By Dave Sims, Commodity News Service Canada
WINNIPEG, September 23 – Canola contracts on the ICE Futures
Canada platform were mixed Tuesday morning, but the bias was lower
in the most active, nearby contracts. The firmer Canadian dollar and
losses in outside markets and the looming harvest put pressure on
values but gains in soyoil supported the more deferred positions.
European rapeseed was slightly weaker which was also bearish
for values.
Forecasts calling for warm temperatures across much of Western
Canada this week contributed to the downside as it is expected to
give farmers time to get much of the crop off.
Spillover buying is a possibility today as well, traders said.
There is room for a bounce in values, said an analyst.
About 1,800 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:
