By Terryn Shiells, Commodity News Service Canada
WINNIPEG, March 16 – Canola futures on the ICE Canada trading platform were narrowly mixed amid quiet, choppy activity at midday Monday.
Traders aren’t confident about which way the market should go, which kept values within a narrow range, according to a broker.
The Canadian dollar was slightly firmer on Monday, but canola was still finding some support from the loonie because it remains on the weak side.
Steady demand from domestic crushers and exporters was also bullish, as was the need to build weather premiums into new crop contracts.
On the other side, some spillover pressure came from the declines seen in the Chicago soy complex and Malaysian palm oil futures.
Talk that planting could start early in Western Canada this spring and the large global oilseed supply situation were also bearish.
As of 10:29 CDT Monday, about 6,560 contracts had traded.
Milling wheat, barley and durum futures were untraded and unchanged.
Prices in Canadian dollars per metric ton at 10:29 CDT:
