By Terryn Shiells, Commodity News Service Canada
October 24, 2013
WINNIPEG – Canola contracts on the ICE Futures Canada platform were narrowly mixed amid choppy activity at 10:46 CDT Thursday.
Some support for prices came from the sharp downswing in the value of the Canadian dollar, which made canola more attractive to foreign buyers.
Improving crush margins, which encouraged crusher buying, further underpinned values, as did some technical based buying now that the bias is pointed higher.
On the other side, spillover pressure from outside oilseeds, including Chicago soyoil, Malaysian palm oil and European rapeseed was bearish.
A pick up in farmer selling following a recent rally put further downward pressure on canola futures, brokers said.
As of 10:46 CDT Thursday, about 20,325 contracts had traded. Much of the activity was linked to spreading, as traders were exiting the November contract as its expiry approaches.
Milling wheat, barley and durum were untraded and unchanged.
Prices in Canadian dollars per metric ton at 10:46 CDT:
