By Dave Sims, Commodity News Service Canada
WINNIPEG, November 2 – Canola contracts on the ICE Futures Canada platform were bouncing around unchanged Wednesday morning, buffeted by bullish harvest delays in Western Canada and losses in vegetable oil.
The loonie was slightly higher relative to its US counterpart, which made canola less attractive to international buyers.
There are indications some farmers may be able to get back onto the fields in the next few days as drier weather returns to portions of the Prairies.
However, on the other side, it is still unclear how much canola will be taken off before winter, which was supportive.
Global demand for oilseeds is strong and traders may be hesitant to push down prices too quickly, according to a report.
About 5,800 canola contracts had traded as of 8:55 CDT.
Milling wheat, barley and durum were untraded.
Prices in Canadian dollars per metric ton at 8:55 CDT:
