By Dave Sims, Commodity News Service Canada
WINNIPEG, August 21 – Canola contracts on the ICE Futures Canada
platform were slightly higher Thursday morning due to the release
of Statistics Canada’s production estimates which anticipated 13.9
million tonnes of canola in 2014, down 22.6% from last year.
The projected number was also well below trade estimates made earlier
in the week. StatsCan forecast an average yield of 32 bushels an acre.
Spillover buying from Chicago soybeans and European rapeseed also
provided support, said an analyst.
Weaker soyoil and a stronger Canadian dollar limited the upside.
About 2,200 canola contracts had traded as of 8:35 CDT.
Milling wheat, durum, and barley futures were all untraded and
unchanged.
Prices in Canadian dollars per metric ton at 8:35 CDT:
