Canola futures at the Winnipeg
Commodity Exchange (WCE) finished Friday’s session higher with new
highs set in a number of contracts. The advances were spurred on by
continued talk of fresh export demand and the advances seen in the
CBOT soybean complex, market watchers said.
Some position evening ahead of the weekend and this weekend’s
transition of WCE commodities to the InterContinental Exchange
trading platform was a small feature of the activity.
The Winnipeg commodity Exchange’s electronic trading platform
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the transfer, there will also be new extended trading hours.
Trade at the WCE will start at 8:00 pm CT on Sunday, December
9, and trade straight through to 1;15 pm CT the following day. The
WCE currently trades from 9:30 am CT to 1:15 pm CT and overnight
from 6:30 pm CT to 6:00 am CT.
Canola futures were pushed to new highs with the advances
spurred on by talk of fresh export business and the advances seen in
CBOT soybean and soyoil values, traders said.
Steady domestic crusher demand and routine exporter pricing
helped to underpin prices.
Some support in canola was also related to light commodity fund
and speculative chart inspired buying, brokers said.
The gains in canola were tempered by outright liquidation of
positions by commercials and light, but steady hedge offers.
Firmness in the Canadian dollar also helped to slow the price
advances seen in canola.
There were an estimated 18,262 canola contracts traded during
Friday’s session, up from 14,564 during the previous session. Of the
contracts traded, 11,580 were spread related.
Western barley futures were generally higher with gains tied to
the tight supply outlook for the crop and the advances seen in CBOT
corn futures, traders said. Commercials were seen as both buyers and
sellers during the session.
An estimated 211 barley contracts changed hands during the
session. On Thursday, 333 contracts were traded. Of the contracts
traded Friday, 22 were spread related.
Feed wheat values were little changed in non-existent activity.
There were no feed wheat contract traded Friday. On
Thursday, no feed wheat contracts changed hands.
