By Jade Markus, Commodity News Service Canada
WINNIPEG, October 3 (CNS Canada) – ICE Canada canola contracts gained ground in choppy trade on Monday.
The market was supported by advances in US soybeans and losses in the Canadian dollar.
CBOT soybeans gained, underpinned by a slightly supportive stocks report released by the United States Department of Agriculture on Friday.
The loonie declined against its US counterpart on Monday.
However, weakness in Chicago Board of Trade soy oil limited advances.
Harvest pressure was also a feature on Monday.
“I guess harvest is winding up across the prairies, as far as canola goes, this stuff is hitting the market and that’s probably what’s putting selling in,” said one Winnipeg-based trader.
About 5,933 contracts had traded as of 10:22 CDT.
Milling wheat, durum and barley futures were all untraded and unchanged.
