By Dave Sims, Commodity News Service Canada
WINNIPEG, August 27 – Canola contracts on the ICE Futures Canada platform were higher Wednesday morning amid choppy trading, following the CBOT soy complex.
Concerns about cold temperatures in the Prairies were bullish.
There are ideas canola is oversold which helped push values
higher, said an analyst.
The loonie was up half a cent against its American counterpart
which pressured values and helped limit the gains.
Malaysian palm oil was lower which was bearish.
The technical bias remains to the downside, traders said.
About 1,400 canola contracts had traded as of 8:35 CDT.
Milling wheat, durum, and barley futures were all untraded and
unchanged.
Prices in Canadian dollars per metric ton at 8:35 CDT:
