By Jade Markus, Commodity News Service Canada
WINNIPEG, September 1 – ICE Canada canola contracts strengthened in early activity on Thursday, propped up by losses in the Canadian dollar.
The loonie lost ground against its US counterpart in early activity, tracking declines in crude oil futures.
A decision from China to push back regulations that would dictate the amount of dockage allowed in Canadian canola shipments further underpinned the market.
Moisture in parts of Western Canada could curb yields and cause harvest delays, market watchers say, which added to the advances.
Canola’s technical bias is to the upside, analysts say, which is bullish.
About 2,114 canola contracts had traded as of 8:36 CDT.
Milling wheat, durum, and barley futures were all untraded and unchanged.
