By Jade Markus, Commodity News Service Canada
WINNIPEG, MB, October 4, 2016 (CNS Canada) – ICE Canada canola contracts were mixed, but mostly unchanged at midday on Tuesday.
“Canola is kind of frozen again, and it has been for a while now,” said one Winnipeg-based trader.
Losses in US soybeans and soy oil had a bearish effect on prices, but unfavourable weather in Western Canada underpinned the market.
“There’s certainly enough (canola still in fields) to be a serious concern as the weather is starting to fall apart on us,” the trader said.
Rain and snow forecasted for parts of the Prairies through the next three to five days have had a bullish effect on prices.
Losses in the Canadian dollar against its US counterpart further limited losses on Tuesday.
About 13,536 contracts had traded as of 10:26 CDT.
Milling wheat, durum and barley futures were all untraded and unchanged.
