ICE Canola Higher With Soybeans
By Dave Sims, Commodity News Service Canada
WINNIPEG, August 28 – Canola contracts on the ICE Futures Canada platform were higher Thursday morning, following CBOT soybeans.
Spillover buying in Malaysian palm oil and European rapeseed supported values.
However, cold temperatures in the Prairies were also bullish.
A stronger Canadian dollar and an expected large soybean harvest in the US continued to pressure the market.
Losses in nearby CBOT soyoil contracts helped limit the gains.
Trading is expected to experience some volatility today as investors prepare for the long weekend in Canada and the US, according to an analyst.
About 1,600 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:
