Winnipeg Commodity Exchange Grain and Oilseed Futures Trading Activity Report

Grain and oilseed futures at the Winnipeg Commodity Exchange (WCE) experienced a mixed trading session on Monday, with canola values being the focus of early activity. Canola prices were pressured by weaker soybean and soyoil prices on the Chicago Board of Trade (CBOT) and a stronger Canadian dollar. However, cold conditions in western Canada continued to support canola values, while commercial buying on a limited scale helped to mitigate declines.

Key Takeaways:

• Canola values were down at midday due to weaker CBOT soybean and soyoil prices, as well as a stronger Canadian dollar.
• Commission houses were noted as sellers in the canola pit, while commercial buying helped to limit the declines.
• Cold conditions in western Canada continued to support canola values, despite a lack of overnight Canadian canola sales.
• The Jan/Mar spread in the canola market was a notable feature, with over 400 contracts trading at C$3.90 under, despite only 136 open positions in the Jan contract.
• Western barley futures were narrowly mixed in light, choppy trade, with weakness in CBOT corn futures weighing on the market.
• Feed wheat values were steady to lower in thin trade, with ample feed grain supplies in western Canada remaining bearish for the market.

Statistics:

• Canola prices were down at midday, with over 400 contracts trading in the Jan/Mar spread at C$3.90 under.
• There were only 136 open positions in the Jan canola contract, despite the notable spread trade.
• Cold conditions in western Canada continued to support canola values, with no overnight Canadian canola sales reported.
• Western barley futures were narrowly mixed, with 10 of 12 contracts trading lower at midday.
• Feed wheat values were steady to lower, with only 0.5% of open interest traded in the forward contract.

Sources:

• Resource News International via COMTEX
• Winnipeg Commodity Exchange (WCE)
• Chicago Board of Trade (CBOT)