(Resource News International) Winnipeg Commodity Exchange grain and
oilseed futures closed Monday’s session mixed with canola higher on the firm tone in
Chicago Board of Trade soyoil futures, brokers said.
Canola trade was moderate with intermonth spreading enhancing the overall
activity.
The total canola volume was estimated at 9,139 contracts, down from Friday’s
11,607 contracts, including an estimated 2,386 contracts that were involved in the spread
trade. Canola options saw 400 November 430 calls trade.
Canola futures rallied in step with gains in CBOT soyoil, with new contract highs in
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gains as well.
However, leading to some choppiness and limiting the gains were moderate
amounts of elevator company hedge selling as country movement remained steady as the
harvest heads into its final stages, cash dealers said. Profit taking by commission houses
was also noted. The firm Canadian dollar, as it continues to flirt with parity with the U.S.
greenback, and the lack of fresh exports also slowed the rise in canola futures.
Crushers were the best buyers with light routine exporter pricing noted.
Commodity funds were also buyers taking between 750 and 1,000 November contracts.
Western barley surged to fresh contract highs in moderate activity. The lack of
farmer selling, tight barley supplies and bullish technical signals lifted the market,
brokers said.
The buying was mixed with speculative buying stimulated by the technical
bullishness and commercial demand reflecting the tight cash markets as the Canadian Wheat Board is said to be buying cash barley supplies from the trade.
Weighing on the barley market was the firm Canadian dollar and the weak tone in
CBOT corn, analysts said.
The total barley trade was estimated at 2,295 contracts down from Friday’s 2,596
contracts.
Feed wheat ended mainly lower in a light choppy trade with prices undermined by
a lack of interest. The total volume was estimated at 124 contracts, down from 249
contracts on Friday.
