Winnipeg Commodity Exchange Futures Called Steady to Mixed

Trade activity in the canola market slowed down after Monday's large volumes, and futures were expected to be steady to mixed at the open. However, some early support was provided by technical strength from Monday's firm close. Meanwhile, colder temperatures across western Canada may lead to increased feed demand, potentially supporting barley futures. The Canadian dollar's early strength and steady CBOT soybean values also influenced the market.

Key Takeaways:

• Canola futures were expected to be steady to mixed at the open due to slow trade activity following Monday's large volumes.
• Technical strength from Monday's firm close provided some early support to the canola market.
• CBOT soybean values were called steady to lower, which may add some direction to the canola market.
• Malaysian palm oil futures closed lower overnight, which could also impact the canola market.
• The Canadian dollar's early strength may have an effect on futures prices.
• Western barley was called mixed, with steady to lower calls in CBOT corn values potentially weighing on the market.
• Feed wheat may see a firmer start, recovering from some of Monday's losses, according to sources.
• The canola market is expected to remain relatively range-bound as activity quiets down ahead of Christmas.

Statistics:

• Trade activity slowed down significantly after Monday's large volumes in the canola market.
• CBOT soybean values were steady to lower, with the potential to influence the canola market.
• Malaysian palm oil futures closed lower overnight, impacting the canola market.
• The Canadian dollar's early strength increased futures prices.
• Western barley was mixed, with steady to lower calls in CBOT corn values potentially affecting the market.
• Feed wheat saw a firmer start, recovering from some of Monday's losses.

Sources:

• Resource News International via COMTEX
• COMTEX (http://www.comtexnews.com)