By Dave Sims, Commodity News Service Canada
WINNIPEG, June 4 – Canola contracts on the ICE Futures Canada platform were higher at 10:55 CDT Wednesday, as markets corrected themselves following recent declines.
Strong crusher buying activity and the weaker Canadian dollar were also lending support to canola, according to an analyst.
Spillover support also came from the gains seen in Chicago soyoil futures.
The tight US soy situation is losing its supportive influence on the oilseeds as South American soy satisfied demand, and traders turn their attention to the prospects for this year’s crops, according to a report.
Around 15,000 contracts had traded as of 10:55 CDT, Wednesday, with the July/November spread accounting for the bulk of the activity.
Milling wheat, durum, and barley futures were untraded and unchanged, after seeing some price revisions following Tuesday’s close.
Prices in Canadian dollars per metric ton at 10:55 CDT:
