By Dave Sims, Commodity News Service Canada
WINNIPEG, August 20 – Canola contracts on the ICE Futures Canada
platform were mostly lower Wednesday morning in choppy trading as
investors positioned themselves ahead of Statistics Canada’s
production estimates, which are due out on Thursday.
Favourable weather forecasts across much of Western Canada this week
added to the negative tone along with soybeans which were mostly
lower.
Soyoil and Malaysian palm oil were both lower which was bearish.
However a weaker Canadian dollar and slow farmer selling helped to
limit the losses, said an analyst.
Traders will be hesitant to unload contracts today before the report
is released, which could underpin values slightly, said an analyst.
About 1,300 canola contracts had traded as of 8:35 CDT.
Milling wheat, durum, and barley futures were all untraded and
unchanged.
Prices in Canadian dollars per metric ton at 8:35 CDT:
