By Dave Sims, Commodity News Service Canada
WINNIPEG, November 10 – Canola contracts on the ICE Futures Canada platform were slightly higher Monday morning, with values receiving strength from end-user demand and spillover buying in soybeans.
Soyoil and European rapeseed futures were also firmer today which lent support to values.
Concerns about the potential size of the South American crop also cast a slightly bearish tone over the market, according to a report.
Farmer selling has been sluggish which weighed on values.
The Canadian dollar was slightly higher, which cuts into crush margins and makes canola less attractive on the international market.
Volumes are thin this morning as traders wait for the release of the USDA monthly crop supply and demand report, due out at 11 am CT.
About 1,100 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:
