By Terryn Shiells, Commodity News Service Canada
WINNIPEG, Nov. 20 – Canola contracts on the ICE Futures Canada platform were narrowly mixed amid choppy activity Thursday morning.
Some spillover support came from the gains seen in Chicago soybean and Malaysian palm oil futures, analysts said.
Steady commercial demand for Canadian canola, paired with slow farmer selling in Western Canada, added to the bullish tone.
However, weakness in Chicago soyoil and European rapeseed futures in early and overnight activity helped to weigh on canola.
The upswing in the value of the Canadian dollar was also bearish, as it made canola less attractive to foreign buyers.
As of 8:47 CST, about 1,250 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 8:47 CST:
