| By Terryn Shiells, Commodity News Service Canada |
| December 18, 2012 |
WINNIPEG – Canola contracts on the ICE Futures Canada platform were trading at softer price levels at 8:30 CST Tuesday, following the losses seen in outside oilseed markets, analysts said.Read AlsoU.S. Grain/Oilseed Review: Soybeans, wheat fend off weaker crudeSOYBEAN futures at the Chicago Board of Trade were slightly higher on Friday, holding off the sharp declines in crude… Losses seen in European rapeseed and Malaysian palm oil futures during overnight trade also undermined canola prices. The liquidation of long positions by speculative traders ahead of the upcoming holiday season also put downward pressure on canola values. Improving weather conditions in South America, which could help farmers in the country produce a record large soybean crop, also added to the bearish price sentiment. General firmness in the value of the Canadian dollar, and chart-based selling, also fuelled some of the declines in canola. However, lack of significant farmer selling and firmness in the cash market, tempered the losses, market watchers said. As of 8:30 CST Tuesday, about 4,292 canola contracts had traded. Milling wheat, barley and durum were untraded and unchanged. Prices in Canadian dollars per metric ton at 8:30 CST: |
