By Ashley Robinson, Commodity News Service Canada
WINNIPEG, MB, Oct. 2, 2018 (CNS Canada) – ICE Futures
canola contracts were stronger at midday, continuing to recover
following Monday’s losses.
Chicago Board of Trade soybean and oil contracts were on
the rise also, which was supportive for the canola market.
Soymeal contracts however were weaker.
Wet and cold weather is still delaying harvest progress
across Western Canada, which is supportive for canola. Parts of
Alberta have received more snow which will delay harvest, while
other areas of the Prairies have seen a reprieve from the wet
weather and were able to get back on the fields this weekend.
“But ultimately the weather’s got to clear up so they can
combine. On the other hand it doesn’t take long,” said a
Winnipeg-based canola trader.
The Canadian dollar was also weaker relative to its United
States counterpart which was supportive for canola.
About 10,700 canola contracts had traded as of 10:26 CDT.
ICE canola up after Monday downfall
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