By Dave Sims, Commodity News Service Canada
WINNIPEG, October 24 – Canola contracts on the ICE Futures Canada platform were mostly higher Friday morning, taking their direction from US soybeans.
The vegetable oil market was also firmer today which lent support to values.
The technical bias is higher, according to an analyst.
Trading could be choppy as some investors look for bargains before the weekend, according to a report.
Soybean crops in South America have received some much-needed rain, which was bearish.
The Canadian dollar was also higher, which limited the gains.
About 4,000 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:
