By Terryn Shiells, Commodity News Service Canada
November 14, 2013
WINNIPEG – Canola contracts on the ICE Futures Canada platform were slightly firmer Thursday morning, following the advances seen in Chicago soyoil, analysts said.
Continued slow farmer selling in Western Canada also helped to underpin values.
The downswing in the value of the Canadian dollar provided further support, as it made canola more attractive to crushers and exporters.
However, spillover pressure from the losses seen in Chicago soybeans, European rapeseed and Malaysian palm oil futures limited the gains.
The large Canadian canola supply situation and expectations of a record large South American soybean crop continued to overhang the market.
As of 8:42 CST Thursday, 3,695 canola contracts had traded.
Milling wheat, durum and barley futures were untraded, though milling wheat prices were revised slightly lower after the close on Wednesday.
Prices in Canadian dollars per metric ton at 8:42 CST:
