By Jade Markus, Commodity News Service Canada
WINNIPEG, October 6 – ICE Canada canola contracts were mixed, but mostly unchanged, on Thursday.
“Thinly traded today, there’s not much going on. Prices have been able to stabilize somewhat on the weather delays,” said one Winnipeg-based analyst.
Snow and rain across parts of Western Canada have limited farmers’ ability to get into their fields, which is bullish.
The Canadian dollar was weaker against its US counterpart at midday on Thursday, which further underpinned the market, as a weaker domestic currency makes canola more appealing to international buyers.
However, demand has been mostly flat this week, the analyst said, which limited advances.
Spillover losses from the Chicago Board of Trade soybean market also capped gains.
About 6,378 contracts had traded as of 10:26 CDT.
Milling wheat, durum and barley futures were all untraded and unchanged.
