By Jade Markus, Commodity News Service Canada
WINNIPEG, October 27 – ICE Canada canola contracts were mixed, but mostly lower in early activity on Thursday.
Losses in the Chicago Board of Trade soybean and soy oil markets pressured canola in early activity.
Overnight weakness in Malaysian palm oil also had a bearish effect on prices.
The Canadian dollar was mostly unchanged against its US counterpart Thursday morning.
Strength from adverse weather in Western Canada underpinned the market and limited losses.
Moisture in parts of the Prairies is further stalling harvest, which is bullish.
A stronger technical bias added to canola’s strength, market watchers say.
About 5,682 canola contracts had traded as of 8:48 CDT.
Milling wheat, durum, and barley futures were all untraded and unchanged.
