Winnipeg, MB, Nov. 7, 2014

ICE Futures Canada canola contracts traded to both sides of unchanged in choppy activity on Friday, but settled with small losses overall as a stronger tone in the Canadian dollar weighed on values.

The Canadian dollar was up by about three quarters of a cent relative to its US counterpart, which cuts into crush margins and also makes exports less attractive to international buyers pricing in US dollars.

However, end users were still showing good demand for canola, despite the currency-related adjustments, as they continue to work at encouraging farmer deliveries, said participants.

Gains in CBOT soybeans were also somewhat supportive for canola, helping limit the eventual losses in the Canadian market.

About 23,863 canola contracts were traded on Friday, which compares with Thursday when 28,503 contracts changed hands. Spreading accounted for about 11,202 of the contracts traded.

Milling wheat and durum were both untraded, but barley saw some light activity and moved higher for the second straight session.

Settlement prices are in Canadian dollars per metric ton.

                          Price      Change
Canola            Jan     435.10    dn 1.60
                  Mar     432.50    dn 0.70
                  May     431.20    dn 1.60
Milling Wheat     Dec     218.00    unch
                  Mar     224.00    unch
Durum             Dec     356.50    unch
                  Mar     357.50    unch
Barley            Dec     154.00    up 8.00
                  Mar     150.00    unch
    Spread trade prices are in Canadian dollars and the volume
represents the number of spreads:
Months        Prices                      Volume
Canola
Jan/Mar       0.50 over to 3.70 over        3372
Jan/May       1.00 over to 4.10 over          74
Jan/Jul       3.60 over to 4.00 over          23
Mar/May       0.20 under to 1.50 over        875
Mar/Jul       1.20 over to 2.60 over           7
Mar/Nov       6.60 over                        2
May/Jul       0.30 over to 1.50 over        1181
May/Nov       6.30 over to 7.10 over           8
Jul/Nov       3.80 over to 7.00 over          59

Commodity News Service