By Dave Sims, Commodity News Service Canada
WINNIPEG, September 16 – Canola contracts on the ICE Futures Canada platform were slightly higher at 10:45 CDT on Friday, taking strength from delays in the Canadian harvest and advances in the US soy complex.
Rain and cold temperatures in Saskatchewan, Manitoba and Alberta have hampered farmers’ efforts to get the crop off the field.
Weakness in the Canadian dollar added support, as it made canola more enticing to international buyers using US funds.
The bias is tilted to the upside as canola appears to have found some floor support on the charts.
However, harvest pressure limited the advances.
Large global supplies were also bearish for prices.
There is still a lot of uncertainty regarding whether or not China will adjust dockage allowances on imports of Canadian canola.
About 11,000 canola contracts had traded as of 10:45 CDT.
Milling wheat, barley and durum were all untraded.
Prices in Canadian dollars per metric ton at 10:45 CDT:
