By Terryn Shiells, Commodity News Service Canada
WINNIPEG, March 13 – Canola futures on the ICE Canada trading platform were narrowly mixed at midday Friday amid quiet, choppy activity.
The “boring” sideways activity was linked to a lack of farmer selling, as they wait for more of a pop in prices, while exporters were waiting for more of a dip, according to a broker.
Some spillover pressure came from the declines seen in the Chicago soy complex.
The large global oilseed supply situation, as South America’s soybean crop is expected to be record large, was also bearish.
On the other side, some spillover support came from the gains seen in Malaysian palm oil and European rapeseed futures overnight.
The sharply lower Canadian dollar was also bullish, as it made canola more attractively priced to crushers and foreign buyers.
As of 10:27 CDT Friday, about 5,730 contracts had traded.
Milling wheat, barley and durum futures were untraded and unchanged.
Prices in Canadian dollars per metric ton at 10:27 CDT:
