By Dave Sims, Commodity News Service Canada
WINNIPEG, November 3 – Canola contracts on the ICE Futures Canada platform were slightly lower Thursday morning, as gains in US soy were offset by currency issues.
Weather delays in the western Canadian harvest contributed to the upside.
Canola appears to have found solid chart support which could prompt technical buying, an analyst said.
Global demand for oilseeds is steady.
However, on the other side, strength in the Canadian dollar, relative to its US counterpart, made canola less attractive on the international market.
The weather is turning drier on the Prairies, which should allow farmers some time to get more canola off the field.
About 1,900 canola contracts had traded as of 8:55 CDT.
Milling wheat, barley and durum were untraded.
Prices in Canadian dollars per metric ton at 8:55 CDT:
