By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG (CNS Canada) – ICE Futures canola contracts were posting small losses Monday morning, although activity was thin and choppy.
Losses in Chicago Board of Trade soyoil and other international vegetable oil markets accounted for some of the spillover selling pressure.
However, soybeans were firmer in Chicago, while a softer tone in the Canadian dollar was also supportive.
Statistics Canada releases its latest stocks report on Tuesday, and positioning ahead of the data accounted for some of the activity. The report will show grain supplies in the country as of Dec. 31, and should provide a picture of usage-to-date.
About 3,000 canola contracts had traded as of 9:06 CST.
Prices in Canadian dollars per metric ton at 9:06 CST:
Price Change
Canola Mar 482.20 dn 0.20
May 489.90 dn 0.50
Jul 497.20 dn 0.50
Nov 494.90 dn 0.60
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