By Terryn Shiells, Commodity News Service Canada
Winnipeg, Feb. 9 – Canola contracts on the ICE Futures Canada platform were slightly firmer Monday morning amid choppy activity.
Values were finding support from the weak Canadian dollar, as it made canola more attractive to foreign buyers.
Some spillover support also came from the advances seen in Malaysian palm oil futures overnight, analysts said.
Chart-based buying and steady commercial demand for Canadian canola supplies were also underpinning the market.
However, weakness in Chicago soyoil and European rapeseed futures helped to limit the advances.
Expectations that the USDA will show very large global oilseed supplies in their monthly supply and demand due out on Tuesday, February 10, were also bearish.
As of 8:41 CST Monday, about 5,480 contracts had traded.
Milling wheat, durum and barley futures were untraded and unchanged.
Prices in Canadian dollars per metric ton at 8:41 CST:
