Winnipeg, MB, Sept. 30, 2014

ICE Futures Canada canola contracts were down on Tuesday, taking some direction from the losses in the CBOT soy complex.

The USDA released its quarterly stocks report on Tuesday, and tighter-than-expected old crop soybean supplies were a bit supportive for the oilseeds in general. However, soybeans were unable to hold onto any gains, as the record large production prospects for this year's soybean crop kept the bias pointed lower in the US market.

Canola lagged soybeans to the downside as uncertainty over the size of the Canadian canola crop kept some caution in the canola futures.

Statistics Canada releases updated production estimates on Friday, October 3, but the survey was conducted before any significant harvest activity had occurred.

The Canadian dollar was weaker on Tuesday, which provided some underlying support for canola, according to participants.

About 18,927 canola contracts were traded on Tuesday, which compares with Monday when 9,635 contracts changed hands. Spreading was a feature, accounting for 13,512 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     395.90    dn 2.10
                  Jan     402.50    dn 2.90
                  Mar     409.50    dn 3.10
Milling Wheat     Oct     190.00    unch
                  Dec     194.00    unch
Durum             Oct     303.20    unch
                  Dec     309.70    unch
Barley            Oct     125.00    unch
                  Dec     127.00    unch
     Spread trade prices are in Canadian dollars and the volume
represents the number of spreads:
Months        Prices                      Volume
Canola
Nov/Jan       7.40 under to 6.60 under     5,133
Nov/Mar       14.70 under to 13.50 under     277
Nov/May       20.40 under                     50
Nov/Jul       28.50 under to 26.00 under      81
Jan/Mar       7.30 under to 6.70 under       578
Jan/May       13.70 under to 13.50 under      26
Mar/May       7.30 under to 6.40 under       369
May/Jul       6.80 under to 5.80 under       242

Commodity News Service