Food Industry
Industry: Email Alert RSS FeedWCE Market Outlook: Canola Stuck In A Range.
Resource News International, July, 2005
WINNIPEG July 13 RNI, Jul 13, 2005 (Resource News International via COMTEX)
Winnipeg Commodity Exchange (WCE) futures markets closed the week ended July 13th lower as the favorable crop outlook and the lack on non-traditional export demand pressured the market down in the face of a large rally in Chicago Board of Trade soybean futures, traders said.
"This ( Nov canola) market is stuck in a trading range of $285 to $310 (per metric ton) unless we see some unusual demand", said Mike Jubinville, an analyst with ProFarmer Canada. He indicated that canola supply in 2005-06 will be large with most traders looking for total supplies of a record 10 mln metric tons. Large incoming supplies and a large crop have prompted the forecasts for record supplies in the...
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