Winnipeg Commodity Exchange Grain and Oilseed Futures Close Mixed, Canola Prices End Lower

Strategic Insights -

Canola futures prices for the Winnipeg Commodity Exchange (WCE) ended lower in heavy trade, with an estimated 14,129 contracts changing hands, up from last Friday's 7,900 contracts. The market was pressured down by the slide in Chicago Board of Trade (CBOT) soyoil futures over the past two sessions, as well as the firm Canadian dollar and the lack of aggressive buying. Commodity funds were light sellers, with between 300 and 500 March futures contracts traded.

Key Takeaways:

  • Canola futures prices ended lower in heavy trade, with an estimated 14,129 contracts traded, up from last Friday's 7,900 contracts.
  • Commodity funds were light sellers, with between 300 and 500 March futures contracts traded.
  • Feed grains saw a light trade, with the market largely ignoring the choppy tone in CBOT corn.
  • Commercials were the main participants in feed grain trade.
  • Feed wheat edged up due to a lack of country selling and some light commercial buying, with an estimated 18 contracts changing hands, down from Friday's 646 contracts.
  • Western barley ended a bit higher as sluggish country movement lifted prices amid a lack of fresh news, with an estimated 182 contracts traded, down from 220 contracts on Friday.
  • Routine Japanese scale down pricing met commercial selling, reflecting some light routine Canadian farmer pricing as well as some Australian hedge selling.

Statistics:

  • 14,129 contracts traded in canola futures, up from last Friday's 7,900 contracts.
  • Between 300 and 500 March futures contracts traded by commodity funds.
  • 18 contracts changed hands in feed wheat, down from Friday's 646 contracts.
  • 182 contracts traded in Western barley, down from 220 contracts on Friday.
  • Soyoil futures slid over the past two sessions, pressuring WCE canola prices.

Sources:

  • Resource News International
  • Winnipeg Commodity Exchange (WCE)