By Dave Sims, Commodity News Service Canada
WINNIPEG, October 5 – ICE Canada canola contracts were higher Tuesday morning, holding onto Monday’s gains and enjoying strength in US soybeans.
Commercial buying is showing signs of picking up, according to a report.
The signing of the Trans-Pacific Partnership is expected to increase demand for Canadian canola, which was supportive.
However, US soyoil was mixed to start the day which stalled canola’s upward movement on the charts.
Farmers have been unloading supplies at a rapid pace which limited the gains.
So far, yields have been better than expected.
Wet, windy weather has delayed what’s left of the harvest across some parts of the Canadian Prairies.
About 4,700 canola contracts had traded as of 8:45 CDT.
Milling wheat, durum, and barley futures were all untraded and unchanged.
Prices in Canadian dollars per metric ton at 8:45 CDT:
