By Dave Sims, Commodity News Service Canada
WINNIPEG, September 29 – Canola contracts on the ICE Futures Canada platform were slightly higher at 10:35 CDT on Thursday, tracking gains in US soybeans and soyoil.
The Canadian dollar was lower relative to its US counterpart, which made canola more attractive to foreign buyers.
Malaysian palm oil and European rapeseed futures were also higher, which was supportive.
Crushers continue to run at full speed which should keep demand steady, according to a report.
Constant wet weather this season has raised concerns about canola quality.
However, the advancing western Canadian harvest helped limit the losses.
Soybean yields in the US will likely increase in the coming days, said a trader.
The market is rangebound.
About 7,200 canola contracts had traded as of 10:35 CDT.
Milling wheat, barley and durum were all untraded.
Prices in Canadian dollars per metric ton at 10:35 CDT:
