(RNI) — Winnipeg Commodity Exchange grain and oilseed
futures closed Tuesday’s session mixed with grains narrowly mixed and canola firm on
continued ideas that exports are being made as the Canadian dollar falls, brokers said.
Canola saw a moderate trade with intermonth spreading a minor component of the
volume.
The total canola volume was estimated at 9,780 contracts, down from Monday’s
18,002 contracts, including an estimated 1,588 contracts that were involved in the spread
trade.
Canola prices held small gains in the face to steep declines in the Chicago Board of
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Canadian dollar gave support.
Canadian currency and the U.S. greenback are almost back to par and that was felt
to be a significant point for the export market, traders said.
Also giving some support were the disciplined scale-up nature of farmer pricing and
friendly technical signals, traders said.
Exporters were strong buyers, with activity covering more than just routine business,
brokers said. Crushers were also buyers. The selling came mainly from commercials with
elevator company hedging noted. Speculators were also sellers.
Western barley futures posted marginal losses as the weakness in CBOT corn was
offset by the slow pace to farmer selling and ideas that recent losses in barley have been
Traders noted that March barley has dropped almost $40 per tonne since early
October, while March CBOT corn has rallied US50 cents per bushel in the same timeframe.
Commercials dominated the activity.
The total barley trade was estimated at 262 contracts, up from Monday’s 145
contracts, with the majority of the activity comprised of spreading.
Feed wheat was little changed amid a lack of activity.
WCE closing prices in Canadian dollars per tonne, Nov. 27, 2007
| Settlement | Change | |
| prices | ||
| Canola | ||
| Jan | 470.70 | up 1.70 |
| Mar | 481.60 | up 2.20 |
| Nov | 478.00 | up 2.00 |
| Feed wheat | ||
| Dec | 184.00 | up 2.00 |
| Mar | 185.00 | unch |
| Western barley | ||
| Dec | 175.00 | dn 1.00 |
| Mar | 188.60 | dn 0.10 |
WCE spread trade prices, in Canadian dollars. “Volume” represents the number of
spreads.
| Month | Price | Volume |
| Canola | ||
| Jan/Mar | 10.80-11.00 | 346 |
| Jan/May | 19.70-20.00 | 9 |
| Jan/July | 26.10-27.20 | 87 |
| Jan/Nov | 6.60-9.50 | 50 |
| Mar/May | 8.60-8.70 | 30 |
| Mar/July | 15.40-16.70 | 2 |
| July/Nov | 20.00-18.00 over | 254 |
| Nov08/Jan09 | 5.20-5.30 | 16 |
| Barley | ||
| Dec/Mar | 13.30-14.00 | 86 |
