By Jade Markus, Commodity News Service Canada
WINNIPEG, October 25 – ICE Canada canola contracts were slightly higher in early activity, following advances in Chicago Board of Trade soybeans.
Soybeans were underpinned by strong export demand Tuesday morning.
Crop-quality and harvest concerns, amid wet weather in Western Canada, also had a bullish effect on canola.
However, advances in the Canadian dollar against its US counterpart capped gains.
Weakness in other vegetable oil markets added to the downside.
Market watchers say canola could be susceptible to profit-taking, which could pressure prices in coming sessions.
About 8,356 canola contracts had traded as of 8:50 CDT.
Milling wheat, durum, and barley futures were all untraded and unchanged.
Prices in Canadian dollars per metric ton at 8:50 CDT:
