(RNI) — Winnipeg Commodity Exchange grain and oilseed
futures closed Monday’s session mixed, with canola higher in step with the late gains in
Chicago Board of Trade (CBOT) soy complex values, brokers said.
Canola trade was moderate with intermonth spreading augmenting the activity.
The total canola volume was estimated at 9,966 contracts, up from Friday’s 8,288
contracts, with an estimated 3,352 contracts involved in the spread trade.
Canola initially fell with the declines in the CBOT soy complex, but then turned
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the gains was talk that three cargoes of canola had been sold to China last week for December/January
shipment. Exporters were unable to confirm the talk.
The firmer tone in the Canadian dollar had little impact on the market, with friendly
technical signals also supportive.
Capping the gains was heavy farmer selling, as farm gate bids have risen to the
$10-per-bushel price level in many parts of Western Canada.
Routine exporter buying was augmented by crusher pricing and commercial short
covering, with the bulk of the selling coming from commercials as elevator company
Western barley futures ended lower in light trade amid a lack of news. The market
was undermined by the lack of end-user pricing and weakness in CBOT corn futures.
However, trading volumes were small and it only took light selling to pressure values
down, brokers said.
The total estimated volume was 145 contracts, down from Friday’s 866 contracts
with an estimated 56 contracts involved in the spread trade.
Feed wheat futures were untraded and steady to modestly higher amid a lack of
interest.
WCE closing prices, Canadian dollars per tonne, Nov. 26, 2007
| Settlement | Change | |
| prices | ||
| Canola | ||
| Jan | 469.00 | up 2.10 |
| Mar | 479.40 | up 1.40 |
| Nov | 476.00 | up 2.80 |
| Feed wheat | ||
| Dec | 182.00 | unch |
| Mar | 185.00 | up 0.50 |
| Western barley | ||
| Dec | 176.00 | dn 2.00 |
| Mar | 188.70 | dn 2.00 |
WCE spread trade prices, in Canadian dollars. “Volume” represents the number of
spreads.
| Month | Price | Volume |
| Canola | ||
| Jan/Mar | 10.00-11.00 | 1,508 |
| Jan/May | 18.60-20.10 | 21 |
| Jan/July | 25.50-27.00 | 32 |
| Jan/Nov | 6.50-6.60 | 20 |
| Mar/May | 8.50-8.60 | 18 |
| Mar/July | 15.20-15.50 | 15 |
| July/Nov | 17.50-17.20 over | 77 |
| Nov08/Jan09 | even | 4 |
| Barley | ||
| Dec/Mar | 12.00-14.00 | 18 |
| Mar/May | even | 10 |
