nearly half a cent relative to its US counterpart at midsession.
About 8,000 canola contracts had traded as of 10:51 CDT.
Milling wheat, durum, and barley were all untraded.
Prices in Canadian dollars per metric ton at 10:51 CDT:

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