By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG, Sept. 16 – ICE Canada canola contracts were bouncing around both sides of unchanged Wednesday morning, with a softer tone in the nearby November contract and gains in the more deferred positions.
Wet and cool harvest-delaying weather in parts of Western Canada did remain somewhat supportive. However, off-the-combine deliveries are expected to pick up over the next few weeks, which weighed on the front month, according to participants.
The CBOT soy complex was mixed as well, providing little direction for canola. The US Federal Reserve is set to make a much anticipated announcement on whether or not it will raise interest rates on Thursday, which was said to be keeping some caution in both the financial and commodity markets.
About 4,800 canola contracts had traded as of 8:51 CDT.
Milling wheat, durum, and barley futures were all untraded.
Prices in Canadian dollars per metric ton at 8:51 CDT:
