By Jade Markus, Commodity News Service Canada
WINNIPEG, September 29 – ICE Canada canola contracts were stronger in early activity on Thursday, following gains in Chicago Board of Trade soy oil.
Soy oil gained Thursday morning, propped up by spill over support from overnight strength in Malaysian palm oil.
Strong crush activity further underpinned the canola market.
However, the Canadian dollar gained ground against its US counterpart, which is bearish for canola.
A stronger loonie makes canola less appealing to international buyers.
About 2,141 canola contracts had traded as of 8:42 CDT.
Milling wheat, durum, and barley futures were all untraded and unchanged.
