By Jade Markus, Commodity News Service Canada
WINNIPEG, November 18 – ICE Canada canola contracts were mixed, but mostly higher in early activity on Friday, as front contracts were supported by gains in the Chicago Board of Trade soy oil market.
A stronger technical bias and independent strength also had a bullish effect on prices.
Ideas that farmer selling could be slower than previously expected, due to a new cash-advance option, added to the upside on Friday.
However, the Canadian dollar advanced against its US counterpart in early activity, which capped gains in more deferred contracts.
A stronger loonie reduces international demand for Canadian commodities.
About 3,086 canola contracts had traded as of 9:03 CST.
Milling wheat, durum, and barley futures were all untraded and unchanged.
