Winnipeg, MB, August 19, 2014

ICE Futures Canada canola contracts ended weaker on Tuesday, as prices were undermined by the weakness seen in Chicago soyoil futures, analysts said.

Some of the losses were also linked to declines seen in the Malaysian palm oil market, which hit a new low in overnight activity.

Forecasts calling for beneficial weather in both the US and Western Canada this week added to the bearish tone.

Light trading volumes, as the market awaits Statistics Canada's first production estimates of 2014/15 (Aug/Jul) on Thursday, helped to amplify the declines.

However, slow farmer selling, as they wait for stronger prices, limited the losses, as did the sharply weaker Canadian currency.

About 8,937 contracts traded on Tuesday, which compares with Monday when 13,824 contracts changed hands. Spreading accounted for 4,056 of the trades.

Milling wheat, durum and barley futures were untraded and unchanged.

Settlement prices are in Canadian dollars per metric ton.

                          Price      Change
Canola            Nov     426.90    dn  4.80
                  Jan     431.40    dn  5.00
                  Mar     434.30    dn  4.90
Milling Wheat     Oct     200.00      unch
                  Dec     206.00      unch
Durum             Oct     250.00      unch
                  Dec     256.00      unch
Barley            Oct     135.00      unch
                  Dec     137.00      unch

Months        Prices                      Volume
Canola
Nov/Jan       4.90 under to 4.30 under     1,319
Nov/Mar       7.50 under                       3
Nov/May       6.10 under to 5.50 under        24
Nov/Jul       2.30 under to 2.00 under        26
Nov/Nov15     0.70 over                        3
Jan/Mar       3.00 under to 2.60 under       263
Jan/Jul       2.60 over                        1
Mar/May       1.70 over to 2.00 over         318
May/Jul       3.10 over to 3.50 over          24
Jul/Nov       0.90 over to 3.70 over          47

Commodity News Service Canada