By Dave Sims, Commodity News Service Canada
WINNIPEG, September 23 – Canola contracts on the ICE Futures Canada platform were higher Friday morning, due to action in the Canadian currency and gains in the US soy complex.
The Canadian dollar was weaker relative to its US counterpart, which made canola more attractive to its US counterpart.
Wet weather across parts of Western Canada continues to delay the harvest and spark concerns over the quality of canola.
Yesterday’s announcement by Prime Minister Justin Trudeau that Canada has reached a four-year agreement with China over dockage allowances in exports of canola was supportive.
However, large world supplies of oilseeds limited the gains.
Harvest pressure was a feature.
About 5,300 canola contracts had traded as of 8:50 CDT.
Milling wheat, barley and durum were untraded.
Prices in Canadian dollars per metric ton at 8:50 CDT:
