By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG, Dec. 2 (CNS Canada) – ICE Canada canola contracts were mostly lower Friday morning, as losses in CBOT soyoil and a firmer Canadian dollar weighed on values.
Uncertainty ahead of next week’s Statistics Canada crop production report was another factor keeping some caution in the market, as traders are unsure just what to expect from the final report of the year given the fact that many fields were still unharvested when the survey was conducted.
Solid export and domestic crusher demand helped limit the losses, as canola remains attractively priced to end users.
Gains in CBOT soybeans also lent some spillover support, according to participants.
About 5,000 canola contracts had traded as of 8:57 CST.
Milling wheat, durum, and barley futures were all untraded.
