By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG, April 25 (CNS Canada) – ICE Futures Canada canola contracts were narrowly mixed Wednesday morning in thin and choppy trade.
Weakness in Chicago Board of Trade soyoil futures, improving Prairie weather conditions, expectations for record large Canadian canola acres this spring, and ideas that canola is looking expensive compared to competing oilseeds all put some pressure on values, according to participants.
However, CBOT soybean futures were higher to start the day, which provided some spillover support. Weakness in the Canadian dollar and month-end short-covering were also supportive.
About 2,500 canola contracts had traded as of 8:50 CDT.
