WINNIPEG--Canola contracts on the ICE Futures Canada platform were weaker Wednesday morning, undermined by chart-based selling after the market broke below psychological support, analysts said.
Expectations that farmers will plant about one million more acres of canola this spring compared to last year weighed on the market. Statistics Canada will release its first planting intentions report for 2014/15 (Aug/Jul) Thursday morning.
Spillover pressure from the losses seen in Chicago soyoil, Malaysian palm oil and European rapeseed futures was also bearish, as was the large Canadian canola supply situation.
However, continued ideas that canola is undervalued compared to other oilseeds helped to limit the declines.
The downswing in the value of the Canadian dollar was also supportive for canola futures.
As of 8:39 a.m. CDT Wednesday, about 5,750 contracts had traded.
Milling wheat, durum and barley futures were untraded following price revisions after the close on Tuesday.
Prices in Canadian dollars per metric ton at 8:39 a.m. CDT:
Price Change Canola May 448.00 dn 3.20 Jul 457.00 dn 3.60 Nov 473.70 dn 3.00 Milling Wheat May 216.00 unch Jul 214.00 unch Durum May 250.00 unch Jul 250.00 unch Barley May 139.50 unch Jul 140.50 unch
Регион | Закуп. | Изм. | Прод. | Изм. |
---|---|---|---|---|
ЦФО |
29150.00 | + 700 | 29160.00 | + 660 |
ПФО |
27950.00 | + 300 | 28050.00 | + 50 |
СКФО |
28700.00 | + 500 | 28950.00 | - 50 |
ЮФО |
28150.00 | - 200 | 28950.00 | - 50 |
СФО |
28400.00 | - 100 | 28300.00 | - 200 |
Регион | Закуп. | Изм. | Прод. | Изм. |
---|---|---|---|---|
ЦФО |
71000.00 | + 850 | 73250.00 | + 1380 |
ЮФО |
69800.00 | + 200 | 74000.00 | + 3500 |
ПФО |
71000.00 | + 1450 | 73000.00 | + 2950 |
СФО |
72000.00 | + 1800 | 75000.00 | + 4500 |
Обсуждение