By Phil Franz-Warkentin, Commodity News Service Canada
March 13, 2015
Winnipeg – ICE Canada canola contracts were stronger Friday morning, with a weaker tone in the Canadian dollar providing some underlying support.
The currency was down by roughly half a cent relative to its US counterpart, which makes exports more attractive and is also supportive for domestic crush margins.
Overnight advances in Malaysian palm oil and European rapeseed futures helped underpin the canola market as well, according to participants.
However, the CBOT soy complex was down Friday morning, which did put some pressure on canola. The large South American soybean crop also continued to weigh on values.
About 2,700 canola contracts had traded as of 8:50 CDT.
Milling wheat, durum, and barley futures were all untraded after seeing some price revisions following Thursday’s close.
Prices in Canadian dollars per metric ton at 8:50 CDT:
