By Terryn Shiells, Commodity News Service Canada
Winnipeg, Feb. 12 – Canola contracts on the ICE Futures Canada platform were slightly higher Thursday morning, following the advances seen in Chicago soybean and soyoil futures, analysts said.
Follow-through buying on Wednesday’s gains and expectations that the Canadian dollar will remain weak going forward were also bullish.
Further support came from steady commercial buying interest for canola.
However, the Canadian dollar moved higher Thursday morning, which limited the gains.
Downward pressure also came from the weakness in Malaysian palm oil and European rapeseed futures in early overnight.
As of 8:44 CST Thursday, about 4,870 contracts had traded.
Milling wheat, durum and barley futures were untraded following revisions after Wednesday’s close.
Prices in Canadian dollars per metric ton at 8:44 CST:
