By Dave Sims, Commodity News Service Canada
WINNIPEG, November 30 – Canola contracts on the ICE Futures Canada platform were higher at 10:35 CST on Wednesday, following gains in Chicago Board of Trade soyoil.
Advances in crude oil and European rapeseed futures were also supportive for the market.
The market is enjoying some chart support, according to a report.
Snow, rain and generally cold conditions have set in across the Prairies putting an end to most harvest activity.
Crushing activity continues to stay brisk, which was supportive.
However, losses in Malaysian palm oil and CBOT soybeans limited the gains.
The Canadian dollar is up slightly relative to its US counterpart, which made canola less desirable to out-of-country buyers.
About 23,500 canola contracts had traded as of 10:35 CST.
Milling wheat, barley and durum were all untraded.
Prices in Canadian dollars per metric ton at 10:35 CST
