By Terryn Shiells, Commodity News Service Canada
WINNIPEG, March 20 – Canola contracts on the ICE Futures Canada platform were mixed amid choppy two-sided activity Friday morning.
Profit taking on Thursday’s advances was bearish, as was spillover pressure from the declines seen in Chicago soyoil and Malaysian palm oil futures.
Further downward pressure came from the stronger Canadian dollar, as it made canola less attractive to crushers and exporters.
On the other side, some spillover support came from the advances seen in Chicago soybeans and European rapeseed futures, analysts said.
Concerns about a drier weather bias harming the upcoming 2015/16 Canadian canola crop and steady commercial demand were also bullish.
As of 8:41 CDT Friday, about 1,550 contracts had traded.
Milling wheat, durum and barley futures were untraded following price revisions after Thursday’s close.
Prices in Canadian dollars per metric ton at 8:41 CDT:
