By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG, Nov. 18 (CNS Canada) – Canola contracts on the ICE Futures Canada platform were narrowly mixed at midday Friday in relatively thin volumes.
Ongoing uncertainty over the size of this year’s canola crop remained supportive, as traders continue to try and get a better handle on just how much canola was lost due to the adverse harvest weather.
Favourable technical signals and gains in Chicago Board of Trade soyoil futures were also supportive for canola, according to participants.
However, farmers have made some good progress over the past two weeks bringing in a fair amount of the unharvested canola, which should be tempering the upside. Positioning ahead of the weekend and large US soybean supplies also kept some caution in the canola market.
About 5,000 canola contracts had traded as of 10:51 CST.
Milling wheat, durum, and barley futures were all untraded and unchanged.
