By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG, June 5 (CNS Canada) – ICE Futures Canada canola contracts were narrowly mixed Tuesday morning, trading within a dollar of unchanged as the market saw some consolidation following recent losses.
A weaker tone in the Canadian dollar to start the day provided some underlying support for canola. Ideas that trade tensions between the United States and China could shift some Chinese soybean demand to Canadian canola were also supportive.
However, improving North American crop conditions weighed on values. While there are still areas of concern, recent rains across Western Canada helped improve the yield potential in many locations.
About 6,000 canola contracts had traded as of 8:45 CDT.
