By Phil Franz-Warkentin, Commodity News Service Canada
June 17, 2014
Winnipeg – Canola contracts on the ICE Futures Canada platform were mixed at 10:59 CDT Tuesday, with adjustments to the old crop/new crop spread a feature.
After posting losses for most of the day in sympathy with CBOT soybeans, the nearby July contract was up at mid-session. The July/Nov spread was a feature of the activity, with traders exiting the front month behind some of the strength there.
The more actively traded new crop months were all lower, with spillover selling from the declines in the CBOT soy complex behind some of the weakness, according to participants.
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The relatively favourable crop prospects seen across Western Canada were another bearish factor, although there are still some areas of concern where excess moisture will likely result in unseeded acres.
About 8,500 canola contracts had traded as of 10:59 CDT.
Milling wheat, durum, and barley futures were untraded and unchanged.
Prices in Canadian dollars per metric ton at 10:59 CDT:
