ICE Canola Futures Ease As Outside Oilseeds Decline
Tuesday, September 14, 2021 9:58 AM

Related Stories



, Sep. 14, 2010 (Resource News International) -- Canola contracts on the ICE Futures
Canada platform were trading at steady to weaker price levels
at 9:35 EDT. The lack of follow-through demand that was evident
in Monday's trade and declines in the outside oilseed markets
overnight, accounted for the losses seen in canola, market
watchers said.

Losses were posted overnight in e-CBOT soybean futures, as
well as in Malaysian palm oil and European rapeseed prices,
brokers said.

Anticipated declines in CBOT soybean futures with the
start of the North American day session, further encouraged the
weakness in canola, traders said.

Continued firmness in the Canadian dollar was adding to
the bearish sentiment in canola, with the strong currency
scaring off fresh export demand and causing crush margins for
domestic processors to deteriorate.

Analysts said some bearish fallout from the larger than
expected ending stocks forecast from Statistics Canada last
week also continues to weigh on canola futures.

News that ABARE has increased its estimate for this year's
Australian canola crop to 2.23 million metric tons, also had
bearish price implications for canola. With the higher
production, Australia's canola exports were also seen
increasing.

The losses in canola were tempered by outlooks calling for
a significant frost later this week in Alberta and
Saskatchewan, brokers said. The late development of this year's
canola crop has left it more vulnerable than normal to frost
damage.

As of 9:35 EDT, there were 664 canola contracts traded.

As of 9:35 EDT, no western barley contracts had been
traded.

Prices in Canadian dollars per metric ton at 9:35 EDT:

Price Change
Canola
Nov 457.20 dn 1.70
Jan 462.10 dn 1.50
Mar 463.60 dn 3.80
Western Barley
Oct 170.00 unchanged
Dec 180.00 unchanged

 

Sponsors

Symbol :

Advertisement

Market news:

  • Egypt activists struggle to monitor election Nov 25, 2021 03:21 AM

    • CAIRO - Rights activists in Egypt are struggling to ensure they will be able to monitor parliament elections Sunday that they expect to be plagued by rigging.
    • Egyptians who witness any cheating, police intimidation or violence will be able to send messages via mobile phones, Facebook and Twitter to volunteers staffing a website called U-shahid.com, who will then post the location and nature of the violations on a map of Egypt.
    • Past elections in Egypt have been riddled with vote rigging in favor of the ruling party, ensuring its hold on parliament, according to human rights groups.
      • Walker leads UConn to Maui title over Kentucky Nov 25, 2021 03:20 AM

        • LAHAINA, Hawaii - The Connecticut Huskies leave Hawaii with a big trophy and bigger expectations.
        • Finishing off a dominating tournament, Kemba Walker scored 29 points and Connecticut beat a Top 10 team for the second straight day, knocking off No.
        • 8 Kentucky with an 84-67 rout to win the Maui Tournament on Wednesday night.
          • Powerful storm to bring snow, ice to the Dakotas Nov 25, 2021 03:18 AM

            • BISMARCK, N.D. - A powerful storm that pummeled much of the West is promising to bring its chaotic mix of snow, sleet and ice to much of the Dakotas on Thanksgiving Day.
            • Meteorologists warned residents in the Dakotas to expect a range of messy wintery weather, from freezing drizzle in the eastern two-thirds of South Dakota to a possible blizzard in eastern North Dakota.
            • "Like the Boy Scouts, you've got to be prepared for a North Dakota winter or you're asking for your own problems," said Gerald Miller, 52, who plowed roads on his farm just east of Bismarck on Wednesday.
              • Pope's remarks on condoms sow widespread confusion Nov 25, 2021 03:18 AM

                • RALEIGH, N.C. - Some Roman Catholics are confused.
                • Days after the release of Pope Benedict XVI's comments that condoms can be justified to prevent the spread of HIV, there is widespread confusion about exactly what he was trying to say.
                • "It's a mess," said John Haas, president of the National Catholic Bioethics Center in Philadelphia, which advises church leaders, hospitals and Vatican offices.
                  • Airport protest never takes off, few delays seen Nov 25, 2021 03:18 AM

                    • CHICAGO - The big Opt-Out looked like a big bust Wednesday as most of the Thanksgiving travelers selected for full-body scans and pat-down searches chose to submit to them rather than create havoc on one of the busiest flying days of the year.
                    • For days, activists had waged a loosely organized campaign on the Internet to encourage airline passengers to refuse full-body scans and insist on a pat-down in what was dubbed National Opt-Out Day.
                    • "It was a day at the beach, a box of chocolates," said Greg Hancock, 61, who breezed through security at the Phoenix airport on the way to a vacation in California.

                      More news


Advertisement

    Recent Estimates

AnalystFirm NameSymbolEPS Estimate
XXXXXXXXXX OVTI$0.43
sam farahanXXXXX TECD$0.95
XXXXXXXXXX GSS$0.05
XXXXXXXXXX ABB$0.31
adfgafg ERTS($0.26)
XXXXXXXXXX SD$0.03
XXXXXXXXXX ATML$0.11
XXXXXXXXXX CBPO$0.32
XXXXXXXXXX MA$3.54
XXXXXXXXXX WFR$0.13