By Jade Markus, Commodity News Service Canada
WINNIPEG, December 9 – ICE Canada canola contracts were lower at midday Wednesday ahead of a report from the United States Department of Agriculture (USDA).
A stronger Canadian dollar also pressured prices, but overall the market has been moving quietly, according to a Winnipeg-based analyst.
“It could be traders waiting for the report to come out before they do much, even though we’re not expecting any surprises on this report,” he said.
“It’s not going to tell us anything we don’t already know.”
Chicago Board of Trade soy contracts, which canola gathers direction from, were higher, but choppy ahead of the report.
Malaysian palm oil closed mixed.
About 7,128 canola contracts had traded as of 10:30 CST.
Milling wheat, durum, and barley futures were all untraded and
unchanged.
Prices in Canadian dollars per metric tonne at 10:30 CST:
