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Winnipeg Commodity Exchange Sees Mixed Trading After Holiday Break

Strategic Insights

— 1 min read

The Winnipeg Commodity Exchange (WCE) resumed trading on December 29, 2004, after the Christmas break, with grain and oilseed futures seeing a mixed performance. Canola futures experienced moderate losses, while feed wheat posted strong gains in moderate trade. The market was influenced by factors such as increased farmer pricing, sluggish fresh export demand, and a firm Canadian dollar.

Key Takeaways:

  • Canola futures posted moderate losses in moderate trade, with the price pressured down by increased farmer pricing and sluggish fresh export demand.
  • The spreading accounted for over half the activity, with an estimated 6,392 contracts traded, up from 1,567 contracts in Friday's trade.
  • Agricore United was a seller of canola, contributing to the downward pressure on the market.
  • Feed grain futures ended mixed, with western barley edging down mainly due to a lack of end-user demand, while feed wheat posted strong gains in moderate trade.
  • The weak tone in CBOT grains was considered a minor influence on the market, and end-user short covering met commercial selling.
  • There was trade in the Mar/May spread at $3.00 for western barley, with an estimated 184 contracts traded, up modestly from 162 contracts traded on Friday.
  • The market was also influenced by exporter scale-down buying and the firm Canadian dollar, which put pressure on the market lower.

Statistics:

  • Canola futures traded at an estimated 6,392 contracts, up from 1,567 contracts in Friday's trade.
  • The increasing farmer pricing and sluggish fresh export demand contributed to the downward pressure on the canola market.
  • Feed wheat posted strong gains in moderate trade, with an estimated 506 contracts traded, up from 50 in Friday's activity.
  • The market was influenced by the firm Canadian dollar and exporter scale-down buying, weighing on the market lower.

Sources:

  • Resource News International (http://www.comtexnews.com)
  • Winnipeg Commodity Exchange (no specific date mentioned)

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