Winnipeg, MB, Dec. 8, 2014

ICE Futures Canada canola contracts settled with solid gains on Monday, seeing a continuation of Friday's rally as fund buying interest came forward to provide support.

With no real fresh fundamental news to speak of, the gains were largely technical in nature, according to a broker who said fund traders were likely adding to their net long position.

A softer tone in the Canadian dollar and a continued lack of significant farmer selling were also supportive, said traders.

Canola remains attractively priced compared to other oilseeds as well, but exporters and domestic crushers were not thought to be chasing the market higher on Monday. A broker noted that the upward revision to the size of the Canadian canola crop in last week's Statistics Canada production report was likely tempering some of the end user demand, as the supply/demand balance might not be as tight as originally thought.

About 33,272 canola contracts were traded on Monday, which compares with Friday when 36,333 contracts changed hands. Spreading accounted for 22,924 of the contracts traded.

Milling wheat, durum, and barley were all untraded.

Settlement prices are in Canadian dollars per metric ton.

                          Price      Change
Canola            Jan     429.10    up 6.40
                  Mar     426.40    up 5.50
                  May     428.80    up 5.50
Milling Wheat     Mar     240.00    unch
                  May     243.00    unch
Durum             Mar     357.50    unch
                  May     357.50    unch
Barley            Mar     177.00    unch
                  May     179.00    unch
     Spread trade prices are in Canadian dollars and the volume
represents the number of spreads:
Months        Prices                      Volume
Canola
Jan/Mar       1.80 over to 3.00 over        6907
Jan/May       0.10 under to 1.10 over        122
Jan/Jul       1.50 under to 0.80 under        58
Mar/May       2.50 under to 1.70 under      2186
Mar/Jul       3.90 under to 3.10 under        95
Mar/Nov       1.80 under                     417
May/Jul       2.00 under to 1.10 under      1209
Jul/Nov       2.30 over to 3.50 over         428

Commodity News Service