By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG, Nov. 10 (CNS Canada) – ICE Canada canola contracts were up Thursday morning, taking some direction from a rally in the Chicago Board of Trade soy complex.
Continued weakness in the Canadian dollar added to the firmer tone in canola, as the falling currency makes exports more attractive to international buyers.
Concerns over tightening supplies, due to Canada’s harvest delays, remained supportive as well. However, improved weather conditions across the Prairies should be allowing for some progress this week.
Canadian markets will be closed Friday for Remembrance Day, while US markets remain open. Positioning ahead of the long-weekend could be a feature as the day progresses.
About 2,800 canola contracts had traded as of 8:47 CST.
Milling wheat, durum, and barley futures were all untraded.
