By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG, Dec. 24 – ICE Canada canola contracts were bouncing around both sides of unchanged Thursday morning in light and choppy activity, with many participants already on the sidelines ahead of the Christmas holiday.
The Canadian market will close at 12:00 CST today, and remain closed until next week Tuesday for Christmas and Boxing Day.
A firmer tone in CBOT soyoil provided some spillover support for canola, although soybeans were down. The US markets also close at noon today, and will reopen next week Monday.
Aside from speculative position evening, steady commercial buying interest was also said to be somewhat supportive.
Weather reports out of South America are being followed closely, with favourable conditions in some parts of the major soybean producing continent and concerns in others.
About 700 canola contracts had traded as of 8:45 CST.
Milling wheat, durum, and barley futures were all untraded.
