Winnipeg Commodity Exchange Sees Mixed Futures Amidst Weather Adjustments

The Winnipeg Commodity Exchange (WCE) experienced a mixed bag of grain and oilseed futures, with canola values seeing gains amidst relatively light activity, while feed grains showed a weaker tone. As of the first hour and a half, around 2,000 trades had occurred, with commercial buying driving demand. The canola market saw a recovery from fresh contract lows set on Friday, as technical selling receded. Gains in CBOT soyoil and a weaker Canadian dollar also supported the Winnipeg market, sparking light domestic crusher demand.

Key Takeaways:

• Canola values rose at mid-session, with commercial buying accounting for most of the demand.
• Technical selling receded, allowing the canola market to recover from fresh contract lows set on Friday.
• Gains in CBOT soyoil and a weaker Canadian dollar supported the Winnipeg market, stimulating light domestic crusher demand.
• Western barley futures moved lower, setting fresh contract lows, due to warmer weather decreasing demand for feed.
• Feed wheat futures remained steady, with front months un-traded and more deferred positions seeing light activity.
• Weather adjustments limited the upside in canola, with export sources unable to confirm any overnight Canadian canola sales.

Statistics:

• 2,000 trades occurred in the first hour and a half.
• Canola values rose amidst relatively light activity.
• Western barley futures set fresh contract lows.
• Feed grain values showed a weaker tone.
• Gains in CBOT soyoil supported the Winnipeg market.
• A weaker Canadian dollar also contributed to the market's support.

Sources:

• Resource News International (http://www.comtexnews.com)
• Winnipeg Commodity Exchange (WCE)
• CBOT (Chicago Board of Trade)
• COMTEX (http://www.comtexnews.com)