Winnipeg, MB, Sept. 16, 2014

ICE Futures Canada canola contracts were weaker on Tuesday, as commercial hedges came forward to weigh on prices.

With improving weather conditions allowing harvest operations to move forward across Western Canada, the resulting hedges were also reported to be picking up in the futures market, according to participants.

Losses in CBOT soyoil put some spillover pressure on canola as well, as gains in that market had propped up the Winnipeg futures in recent days.

A firmer tone in the Canadian dollar was another bearish influence, as the strengthening currency cuts into crush margins and makes exports less attractive, said participants.

On the other side, scale-down end user demand, chart support, and ongoing uncertainty over the size of this year's canola crop help limit the losses.

About 19,231 canola contracts were traded on Tuesday, which compares with Monday when 13,338 contracts changed hands. Spreading accounted for 13,202 of the contracts traded.

Milling wheat, durum, and barley were all untraded.

Settlement prices are in Canadian dollars per metric ton.

                          Price      Change
Canola            Nov     412.20    dn 3.80
                  Jan     416.90    dn 3.50
                  Mar     422.60    dn 3.70
Milling Wheat     Oct     192.00    unch
                  Dec     199.00    unch
Durum             Oct     288.80    unch
                  Dec     294.80    unch
Barley            Oct     123.50    unch
                  Dec     125.50    unch
     Spread trade prices are in Canadian dollars and the volume
represents the number of spreads:
Months        Prices                      Volume
Canola
Nov/Jan       4.90 under to 4.10 under     3,148
Nov/Mar       10.60 under to 9.90 under       88
Nov/May       14.00 under                     10
Nov/Jul       17.10 under                      1
Jan/Mar       5.80 under to 5.20 under     1,621
Jan/Jul       12.80 under                      3
Mar/May       4.20 under to 3.60 under       460
Mar/Jul       6.90 under                      12
May/Jul       3.60 under to 3.20 under       545
May/Nov       4.40 over to 4.80 over           3
Jul/Nov       7.10 over to 9.40 over         710

Commodity News Service