By Terryn Shiells, Commodity News Service Canada
WINNIPEG, Sept 18 – Canola contracts on the ICE Futures Canada platform were mixed at 8:46 CDT Thursday, amid choppy activity as traders were looking for fresh market moving news, analysts said.
Some downward pressure came from the declines seen in Chicago soybean and soyoil futures, as well as the stronger Canadian dollar.
Improving weather in Western Canada, pressure from the advancing harvest activities in Canada and the US, were also bearish.
On the other side, there’s still enough uncertainty surrounding the size of this year’s Canadian canola crop to keep some weather premiums built into the market.
Overnight advances in Malaysian palm oil futures and some technical based buying were also supportive.
As of 8:46 CDT Thursday, about 4,975 contracts had traded.
Milling wheat, durum and barley futures were untraded following price revisions after Wednesday’s close.
Prices in Canadian dollars per metric ton at 8:46 CDT:
