By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG, Oct. 24 (CNS Canada) – Canola contracts on the ICE Futures Canada platform were stronger at midday Monday, as gains in Chicago Board of Trade soyoil provided support.
Canola was lagging soyoil to the upside, which was causing crush margins to improve by as much as C$10 to C$15 per tonne.
Persistent weather issues in Saskatchewan and Alberta continue to delay the final stages of this year’s harvest, provided additional support for canola.
“The weather is just not coming around,” said a broker, adding “getting a couple of days in a row (of good harvest weather) is tough, but we need 20 days in a row.”
The Canadian dollar was weaker relative to its US counterpart,
About 32,000 canola contracts had traded as of 10:55 CDT.
Milling wheat, durum, and barley futures were all untraded and unchanged.
